MRMD - MariMed plans to buy Ermont assets

• MariMed ( OTCQX:MRMD ) announced on Tuesday its plans to acquire the operating assets of Massachusetts-based cannabis operator Ermont.
• Terms of the deal were not disclosed. The acquisition is subject to approval by the Massachusetts Cannabis Control Commission (CCC).
• Ermont is currently in receivership with a court appointed receiver Opus Consulting Partners. Opus and MariMed negotiated the deal with court approval.
• The accretive deal provides MariMed ( OTCQX:MRMD ) with its third dispensary in Massachusetts. The dispensary will be rebranded as Panacea Wellness, with medical sales likely to commence upon receipt of final approvals and closing conditions.
• The acquisition also includes two host community agreements with Quincy city, one of which is to conduct adult-use cannabis sales. MariMed ( OTCQX:MRMD ) seeks CCC approval for adult sales and plans to expand the existing medical dispensary to accommodate the increased traffic. It also intends to repurpose the cultivation facility for its pheno-hunting activities.

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