MariMed Acquires Fifth Adult-Use Dispensary License in Illinois.

MANews-(C)2009-2022

Massachusetts, US-based multi-state cannabis operator MariMed, Inc (CSE: MRMD), (OTCQX: MRMD) has signed a definitive agreement to acquire the ownership interests in a conditional adult-use cannabis dispensary license in Illinois, the company said.

The dispensary license is for the BLS District #16, which is situated in the Central-Eastern part of Illinois, bordering Indiana.

The closing of the acquisition is dependent on certain conditions, including resolution of any remaining legal challenges affecting nearly 200 social equity dispensary licenses, and regulatory approval for the acquisition.

Upon closing of the acquisition, MariMed will commence operation of its fifth Thrive adult-use dispensary in Illinois, which is expected in 2023.

MariMed currently owns and operates four adult-use dispensaries in Anna, Harrisburg, Metropolis, and Mt. Vernon.

Additionally, the company is constructing a state-of-the-art craft cultivation and processing facility in Mt...

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