MariMed Inc., a prominent cannabis operator with a multi-state presence dedicated to enhancing daily lives, officially declares the initiation of cannabis product manufacturing and processing activities at its newly established processing kitchen in Mt. Vernon, Illinois. Despite encountering significant construction and regulatory setbacks, the company anticipates the availability of its acclaimed products at dispensaries across Illinois, in time for the holiday season.
The moden processing facility is equipped with an extraction lab for concentrate production and a production kitchen for the fabrication of edibles and other derivative items. Concurrently, construction is underway for the cultivation facility within the same premises, with an anticipated completion date in 2024.
MariMed’s strategic plan includes the manufacturing and distribution of its exclusive brands and products throughout Illinois. This encompasses popular offerings such as Betty’s Eddies fruit chews, formerly the leading edible in Illinois until 2020 under a third-party licensing agreement, Bubby’s Baked soft and chewy baked edibles, and various other edible brands will also be produced at the facility.
Following the conclusion of cultivation facility construction, the company aims to initiate the sale of its cannabis flower through both retail and wholesale channels. MariMed manages five Thrive dispensary locations strategically situated throughout the state.
Commenting on the announcement, MariMed CEO Jon Levine appeared satisfied with his company’s progress in the Land of Lincoln. Mr. Levine believes this development marks a significant milestone as MariMed officially attains the status of a vertically integrated cannabis operator in Illinois.
He furthermore emphasized the strategic significance of this move, highlighting its integral role in the company’s growth plan. The plan aims to boost revenue and profitability through strategic expansion in high-growth states where MariMed is already established. Notably, Illinois regulations permit operators to own up to 10 dispensaries and three craft licenses, underscoring MariMed’s commitment to furthering its presence and operations within the state.
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