MariMed To Acquire Illinois Craft Cannabis License Allowing for Vertically Integrated Cannabis Operations

This transaction will enable MariMed to add cultivation, manufacturing, and distribution to its existing retail cannabis operations in the state. MariMed will bring its full product portfolio of award-winning and top-selling brands, genetics, and products to one of the top cannabis markets in the United States. “This acquisition allows MariMed to be a vertically integrated cannabis operator in Illinois, where we already operate four high-performing Thrive-branded dispensaries,” said Bob Fireman, Chief Executive Officer of MariMed. A Transportation License also being acquired will enable the Company to wholesale its products throughout Illinois. The Company develops, owns, and manages seed to sale state-licensed cannabis facilities, which are models of excellence in horticultural principles, cannabis cultivation, cannabis-infused products, and dispensary operations.