MRMD - MariMed gets Maryland state approval to acquire cannabis company Kind Therapeutics

MariMed (OTCQX:MRMD) said the Maryland Medical Cannabis Commission approved the transfer of 100% of the ownership of cannabis company Kind Therapeutics U.S.A. to MariMed. In January, MariMed said it was acquiring Kind for $20M, which is to be paid via a combination of cash and promissory notes. The company said the parties will now move forward to complete the closing of the transactions. Kind operates under its cannabis cultivation and production licenses in its Hagerstown, Maryland manufacturing plant. The company said Kind’s cannabis products, including MariMed brands, are distributed to ~100 medical dispensaries in the Maryland medical cannabis program.

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MariMed gets Maryland state approval to acquire cannabis company Kind Therapeutics