MariMed, Inc. (OTCQX:MRMD) has signed a definitive agreement to acquire a provisional dispensary license from Green House Naturals, LLC.
Deal Details
The transaction, which is subject to customary closing conditions and regulatory approvals, will add a second retail location to MariMed’s vertically integrated cannabis operations in Massachusetts. Terms of the transaction were not disclosed.
The assets of Green House Naturals to be acquired by MariMed include a provisional adult use dispensary license subject to approval of the Massachusetts Cannabis Control Commission, a Host Community Agreement to operate a dispensary from the City of Beverly, and the assignment of the leasehold approved for the business.
The dispensary will be in Beverly, a suburban City of 42,000-residents located on the north shore of the Boston metropolitan area, and branded Panacea Wellness. Easily accessed via two major roadways, Highway 128 and Route 1A, MariMed anticipates heavy local and tourist consumer traffic to the dispensary. It represents MariMed’s second retail location in the Boston area, joining the company’s south shore, Panacea Wellness dispensary in Middleborough, which services both adult use and medical programs.
Why It Matters?
“Adding a second adult-use dispensary in Massachusetts is a key element of our long-term strategic growth plan, continuing our efforts to expand deeper in high-growth states in which we already operate,” Bob Fireman, the company’s…
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MariMed, Inc. (OTCQX:MRMD) has signed a definitive agreement to acquire a provisional dispensary license from Green House Naturals, LLC.
Deal Details
The transaction, which is subject to customary closing conditions and regulatory approvals, will add a second retail location to MariMed’s vertically integrated cannabis operations in Massachusetts. Terms of the transaction were not disclosed.
The assets of Green House Naturals to be acquired by MariMed include a provisional adult use dispensary license subject to approval of the Massachusetts Cannabis Control Commission, a Host Community Agreement to operate a dispensary from the City of Beverly, and the assignment of the leasehold approved for the business.
The dispensary will be in Beverly, a suburban City of 42,000-residents located on the north shore of the Boston metropolitan area, and branded Panacea Wellness. Easily accessed via two major roadways, Highway 128 and Route 1A, MariMed anticipates heavy local and tourist consumer traffic to the dispensary. It represents MariMed’s second retail location in the Boston area, joining the company’s south shore, Panacea Wellness dispensary in Middleborough, which services both adult use and medical programs.
Why It Matters?
“Adding a second adult-use dispensary in Massachusetts is a key element of our long-term strategic growth plan, continuing our efforts to expand deeper in high-growth states in which we already operate,” Bob Fireman, the company’s…
