MariMed began its first cannabis harvest of 2020 at its cultivation and production facility in New Bedford, MA."This state-of-the-art cultivation and production facility’s initial flower production is estimated to ramp up to approximately 1,000 pounds per month, including a variety of high grade cannabis from top genetic strains," the team with the company explains. "MariMed operates in Massachusetts through its wholly owned, licensed subsidiary, ARL Healthcare."
In the midst of a state-wide flower shortage, MariMed received approval to start cultivation operations in November 2019. "The ARL Healthcare facility contains 17 flower rooms with approximately 32,000 square feet of canopy," they further explain. "The Company plans to package a majority of the product for its premium flower brand, Nature's Heritage, which will be available for both the wholesale market and retail purchase at Panacea Wellness Dispensary in Middleboro, MA. The remaining product will be extracted for both edibles and raw concentrates."
“The result of our first harvest in Massachusetts, arguably one of the fastest growing legal cannabis markets in the country, is extremely promising,” said Bob Fireman, CEO of MariMed. “Massachusetts is a key market for cannabis and with a flower shortage throughout the state, we believe operating a robust cultivation facility is crucial in ensuring that patients and consumers have access to safe, licensed cannabis rather than having to go to the black market for their wellness needs.”
Tim Shaw, MariMed’s COO, who led the Massachusetts licensing process and manages Massachusetts operations for the Company, said, “This harvest speaks to our continued success in efficiently executing on our strategic priorities. Our goal is to continue to expand our Massachusetts cultivation capacity and retail dispensary network as the legal market continues to grow.”
“During this statewide flower shortage, we’re proud to provide a masterfully crafted cannabis product grown through our ultramodern horticultural processes. Nature’s Heritage is a storied brand that boasts an integrity that Massachusetts hasn’t yet experienced on the legal market. The state is in for a treat,” added Jo McCarran, MariMed SVP Branding.
Massachusetts has a robust adult use market as well as a Medical Cannabis Program in which over 60,000 patients are currently enrolled. Market analysts at the Brightfield Group project the recreational cannabis market in Massachusetts will exceed $2 billion annually by 2023, with medical use growing to $125 million in the same period.
For more information:
MariMed
T: 949-432-7443
MRMD@cma.team
marimedinc.com