MariMed, Inc (OTCQX:MRMD) (CSE:MRMD) entered into an agreement with 42 Degrees, a Michigan licensed cannabis producer and distributor, to manufacture and distribute MariMed’s brands and products in the state.
42 Degrees currently wholesales products into 340 dispensaries, representing approximately 75 percent of the operating dispensaries in Michigan. The agreement provides initially for the manufacture, sales, and distribution of MariMed’s Betty’s Eddies full-spectrum fruit chews into the adult-use market. The intention longer-term is to roll out other brands in MariMed’s portfolio, including Bubby’s Baked soft and chewy baked goods and Vibations: High + Energy powder energy drink mix.
The licensing deal is aligned with the company’s strategic growth plan to distribute its brands in legal cannabis states across the country. The company anticipates Betty’s Eddies will be available in the Michigan retail market in early 2023.
“We are thrilled to partner with 42 Degrees for the production and distribution of our award-winning Betty’s Eddies branded products in the Michigan adult-use cannabis market,” stated Ryan Crandall, chief revenue officer for MariMed. “Michigan is one of the largest cannabis markets in the country and we could not be more pleased to introduce our brands to these great cannabis consumers within the state.”
Photo: Benzinga; Sources: courtesy of jarmoluk and lindsayfox via Pixabay
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