Among the many topics discussed was the impending acquisition of Ermont, Inc. The company describes its mission is to provide high-quality laboratory-tested medicine to registered patients in a safe, welcoming environment, while offering medical cannabis products for patients in Massachusetts. The company’s dispensary is located in the Quarry Hills section of West Quincy, directly off the main highway and about 10 miles from downtown Boston.

Should the acquisition close, Ermont, Inc. would provide the company with its third dispensary in Massachusetts—the maximum allowable by state regulations.

And while Marimed does not seek continuity with the cultivation assets, Mr. Shaw states the company sees great value in the Ermont assets for its R&D capabilities:

Mr. Shaw reasoned that although MariMed generates enough cash flow organically to grow, the company is seeing distressed assets coming onto the marketplace. The additional cash will allow MariMed to possibly bid for assets that otherwise might be out of reach, allowing it to expand at a faster rate.

The Ermont, Inc. acquisition fits this modus operandi as a value-based addition. Currently, Ermont is in court-ordered receivership, which is a legal process in which a court appoints a neutral third party to disperse the assets. Often times, assets in these proceedings can be acquired at ‘fair’ or below-market value.