NORWOOD, Mass. – MariMed, Inc. (OTCQX: MRMD), a multi-state cannabis operator focused on improving lives every day, announced a licensing agreement with East Coast Cannabis Company, a cannabis producer and distributer in the Maine Cannabis market. The licensing agreement provides for the adult-use distribution of MariMed’s top-selling brand, Betty’s Eddies full-spectrum fruit chews and the other successful SKUs in the line-up, including Bedtime Betty’s. The intention longer-term is to roll out other edibles brands in MariMed’s portfolio, including Bubby’s Baked soft and chewy baked goods and Vibations: High + Energy powder energy drink mix. Terms of the deal were not disclosed.
The licensing deal is aligned with the Company’s strategic growth plan to distribute its brands in legal cannabis states across the country. The Company anticipates Betty’s Eddies will be available to Maine’s residents and seasonal adult-use customers in the coming months.
“We are thrilled to partner with East Coast Cannabis Company for the production and distribution of our award-winning Betty’s Eddies branded products in the Maine adult-use cannabis market,” said Ryan Crandall, Chief Revenue Officer for MariMed. “Maine is an underappreciated adult-use cannabis market. While the state’s population is just over one million, Maine attracts as many as 37 million tourists annually, rivaling that of the Las Vegas Strip.”
Betty’s Eddies has been available to Maine’s medical cannabis patients since early 2021 through a separate licensing agreement. Betty’s Eddies has been a top-selling edible in all the states in which it’s been available. The adult-use cannabis market in Maine is projected to grow to $500 million dollars in 2025 according to Cowen Research.
(This information is primarily sourced from MariMed Inc. Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).