MRMD - MariMed to open fourth Illinois dispensary in Metropolis

MariMed (MRMD) trades 1.1% higher premarket after announcing it will open its fourth adult-use Illinois dispensary in the City of Metropolis under its Illinois "Thrive" retail brand on May 5."Illinois has been a very strong market for MariMed and our other three dispensaries in the state. We anticipate Thrive Metropolis will be another strong performer, helping us seize. the robust southern Illinois cannabis market opportunity. The opening of this dispensary is the latest advancement in our strategic plan to grow our footprint in markets that offer unique opportunities to generate significant revenues," CEO Bob Fireman commented.Illinois' adult-use market reported $669M in sales in its first year of operation (since recreational sales commenced on Jan.1, 2020).With medical cannabis sales of more than $331M between January 2020 and November 2020, Illinois' total cannabis sales in 2020 significantly crossed $1B and is forecasted to increase substantially in 2021.In March 2021, state cannabis sales hit a monthly high of $109M in adult sales alone with out-of-state visitors accounting for

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MariMed to open fourth Illinois dispensary in Metropolis