MariMed to Acquire Majority Stake in International CBD Pioneer MediTaurus; Dr. Jokūbas Žiburkus Appointed MariMed Chief Innovation Officer

NORWOOD, MA, April 25, 2019 (GLOBE NEWSWIRE) — MariMed Inc. (OTCQB: MRMD) one of the largest multi-state cannabis and hemp operators in the U.S., today announced that its MariMed Hemp subsidiary will acquire 70% of MediTaurus, LLC, owner of the international Florance™ brand of CBD health and wellness products and extensive intellectual property (IP) relating to cannabis formulations. The Florance™ brand is established in the U.S. and EU with online distributors, wholesalers, pharmacies and physicians. Terms of the transaction were not disclosed. This is the first acquisition for MariMed Hemp, which was formed to optimize MariMed’s strategic investment in GenCanna Global, Inc., the Kentucky-based producer of compliant, quality CBD derived from hemp.

READ MORE: http://www.globenewswire.com/news-release/2019/04/25/1809737/0/en/MariMed-to-Acquire-Majority-Stake-in-International-CBD-Pioneer-MediTaurus-Dr-Jok%C5%ABbas-%C5%BDiburkus-Appointed-MariMed-Chief-Innovation-Officer.html