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MariMed To Launch Adult-Use Sales In Panacea Wellness In Massachusetts

September 14, 2020 2:46 pm
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MariMed To Launch Adult-Use Sales In Panacea Wellness In Massachusetts

Multi-state cannabis operator MariMed Inc. (OTCQX:MRMD) received all regulatory approvals to commence adult-use retail sales in its Panacea Wellness Dispensary in Middleborough, Massachusetts.

The store has been open since December under the Massachusetts Medical Cannabis Program.

The Massachusetts Cannabis Control Commission conducted the final inspection and authorized the dispensary located at 29 Harding St in Middleborough to sell recreational cannabis.

Starting Sept. 14, Panacea Wellness would sell cannabis flowers and products to customers over 21 years in accordance with the Massachusetts Adult-Use Cannabis Program.

MariMed CEO Bob Fireman expects adult-use sales at the Middleborough dispensary to "significantly expand our revenue at this retail operation."

He pointed out Monday that the store has a "prime location" being in the vicinity of the 'two major highways for adult-use customers."

Tim Shaw, the company's head of operations, thanked the CCC and the Town of Middleborough for the support.

MariMed, which saw a year-over-year revenue spike of 163%, has been dedicated to developing proprietary brands Betty's Eddies and Nature's Heritage over the past year. Adult versions of these products would be a "big attraction," Shaw added.

Courtesy image

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