MariMed Positioned to be Leader in Hemp CBD Era with 2018 Farm Bill Signing Imminent
NORWOOD, MA, Dec. 14, 2018 (GLOBE NEWSWIRE) -- As President Trump prepares to sign the 2018 Farm Bill into law in coming days, MariMed, Inc. (OTCQB: MRMD), a leading cannabis operator that recently announced a major hemp investment, hailed the imminent signing of the bill as “the official launch of the Hemp CBD Era.”
“The expected signing of the Farm Bill will enable Americans to enjoy legal access to a host of hemp-derived CBD-based solutions, which are already renowned for their health and wellness benefits, ,” said Robert Fireman, MariMed CEO. “MariMed expects to make a series of Hemp CBD product and distribution announcements in 2019. We are excited about the potential of legalized hemp to benefit millions of Americans in many ways.”
MariMed has made a significant commitment to the rapidly-growing, hemp-derived CBD product industry, which analysts project growing to $22 billion globally by 2022, from today’s estimated $800 million. In November, MariMed announced its $30 million investment and strategic partnership in a leading agriculture and technology company specializing in the production of hemp-derived CBD.
Hemp-derived CBD has been shown to reduce anxiety, depression and sleep disorders without the side effects and addiction risks of many pharmaceuticals. CBD has also been proven effective in treating a wide range of medical conditions, including certain types of epilepsy, some cancers and painful cancer treatments, arthritic and muscular pain, high blood pressure, and various skin conditions, including acne.
“With restrictions on hemp research likely to lift, MariMed is beginning to collaborate with researchers to develop more effective delivery mechanisms and product options for specific medical, health and beauty treatments,” said Fireman.
Charles Finnie, MariMed Chief Strategy Officer, noted, “Hemp will be an important, eco-friendly, drought-resistant crop that creates abundant jobs and tax revenue. It is time for hemp to assume its rightful place as a cornerstone agricultural crop that has the power to reshape America’s health and wellness landscape.”
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About MariMed Inc.:
MariMed is a multi-state cannabis company that develops, owns and operates licensed cannabis facilities and develops and distributes branded cannabis and hemp product lines. MariMed’s team has developed state-of-the-art regulatory-compliant facilities in DE, IL, NV, MD, MA, and RI, which are models of excellence in horticultural principals, cannabis production, product development, and dispensary operations. In addition, MariMed is on the forefront of precision-dosed branded cannabis and hemp-derived products for the treatment of specific medical conditions. MariMed currently distributes its branded products in approximately 10 states, and is expanding licensing and distribution to additional markets, encompassing thousands of dispensaries and additional retail outlets. MariMed Inc. is one of the top-performing public cannabis companies in the U.S., according to the U.S. Marijuana Index, (www.marijuanaindex.com) and Boston Business Journal named MariMed the top performing stock in Massachusetts . For additional information, visit www.MariMedAdvisors.com
Jon Levine, CFO, MariMed
Tyler Troup, Circadian Group
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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.’s 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 law and its enforcement and changes in the economic environment. 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 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 December 14, 2018