NEWTON, Mass. and NEW YORK, Dec. 27, 2017 -- MariMed Inc. has completed a $4 million loan financing through its subsidiary MariMed Advisors with Best Buds Funding LLC. MariMed and its affiliate companies intend to use the proceeds to complete the build out of its medical cannabis cultivation and production facility in Hagerstown, Maryland, according to a press release.
MariMed Inc. is an industry leader in the design, development, operation, funding, and optimization of medical cannabis cultivation, production, and dispensary facilities, and the development and licensing of branded precision dosed cannabis products.
“With this transaction, MariMed has secured debt and equity of approximately $22.348 million this year, proving our ability once again to raise funds in a traditionally very difficult microcap environment coupled with the challenges of the medical cannabis industry,” stated Robert Fireman, CEO of MariMed in the press release. “We appreciate Best Bud’s investment and look forward to future transactions supporting our anticipated continued growth and momentum as we expand with facilities and branded products across the U.S.”
Graubard Miller provided legal representation for Best Buds LLC Funding for the transaction.
