MariMed Granted Approval to Open its Third Dispensary in Illinois
NORWOOD, Mass., September 17, 2020 — MariMed Inc. (MRMD:OTCQX) (the “Company” or “MariMed”), a leading multi-state cannabis and hemp operator focused on health and wellness, today announced it received an adult-use dispensing organization license from the Illinois Department of Financial and Professional Regulation for its third adult-use dispensary in Illinois. The dispensary in Mount Vernon, IL, which operates under the Thrive brand, will open on September 21, 2020 with a grand opening scheduled for September 25, 2020.
Located in a newly remodeled 5,000-square foot building in a major retail area at the crossing of INTERSTATE highways US 64 and US 57, the dispensary will provide adult-use access to cannabis products in a previously underserved area. The interstate also gives easy access to customers 21 years and older traveling from states like Indiana, Kentucky, Tennessee, and Missouri. The dispensary will also likely hire between 20 to 25 employees from the local area.
“MariMed continues to achieve sales success in the Illinois market and we are proud to expand our presence with the opening of our third location in the state,” said Gorgi Naumovski , Operations Manager of MariMed’s cannabis licensed dispensaries in Illinois “This should increase MariMed’s revenue in the state’s lucrative new adult use legal cannabis market”.
The dispensary will offer a variety of cannabis products from flower, topicals, edibles and concentrates, across multiple brands and product sizes, flavors, and other options, sourced from a majority of the 21 cultivators in the state. Consumers will also have access to a large selection of ancillary products. Additionally, the dispensary will feature an education room where shoppers over 21 years of age can learn from cultivators and staff, and (remove this)demo cannabis products. Replace with – Provide educational demonstrations
“MariMed consolidated the Illinois cannabis licensed subsidiaries when the State of Illinois approved the transfer in December of 2019 said Jon Levine CFO; The revenue from these three dispensaries will now be reported in our public reporting.”
MariMed also manages and operates two other licensed dispensaries in Harrisburg and Anna, Illinois for both medical and adult-use, and plans to open a fourth dispensary for adult-use sales in 2021, pending all necessary licensing approvals.
Consumers are invited to visit the Mt. Vernon dispensary at: 800 South 45 Street Mt. Vernon IL 62864