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Marimed Inc (OTCMKTS:MRMD) Reports A Robust Growth Of 292% YoY In Q4 2020 Revenues

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Marimed Inc (OTCMKTS:MRMD) reported an impressive growth of 292% YoY to $20.4 million in Q4 2020 from the sale of cannabis. Its profits improved by 377% YoY to $23.7 million in Q4 2020.

State licensed and core cannabis promotes growth

The improved performance is on the backdrop of consolidated cannabis business operations in Illinois and Massachusetts. It also generated significant revenues from its state-licensed businesses.

Marimed’s full-year revenues are $50.9 million (up 207% YoY). Its profits rose by 216% YoY to $33.1 million in 2020. The company improved its capital and liquidity by restructuring certain payment terms of the notes and lowered interest expenses and outstanding payable amounts.

Following the restructuring, the company narrowed down the working capital to negative $2.2 million in 2020 than previous year’s working capital of negative $29.3 million. It successfully improved the cash flow to $3.4 million at the end of 2020.

After 2020, Marimed clinched Hadron financing and used the proceeds to repay all of its long-term and short-term debts, excluding convertible notes and mortgage-backed bank loans.

Inaugurates a third dispensary in Mt. Vernon, Illinois

Marimed inaugurated a third dispensary in Mt. Vernon, Illinois, to sell adult-use cannabis products. It expects to open the 4th dispensary soon in Metropolis, Illinois.

Marimed’s Harrisburg and Anna Illinois-based medical cannabis dispensaries began the sales of adult-use cannabis products in January 2020.

In September 2020, Marimed inaugurated a dispensary in Middleborough, Massachusetts, to sell adult-use cannabis products. It is developing additional two dispensaries in Massachusetts.

Its ramped-up manufacturing and cultivation facility (on 70,000 sq. Ft.), based in New Bedford, Massachusetts, became operational in mid-2020. Its monthly production capacity of the high-quality flower is more than 1,000 pounds.

Marimed’s cannabis licensed businesses in Nevada, Maryland, and Delaware are showing improved performance. The company ramped up its cultivation capacity in Wilmington, Delaware-based facility.

It is also developing another manufacturing facility in Milford, Delaware. The company also ramped up the cultivation capacity at its Clarks County, Nevada-based facility.

The company’s proprietary cannabis brands such as Betty’s Eddies ® edibles and concentrates and flower under Nature’s Heritage demonstrate improved performance in the wholesale markets of Maryland and Massachusetts.

Growth prospects for 2021

Marimed expects to maintain the same growth momentum in 2021 by consolidating key assets and new dispensaries.

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.

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CLS Holdings USA Inc. (OTCMKTS: CLSH) Announce That City Trees Was Acknowledged in the LeafLink 2021 List

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CLS Holdings USA Inc. (OTCMKTS: CLSH) has announced the release of LeafLink List today by LeafLink, acknowledging standout cannabis products, retailers, and brands in its Business-to-Business platform that processes more than $4.4 billion in wholesale cannabis orders annually.

City Trees named the bestselling THC distillate brand 

City Trees, the fastest growing and bestselling THC distillate, was named a winner in the Concentrate category. Currently, City Trees creates THC distillate oil for a range of cannabis products out of its state-of-the-art extraction facility in North Las Vegas, making them a truly unique and local business. Also, City Trees has been relentless in its efforts to gain considerable market share inside the concentrate segment as well, having already been acknowledged as Nevada’s number one selling tincture brand.

Chief Operating Officer Andrew Glashow said, “The achievements the City Trees brand and team have made over the past year have been monumental to our business. To be acknowledged by LeafLink as the fastest growing and top selling thc distillate concentrate brand across all markets is validation that we are on the right track. We have set out to create the highest quality product and get it into people’s hands at an affordable price. Clearly that’s working and we are very proud.”

LeafLink links over 2,800 cannabis brands 

LeafLink is a cannabis sector wholesale marketplace linking more than 2,800 cannabis brands with close to 7,300 licensed retailers across 30 legal markets in North America. The LeafLink List is a place to honor the outstanding business. The LeafLink List 2021 was compiled from orders placed on the LeafLink marketplace between January 1 and September 30, 2021.

LeafLink Co-founder and CEO Ryan Smith said, “Each year through LeafLink List, we celebrate the amazing brands and retailers that make up the powerful community within LeafLink’s platform. It has been another strong year for cannabis, with the industry seeing continued growth thanks to the hard work of these amazing businesses and the exceptional people behind them. We’re excited to celebrate this year’s winners, and we can’t wait to see what next year has in store.”

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
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Revive Therapeutics Ltd (OTCMKTS: RVVTF) Submits Orphan Drug Application For Bucillamine For IRI Prevention During Liver Transplant

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Revive Therapeutics Ltd (OTCMKTS: RVVTF) has submitted an application to the US FDA for an Orphan Drug Designation for Bucillamine in ischemia-reperfusion injury (IRI)prevention during a liver transplant.

Ischemia-reperfusion injury doesn’t have any approved treatment 

There are no approved therapies for IRI currently. Ischemia-reperfusion damage is a common complication of liver transplantation and among the main causes of postoperative hepatic dysfunction, increasing morbidity and mortality risk. According to the United Network for Organ Sharing (“UNOS”), 8,906 liver transplants were performed in 2020, with 11,664 people on the liver transplant waiting list at the time of the ODD submission. Many therapeutic techniques have been found to be effective in controlled animal settings, but the majority have generated ambiguous outcomes in clinical practice or are yet to enter human clinical trials.

CEO Michael Frank commented, “We are continuing to advance novel uses of Bucillamine not only as a treatment for infectious diseases, but also for rare conditions that have no treatment options such as IRI. The FDA orphan drug application for Bucillamine as a potential solution in preventing IRI during liver transplantation and subsequently to other organ transplants complements our overall strategy of developing Bucillamine as a strong platform for other conditions.”

Bucillamine has the potential of reducing anti-inflammatory effects during transplant 

According to Revive, Bucillamine usage during liver transplantation has the potential to be a safe and effective way to meet the unmet medical need for a proprietary method to restrict or avoid IRI. Notably, Bucillamine is a cysteine derivative with two donatable thiol groups and can refill the thiol group in glutathione, reactivating the endogenous defense against oxidant harm in the context of IRI. Also, Bucillamine appears to have anti-inflammatory properties unrelated to the antioxidant properties.

The company believes Bucillamine has the potential to solve the shortage of high-quality organs by making steatotic livers less susceptible to IRI and hence more available for transplantation. Most importantly, Bucillamine has the potential to improve graft function and patient outcomes by lessening or preventing IRI during surgery and liver transplantation.

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
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Tinley Beverage Company Inc. (OTCMKTS: TNYBF) To Produce MJ Beverages’ “Mari y Juana” Drinks In California

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The Tinley Beverage Company Inc. (OTCMKTS: TNYBF) has announced that the production of MJ Beverage Co. LLC’s “Mari y Juana” soft drink-style beverages will be in four varieties of cannabis-infused drinks at Tinley’s bottling plant in Long Beach, California, with Hardcar Distribution distributing the beverages.

MJ Beverages introduces “Mari y Juana” to California 

Each 12 fl. oz. Carbonated single-serve bottle of ‘Mari y Juana’ beverages will contain 10 mg of THC as well as a blend of flavorful ingredients. Mandarin Orange (Mandarina), Pineapple (Pia), Guava (Guayaba), and Tamarind (Tamarindo) will be the first four flavors in the product line. All these products inspired by popular Mexican soft beverages seek to appeal to Latino preferences.

MJ Beverages founder and CEO Daniel Torres said, “MJ is excited and grateful to be able to introduce these infused Mexican-inspired beverages to the California cannabis market. Our initial launch of four immediately recognizable SKU’s will help us establish a new targeted brand designed to grow the infused beverage category. ‘Mari y Juana’ aims to address a sector of the market that is currently underserved by existing infused beverages. With a planned accessible price point, our strategically branded drinks will provide consumers new choices that they can immediately identify with, appreciate, and we hope, remain loyal to for years to come.”

Matt McGinn to assist MJ on go-to-market strategy 

The company has partnered with cannabis beverage entrepreneur Matt McGinn, appointed as Chief Global Strategy Officer. McGinn will help MJ in formulation, product execution, and go-to-market strategy.

McGinn commented, “I’m thrilled to be a part of this and be able to bring my years of experience to assist in making this collaborative effort with Tinley’s a successful endeavour.”

Tinley CEO Douglas Fulton said, “The Tinley’s team at Lakewood love these culturally relevant products. We believe that ‘Mari y Juana’ will drive expanded consumer interest in cannabis infused beverages and overall category growth. Working with MJ and Hardcar will allow Tinley’s Lakewood facility to produce and replenish efficiently, to meet retailer and consumer demand,”

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
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