NORWOOD, Mass., Dec. 03, 2019 (GLOBE NEWSWIRE) — MariMed Inc. (MRMD:OTCQX), a leading multi-state cannabis and hemp operator focused on health and wellness, today announced that its proprietary, in-house brand, Betty’s Eddies™, is among the top-selling sublingual and edible products in a national survey conducted by LeafLink, the leading wholesale platform for cannabis products in the United States.
On November 19, LeafLink released its second-annual LeafLink List, honoring the standout cannabis brands, products, and retailers on its B2B e-commerce marketplace, which processes over $1.4B per year in wholesale cannabis orders. Over 1100 brands were included in the survey. MariMed, Inc. in-house brand Betty’s Eddies™, which are gluten-free, vegan, and produced with organically grown fruits and veggies, is the LeafLink Winner for Best Selling Medical Product.
MariMed’s family of brands sell in the dispensaries it owns and manages, and on a wholesale basis to retailers in each of the six states it operates. Several recent marketing studies have concluded that infused cannabis products will occupy an increasing share of the overall US cannabis market, which according to the 2019 Marijuana Fact Book, is on pace to exceed 35% growth and $12 billion in sales this year.
Betty’s is the most widely distributed product in Maryland, reaching over 70 state dispensaries in less than ten months. New SKUs, including Extra Strength Betty’s Eddies™, will launch in Maryland, Rhode Island, Illinois, and Massachusetts in December of 2019.
Ryan Crandall, Chief Product Officer and SVP of Sales at MariMed, Inc., said, “I am thrilled cannabis consumers love the Betty’s Eddies brand and products as much as our hardworking team, which is responsible for their quality, custom formulation, and wide availability. Betty’s will continue to innovate with new seasonal flavors, limited release small-batch drops, and delicious new Betty’s products. The expertise to consistently shape the intended product experience in any state or territory is most important to building consumer trust, brand loyalty, and ultimately revenue growth.”
The Branded Product Division at MariMed recently launched Betty’s Eddies™ in Rhode Island and plans to launch in MA and Puerto Rico in the next 60 days. MariMed will be opening its Panacea Wellness facility in Massachusetts in mid-December for medical cannabis patients, and recently completed the consolidation of its two managed dispensaries in Illinois.
Bob Fireman, CEO of MariMed, Inc., said, “We are pleased to see the strength of our brands recognized for their significant acceptance and sales growth across multiple markets. Our product division is both innovative and highly responsive to tastes, patient needs, and trends that differ from market to market. As our quality manufacturing capacity and licensing relationships grow, we anticipate MariMed’s product family to continue to prosper in a crowded market.”
LeafLink, the cannabis industry’s wholesale marketplace, is defining the way thousands of cannabis brands and retailers manage and track their orders and relationships so they can focus on growing their businesses. The Company has offices in New York, Los Angeles, and Toronto, and is live in 25 territories across North America. LeafLink processes over $1.4B+ in annual orders, making up an estimated 23% of US wholesale cannabis commerce. Backed by leading venture capital firms and strategic investors such as Thrive Capital, Nosara Capital, and Lerer Hippeau, LeafLink has raised more than US $51 million to date.
MariMed Inc., a multi-state cannabis operator, is dedicated to improving the health and wellness of people through the use of cannabinoids and cannabis products. The Company develops, owns, and manages seed to sale state-licensed cannabis facilities, which are models of excellence in horticultural principles, cannabis cultivation, cannabis-infused products, and dispensary operations. MariMed has an experienced management team that has produced consistent growth and success for the Company and its managed business units.
The Company is at the forefront of science and innovation through research developed by its lab technicians and medical advisors resulting in industry-leading products and brands, including “Kalm Fusion” and “Betty’s Eddies.” These precision dosed products are focused on specific medical symptoms and are licensed and distributed across the country.
In 2019, with the enactment of the 2018 US Farm Bill, MariMed formed MariMed Hemp, a wholly-owned subsidiary, to leverage its seed to sale cannabis platform and experience into the emerging hemp-based CBD industry. MariMed Hemp has developed and is marketing a portfolio of CBD brands and products to multiple retailers and direct to consumers both domestically and internationally. MariMed Hemp recently launched its Hemp Engine™ store-within-a-store distribution platform for retailers. For additional information, visit marimedinc.com.
Important Caution Regarding 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.
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Jon Levine, CFO
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Jo McCarran, SVP Creative & Branding