MariMed Primed to Meet Soaring Demand as Hemp CBD Era Begins
December 20, 2018 16:10 ET | Source: MariMed Inc
• MariMed anticipates significant increase to its EBITDA in coming years
• MariMed well-positioned with strategic partnership and long-term supply agreement with leading U.S. hemp producer, GenCanna Global
NORWOOD, MA, Dec. 20, 2018 (GLOBE NEWSWIRE) -- The Hemp CBD Era officially begins with the 2018 Farm Bill signed into law today by President Trump, according to MariMed, Inc. (OTCQB: MRMD), a multi-state cannabis operator and hemp development and distribution company. The landmark legislation, which legalizes industrial hemp, opens doors for MariMed, GenCanna Global (GenCanna) and other US businesses to meet soaring demand for Hemp CBD that analysts expect to grow from today’s $800 million to $22 billion by 2022. For the past few years, demand for CBD has far outpaced supply, as consumers discovered CBD’s efficacy for treating a range of medical conditions, including pediatric epilepsy, some cancers (and painful cancer treatments), acute anxiety, arthritic and chronic pain, high blood pressure, and various skin conditions, including acne.
“Legal hemp has the potential to reshape America’s health and wellness landscape,” said Charles Finnie, MariMed’s Chief Strategy Officer. “CBD will likely become a separate industry from the highly regulated, state-legal cannabis industry that remains illegal at the federal level. Lifting federal restrictions on hemp cultivation, research and distribution will enable advanced medical research, as well as increased agricultural production of pharmaceutical-quality CBD products that avoid the side effects and addiction risks of some pharmaceuticals.”
MariMed’s recent $30 million investment in GenCanna, one of the nation’s largest hemp cultivators and processors, enables GenCanna to implement advanced technology to increase hemp cultivation and production capacity throughout each stage of the supply chain. The investment is expected to produce a significant increase to MariMed’s future earnings while ensuring a reliable supply of high quality, genetically superior hemp products for MariMed’s newly created hemp division, above and beyond MariMed’s core cannabis business.
“GenCanna, widely viewed as the gold standard of CBD manufacturing, is now even better with the addition of advanced CO2, high-capacity processing to extract and isolate cannabinoids to 99% purity at true scale,” said Robert Fireman, MariMed CEO. “MariMed is deeply committed to pharmaceutical-grade product quality, precision dosing, and purity. By combining GenCanna’s high-purity, high quality CBD oils with our proven product development processes and systems, we intend to raise the quality bar for hemp CBD products. We plan to be a major B2B and B2C distributor of branded CBD product -- taking superior CBD products to where consumers shop: the supermarket, medical clinics, drug store chains and other retailers in the US and beyond.”
“The passing of the 2018 Farm Bill will be a critical step in the continued development of the hemp industry. Hemp-derived CBD is an input for thousands of products in dozens of markets.” said Matty Mangone-Miranda, GenCanna CEO. “The world is only beginning to understand the power of the hemp platform. MariMed’s world-class product development expertise is a critical part of that platform. Our partnership is a win for us, a win for MariMed, and a win for the industry. With great partners, and with the great state of Kentucky, we will unlock the full potential of hemp.”
https://globenewswire.com/news-release/2018/1...egins.html
December 20, 2018 16:10 ET | Source: MariMed Inc
• MariMed anticipates significant increase to its EBITDA in coming years
• MariMed well-positioned with strategic partnership and long-term supply agreement with leading U.S. hemp producer, GenCanna Global
NORWOOD, MA, Dec. 20, 2018 (GLOBE NEWSWIRE) -- The Hemp CBD Era officially begins with the 2018 Farm Bill signed into law today by President Trump, according to MariMed, Inc. (OTCQB: MRMD), a multi-state cannabis operator and hemp development and distribution company. The landmark legislation, which legalizes industrial hemp, opens doors for MariMed, GenCanna Global (GenCanna) and other US businesses to meet soaring demand for Hemp CBD that analysts expect to grow from today’s $800 million to $22 billion by 2022. For the past few years, demand for CBD has far outpaced supply, as consumers discovered CBD’s efficacy for treating a range of medical conditions, including pediatric epilepsy, some cancers (and painful cancer treatments), acute anxiety, arthritic and chronic pain, high blood pressure, and various skin conditions, including acne.
“Legal hemp has the potential to reshape America’s health and wellness landscape,” said Charles Finnie, MariMed’s Chief Strategy Officer. “CBD will likely become a separate industry from the highly regulated, state-legal cannabis industry that remains illegal at the federal level. Lifting federal restrictions on hemp cultivation, research and distribution will enable advanced medical research, as well as increased agricultural production of pharmaceutical-quality CBD products that avoid the side effects and addiction risks of some pharmaceuticals.”
MariMed’s recent $30 million investment in GenCanna, one of the nation’s largest hemp cultivators and processors, enables GenCanna to implement advanced technology to increase hemp cultivation and production capacity throughout each stage of the supply chain. The investment is expected to produce a significant increase to MariMed’s future earnings while ensuring a reliable supply of high quality, genetically superior hemp products for MariMed’s newly created hemp division, above and beyond MariMed’s core cannabis business.
“GenCanna, widely viewed as the gold standard of CBD manufacturing, is now even better with the addition of advanced CO2, high-capacity processing to extract and isolate cannabinoids to 99% purity at true scale,” said Robert Fireman, MariMed CEO. “MariMed is deeply committed to pharmaceutical-grade product quality, precision dosing, and purity. By combining GenCanna’s high-purity, high quality CBD oils with our proven product development processes and systems, we intend to raise the quality bar for hemp CBD products. We plan to be a major B2B and B2C distributor of branded CBD product -- taking superior CBD products to where consumers shop: the supermarket, medical clinics, drug store chains and other retailers in the US and beyond.”
“The passing of the 2018 Farm Bill will be a critical step in the continued development of the hemp industry. Hemp-derived CBD is an input for thousands of products in dozens of markets.” said Matty Mangone-Miranda, GenCanna CEO. “The world is only beginning to understand the power of the hemp platform. MariMed’s world-class product development expertise is a critical part of that platform. Our partnership is a win for us, a win for MariMed, and a win for the industry. With great partners, and with the great state of Kentucky, we will unlock the full potential of hemp.”
https://globenewswire.com/news-release/2018/1...egins.html
