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Debt Refinancing Means Cash Savings For MariMed

By Shadd Dales On Nov 22, 2023

Host Shadd Dales and millennial entrepreneur Anthony Varrell get a chance to catch up with MariMed CEO Jon Levine in this cannabis exclusive episode of The Dales Report. Jon brings us up to date on MariMed’s latest news, including a potentially game-changing reveal of debt refinancing.

It’s been a while since we touched base with MariMed (MRMD). In October, they unveiled an adult-use Thrive dispensary in Casey Illinois, expanding MariMed’s retail footprint once again. They also delivered a remarkable earnings report in August. Year over year, MariMed grew revenue 11%—the only company aside from Ascend Wellness to deliver double-digit YoY performance in that earning’s season.

Today, Jon Levine reveals the details of the $58.7M debt refinancing. It’s anticipated that this move will bring significant cash savings for the company. Shadd Dales and Anthony Varrell explore the financial intricacies of MariMed’s inner workings that reveal their strategic advantage over Cresco despite a seemingly lower rate. What does this mean for MariMed’s future? It could herald some robust future expansion plans, and if you tune in, you’ll hear all about it.

The discussion then shifts to the industry’s financial landscape. After September’s surge, things have been a bit quiet on the cannabis front, but the companies are still actively navigating hurdles – even if now they’re more financial in nature. We explore the benefits of leveraging traditional lenders and the challenges posed by high-interest rates.

Where do things go from here? Jon explains the growth trajectory of MariMed’s wholesale business, driven by facility expansion, new retail stores, and heightened product demand in Maryland. Credit cards are making an impact on industry dynamics. Is speculation on potential basket size increases warranted?

We wrap up with a discussion about the complexities of Maryland sales, insights into Missouri’s regulatory environment, and the departure of MariMed’s former CFO, Susan Blair. Don’t miss this entertaining and informative conversation with MariMed CEO Jon Levine.

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* In accordance with an executed agreement between The Dales Report and MariMed, The Dales Report is engaged with the aforementioned on a 12-month contract for $7,500 per month, with the purpose of publicly disseminating information pertaining to MariMed via The Dales Report’s media assets, encompassing its website, diverse social media platforms, and YouTube channel. Compensation for The Dales Report services involves the receipt of a predefined monetary consideration, which may, on certain occasions, encompass ordinary shares in instances where monetary compensation was not obtained. In such instances where share compensation was received, The Dales Report hereby asserts the right to engage in the acquisition or disposition of such shares subsequent to the conclusion of the aforementioned contractual period, in compliance with provincial, state, and federal securities regulations. Please refer to the “Disclosures” section below, which is to be interpreted in conjunction with this disclaimer.

cannabis Jon Levine MariMed

Shadd Dales

Shadd Dales is the Founder and President of The Dales Report and has an extensive background in the business media industry.

His work translates into over 15 years in mainstream media that included roles with BNN Bloomberg, CTV Properties and the iHeart Radio Network.

Shadd is considered one of the leading on air talents in both the cannabis and psychedelic space and has interviewed some of the most notable CEO names in the industry.

Shadd’s vision is to establish a content platform that is equivalent to a mainstream broadcast produced in a format that is relevant for today’s investor.