MariMed Acquires Betty’s Eddies to Expand Precision Dosed Cannabis Product Lines
NEWTON, Mass., Nov. 16, 2017 (GLOBE NEWSWIRE) -- MariMed Inc., (OTCQB:MRMD) today announced it has acquired the rights to the intellectual property (IP), formulations, recipes, proprietary equipment, and know how of Betty’s Eddies from Icky Enterprises LLC. Betty’s Eddies is a line of fruit chews handcrafted and naturally sweetened with the finest all natural ingredients and non-GMO organic fruits and vegetables. MariMed has had great customer response to Betty’s Eddies in select markets and felt it best to acquire the rights at this time in exchange for cash, royalties and MariMed stock. The acquisition enables MariMed to further expand its innovative, industry-leading Kalm Fusion™ precision dosed medical cannabis-infused product line.
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“MariMed is pushing the cannabis industry to higher standards with products requiring precision dosing of infused THC and CBD formulations that, when administered, will produce consistent, measurable relief,” stated Tim Shaw, MariMed Chief Operating Officer, who heads up MariMed R&D. “Betty’s Eddies lactose- and gluten-free, all natural chews are an ideal product for our licensees to infuse with MariMed’s medical grade precision dosed THC and CBD cannabis formulations, creating more options for medical cannabis patients to safely and predictably relieve their medical condition symptoms. Like MariMed’s Kalm Fusion products, they are designed to grab-and-go and discretely fit into daily life.”
Betty’s Eddies branded products are currently the most popular chewable in more than 50 licensed medical cannabis dispensaries in Illinois. MariMed plans to roll Betty’s Eddies out through its licensee network to hundreds more legal dispensaries in multiple states beginning in first quarter of 2018.
MariMed licenses its products to state licensed facilities and operators in each state who meet MariMed’s strict standards: all natural— not artificial or synthetic — ingredients and locally grown by knowledgeable growers, will apply MariMed’s scientific formulations with trademarked product recipes, such as Betty’s Eddies, to create end products custom designed for enjoyable, predictable relief.
Learn more about MariMed Inc. products and services at MJ Biz Con, Booth #2808 in the Las Vegas Convention Center, Nov. 15-17.
About MariMed Inc.:
MariMed designs, develops, finances, and optimizes medical cannabis cultivation, production, and dispensary facilities as a management service. MariMed's team has developed or is in the process of developing state-of-the art regulatory-compliant facilities in DE, IL, NV, MD, MA and RI. These facilities are models of excellence in horticultural principals, cannabis production, product development, and dispensary operations. MariMed is on the forefront of precision dosed branded products for the treatment of specific medical symptoms. MariMed currently distributes its branded products in select states and is expanding licensing and distribution to numerous additional states encompassing thousands of dispensaries. MariMed Inc., is one of the 17 top-performing public cannabis companies in the U.S. tracked on the U.S. Marijuana Index, (www.marijuanaindex.com). For additional information, visit www.MarimedAdvisors.com
About MariMed’s Branded Products
MariMed Inc. develops precision dosed, branded cannabis products designed to make treatment a part of life that patients enjoy. MariMed’s products go through rigorous R & D and multiple layers of internal and third party laboratory testing to ensure consistency and precise dosing in product formulations. Its brand Kalm Fusion evokes “Kalm” as a lifestyle product, which aims to bring relief through an enjoyable and reliable, patient-controlled treatment option. Kalm Fusion’s products include Mari Melts sublingual strips in three flavors (mint, berry and citrus), low-dose Chewable Tablets, Kalm-Corn microwave popcorn, and Powdered Tincture formulated drink mix in two flavors (Green Tea Lemonade and Mango Lime Coconut). MariMed‘s Betty’s Eddies cannabis-infused Berry Bombs and Fruit Chews are handcrafted with the finest all-natural ingredients -- lactose free, gluten free and naturally preservative free -- for the best experience. Betty’s Eddies uses only non-GMO organic fruits and vegetables for color and flavor. All MariMed products are available in THC and CBD formulations with childproof packaging. For more information on products and licensing, visit www.KalmFusion.com or www.BettysEddies.com.
Jon Levine, CFO, MariMed
Tyler Troup, Circadian Group
+1 (866) 950 8300
Julie Shepherd, Accentuate PR
Forward Looking Statements:
This release contains certain forward-looking statements and information relating to MariMed Inc., that is based on the beliefs of MariMed Inc. management, as well as assumptions made by and information currently available to the Company. Such statements reflect the current views of the Company with respect to future events including estimates and projections about its business based on certain assumptions of its management, including those described in this Release. These statements are not guarantees of future performance and involve risk and uncertainties that are difficult to predict, including, among other factors, changes in demand for the Company's services and products, changes in the economic environment and changes in technology. Additional risk factors are included in the Company's public filings with the SEC. Should one or more of these underlying assumptions prove incorrect, actual results may vary materially from those described herein as "hoped," "anticipated," "believed," "planned, "estimated," "preparing," "potential," "expected" or words of a similar nature. The Company does not intend to update these forward-looking statements. None of the content of any of the websites of any other party referred to herein (even if a link is provided for your convenience) is incorporated into this release and the Company assumes no responsibility for any of such content.
Released November 16, 2017