MariMed Inc (MRMD)
, a leading multi-state cannabis operator, announced in mid-January that the Company had formed MariMed Hemp Inc, a wholly-owned subsidiary to be entirely focused on hemp-derived CBD products. MariMed Hemp will have a dedicated executive team, proprietary brand and product lines, and distribution and marketing relationships, all separate from MariMed's core cannabis business.
Following the announcement of their subsidiary formation, Robert Fireman, CEO of MariMed, said, "With the recent signing of the U.S. Farm Bill that declared hemp fully legal at the federal level, we believe the hemp CBD industry may grow even faster than the cannabis industry. Consumers and retailers alike seek the highest quality, trustworthy products. While many niche players may try to compete, the reality is that only a handful of suppliers can reliably deliver top-quality CBD products at a scale that can serve the needs of major retailers."