MariMed Raises $23 Million Selling Convertible Preferred Stock With Warrants to investment that is london-Based

MariMed Secures New Funding from Long-Term Capital Partner

Capital Infusion to Strengthen Balance Sheet and Provide Funding for Strategic Acquisitions

$46 Million Dollar Financing Facility to Accelerate Company Growth Strategy

NORWOOD, Mass., March 2, 2021 /CNW/ – MariMed, Inc. (OTCQX: MRMD) (the “Company” or “MariMed”), a leading multi-state cannabis operator focused on health and wellness, today announced the closing of a $46 million financing facility with Hadron Healthcare Fund (“Hadron”) pursuant to the terms of a Securities Purchase Agreement (“SPA”).Today’s initial funding of $23 million, will be used to repay substantially all of the Company’s long-term debt other than mortgage-backed loans as well as to upgrade and expand MariMed’s owned and managed cannabis facilities. The balance of the committed funds will be available for MariMed to continue executing on its plan that is strategic and the consolidation of other state cannabis companies into MariMed.

We are delighted to own been chosen by Hadron as their chosen partner to perform this investment that is strategic the US MSO sector. This financing is a recognition that is substantial of the Company’s place in the market along with the power and history of our administration group.

Bob Fireman, CEO of MariMed

This infusion of capital comes at a inflection that is key for MariMed and will not only further strengthen our balance sheet, but also enable us to complete targeted acquisitions and strongly position us to act on other attractive opportunities for accelerated growth as the cannabis industry continues to evolve.

MariMed intends to utilize this capital investment to position itself as one of the leading vertically integrated US multi-state cannabis operators. The Company expects to expand its cultivation capacity to increase cannabis production and implement automated technologies and equipment that is specialized enhance the efficiencies into the Company’s manufacturing labs and kitchen areas to be able to create greater volumes of MariMed’s profile of proprietary brands and infused items. MariMed’s leadership that is executive has significant experience and an extensive track record of executing in the cannabis industry. To date, the MariMed team has successfully won 17 cannabis licenses in multiple states for itself and on behalf of its clients and has developed over 300,000 square feet of state-of-the-art, regulatory compliant cultivation, production and dispensing facilities.

“When We looked at the history of the MariMed and its management team, we strongly felt MariMed was the opportunity that is best for the continued interest and investment in to the united states of america MSO room,” said Marco D’Attanasio, CIO of Hadron Capital (Cayman) Ltd, the investment supervisor of Hadron Healthcare Fund.

MariMed’s strong brand name existence, functional quality, and administration history, supported by our money investment, can give them the most effective tools to keep to perform and drive stockholder value.

Marco D’Attanasio, CIO of Hadron Capital

We view MariMed assets and income as a platform to construct a high professional and lucrative MSO in the* that is( industry. We look forward to working with them as a partner that is long-term

Transaction Details

The salon offers the purchase as high as $46 million of Series C Preferred Shares that is convertible of Company. At today’s closing that is initial Hadron bought $23 million of devices for $3.70 per device. Each device is comprised of one share of Series C Preferred inventory and a Stock purchase that is common warrant. Each share of Series C Preferred Stock is convertible, at Hadron’s option, into five shares of Common Stock and each warrant is exercisable, at an exercise price of $1.087 per share, for one-half of a share of Common Stock for each conversion share (2 ½ warrants shares per Unit). The balance of the funds that are committed to $23 million) is going to be granted for a passing fancy terms while the securities granted today and will also be readily available for MariMed to perform the consolidation of other state cannabis companies devices into MariMed. In addition, if Hadron workouts all the warrants for money, MariMed will get extra profits of around $34 million. Beacon Securities Limited introduced the ongoing parties to the transaction.

About Hadron Capital (Cayman) Ltd

Hadron Capital (Cayman) Ltd is an investment that is independent with worldwide reach which was started in 2004. Hadron has a track record of strong comes back and has now won performance that is multiple over the years. Hadron was an investor that is early a few of the biggest multi-state operators into the sector and its own US cannabis investment profile is respected at over United States $300 million. Hadron’s investment philosophy is highly predicated on bottom-up, thorough and analysis that is deep. Hadron works with companies to unleash value and acts as a long-term partner that is financial provider of money due to their profile businesses.

About MariMed

MariMed Inc., a multi-state cannabis operator, is specialized in enhancing the ongoing health and wellness of people through the use of cannabinoids and cannabis products. The Company develops, owns, and manages seed to sale state-licensed cannabis facilities, which are models of excellence in horticultural principles, cannabis cultivation, cannabis-infused products, and dispensary operations. MariMed has an management that is experienced that has produced constant development and success for the organization and its own managed sections, maintaining it during the forefront of cannabis technology and innovation. Proprietary formulations produced by the Company’s technicians are embedded in its industry-leading items and brands, including Betty’s Eddies™, Nature’s Heritage™, Bourne Baking Co., and Kalm Fusion™. For more information, check out marimedinc.com.

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