MariMed Inc. Launches Cannabis Product Manufacturing in Illinois

LOS ANGELES- MariMed Inc., a cannabis company with a multi-state presence, has announced the commencement of its cannabis product manufacturing and processing activities at its new facility in Mt. Vernon, Illinois. The move, despite encountering construction and regulatory challenges, signals the company’s commitment to expanding its operations and product availability across the state, particularly with the holiday season approaching.

The newly established processing kitchen in Mt. Vernon is a state-of-the-art facility, boasting an extraction lab dedicated to concentrate production and a production kitchen for crafting edibles and other cannabis derivatives. This development is part of MariMed’s larger strategic plan to manufacture and distribute its proprietary brands throughout Illinois, which includes popular products such as Betty’s Eddies fruit chews and Bubby’s Baked soft edibles.

Additionally, MariMed is making strides in expanding its footprint with the construction of a cultivation facility on the same premises, expected to be operational in 2024. This will enable the company to begin selling its cannabis flower products through retail and wholesale channels.

MariMed’s CEO, Jon Levine, expressed satisfaction with the company’s progress in Illinois, highlighting this step as a significant milestone. As a vertically integrated cannabis operator, MariMed is positioned to leverage Illinois’ regulatory environment, which allows operators to own up to 10 dispensaries and three craft licenses. This aligns with the company’s growth strategy to enhance revenue and profitability by expanding in high-growth states where it already has a presence.

The company’s strategic vision underscores its commitment to strengthening its market position in Illinois. With five Thrive dispensary locations across the state, MariMed is poised to become a key player in the Illinois cannabis market, reflecting its broader aim of strategic expansion and increased market share in the burgeoning cannabis industry.