Investment helps fund the continued growth of MariMed assets
NEWTON, MA and NEW YORK, July 19, 2018 (GLOBE NEWSWIRE) -- MariMed, Inc. (OTCQB: MRMD), a multi- state professional cannabis organization which develops, owns and manages cannabis facilities and branded products lines, announced today that Navy Capital Green Fund, LP (Navy Capital), has made a $2.0 million investment in MariMed. The Navy Capital Green Fund is the first US-based Long/Short Public Equity Fund dedicated to identifying attractive best in class businesses within key verticals of the global legal cannabis industry. The investment will help fund the continued growth of MariMed assets, including the build-out of cannabis facilities in Massachusetts that are scheduled to open by yearend 2018.
“MariMed is one of the top multi-state cannabis operators in the US. We are delighted to be making this first investment to support their continued growth in Maryland, three sites in Massachusetts, and their plans for projects in additional states,” said Sean Stiefel, Navy Capital portfolio manager. “We are looking to synergistically align MariMed’s branded cannabis-infused product lines with other investments we’ve made in the industry. MariMed aligns closely with our investment philosophy of supporting businesses with strong revenue streams, compelling strategic growth plans, and management teams that are deeply invested in the business and committed to the industry and their customers.”
“This placement by one of the top investment houses in cannabis demonstrates Navy Capital’s confidence in our strategic plan and our potential for asset and revenue growth,” stated Robert Fireman, MariMed CEO. “We’ve had 11 consecutive quarters of year over year revenue growth, and Navy Capital’s infusion will help further facility development and expand corporate infrastructure, in turn bolstering assets, increasing revenue, and delivering financial performance.”
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About Navy Capital
Navy Capital’s research-oriented, fundamentally driven investment process focuses on identifying attractive opportunities within the legal cannabis space. Navy Capital seeks to find the best in class businesses within key verticals of the global cannabis industry. Those verticals include Consumer, Healthcare, Technology, Industrials, and Agriculture.
What We Look For
Navy Capital invests in 20-30 publicly traded and select private companies that will gain market share over time in their respective verticals. Businesses that have recurring revenue and management teams that have a large share of their net worth in the company and are deeply passionate about their culture and customers are the most attractive to us.
For more information, visit navycapital.com
About MariMed Inc.:
MariMed is a multi-state professional cannabis organization that develops, owns and manages cannabis facilities and branded products lines. MariMed’s team has developed state-of-the-art regulatory-compliant facilities in DE, IL, NV, MD, MA, and RI which are models of excellence in horticultural principals, cannabis production, product development, and dispensary operations. In addition, MariMed is on the forefront of precision dosed branded products for the treatment of specific medical symptoms. MariMed currently distributes its branded products in select states and is expanding licensing and distribution to numerous additional markets encompassing thousands of dispensaries. MariMed Inc. is one of the 17 top-performing public cannabis companies in the U.S. tracked on the U.S. Marijuana Index, (www.marijuanaindex.com). For additional information, visit www.MariMedAdvisors.com
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" 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.