MariMed, Inc. Introduces Revolutionary DabTab™ Brand Dablet to East Coast Dispensaries
- Exclusive Distributor for Ilo™ Vapor in Maryland, Rhode Island, Massachusetts and Delaware
- Initial Availability to All MD Dispensaries; Other States to Follow
- Offers Patients Easy, Clean, Convenient, Precision Dosed Cannabis Concentrates
NORWOOD, MA, March 21, 2019 (GLOBE NEWSWIRE) -- MariMed Inc. (OTCQB: MRMD) a leading multi-state cannabis and hemp operator, today announced an agreement with Ilo™ Vapor whereby MariMed is an exclusive distributor of the company’s flagship product, DabTab™ brand dablets. The product is available now to all cannabis dispensaries in Maryland. It will be introduced to Rhode Island, Massachusetts and Delaware dispensaries later this spring.
What is a DabTab™ brand dablet and why is it revolutionary? First introduced at the MJBizCon conference in Las Vegas in November of 2018, DabTab™ is a completely new way to consume cannabis concentrate that is precision dosed, clean, and delivers vapor, not smoke. DabTab™ preserves all the flavor and effects of conventional dabbing, while also providing a new level of convenience and cleanliness for concentrate consumption. A proprietary natural ceramic tablet is precision-infused with cannabis oil holding exactly 50mg of concentrate by weight per DabTab™. They eliminate the mess of handling, burning and cleaning conventional concentrates and shatter, but can still be used in many conventional vaporizers. DabTab™ brand dablets are offered in Sativa, Indica, and Hybrid strain-specific varieties that come in packs of either 10 or 20, .5g and 1g respectively. For their Maryland debut, DabTab™ brand dablets are infused with premium concentrate from MariMed's Nature's Heritage™ brand."
According to a BDS Analytics and ArcView Market Research report, cannabis concentrates have been the fastest growing segment in the cannabis market, growing from 10% in 2010 to 27% of the overall market in 2018, when sales neared $3B. Sales are expected to reach $8.5B by 2022. It notes, “For consumers, it’s a discreet and healthier choice that will likely make cannabis consumers of people who would never dream of inhaling smoke. That will cause the category to represent ever more retail display space…”
MariMed CEO Bob Fireman noted, “ilo™ Vapor is one of the most innovative companies I have encountered in the cannabis industry. The DabTab™ brand dablet is truly revolutionary and will likely accelerate growth in the concentrates sector, particularly among medical users, women, seniors and others attracted by the convenience, precise dosage and smokeless features. The product also fully supports MariMed’s focus on providing our growing consumer base with convenient, safe and precision dosed products that help them enjoy the health and wellness benefits cannabis compounds can deliver. Initial orders validate a strong interest by Maryland patients in DabTabs™ and that dispensaries will benefit from carrying this compelling and game changing product. We look forward to a long and fruitful relationship with ilo™ Vapor.”
Michael Lindars, President and Co-founder of ilo™ Vapor added, “Our products are designed from the ground up to focus on providing true vaporization, along with unmatched convenience and reliability. Initial DabTab™ sales have been very promising. We share many values with MariMed and are delighted with this agreement.”
MariMed Inc. will be showcasing its full range of products at the NECANN Conference, March 22-24, 2019 at the Hynes Convention Center, Boston, MA, booth 1210.
ABOUT ILO™ VAPOR: ilo™ Vapor, a division of Iconic Ventures, Inc., is a Portland, Oregon based technology, brand and product development company. Its patent pending devices are reinventing vaping. Through cutting edge technology and innovative design, ilo’s™ mission is to create clean, reliable and convenient products that deliver the optimal vaporization experience. Follow us on Instagram @ilo.vapor and on LinkedIn.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/875fd21d-cbe8-4118-9a98-83ef71667e53
ABOUT MARIMED, INC.: MariMed, Inc. is dedicated to improving health and wellness with the highest quality hemp and cannabis products. The company offers a full range of cannabis products, operates state of the art medical and adult-use cannabis dispensaries in six states, and has recently announced the formation of a separate division, MariMed Hemp, focused on the development of industrial hemp-derived CBD products. In late 2018 the Company announced a $30MM investment in Kentucky-based GenCanna, a recognized genetic innovator in industrial hemp. Across its branded products, including Kalm Fusion™ and Betty’s Eddies™, MariMed is in the forefront of precision dosed branded products for the treatment of specific medical conditions. MariMed currently distributes its branded products in select states and is expanding licensing and distribution to numerous additional markets encompassing thousands of dispensaries. For additional information, visit www.MariMedAdvisors.com.
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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," “looks” 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.
Media: Julie Shepherd, Accentuate PR
Investors: Jon Levine, CFO, MariMed
Released March 21, 2019