Navy Capital Makes $14+ Million Investment in MariMed
Investment helps fund MariMed’s acquisitions and operations
NORWOOD, MA and NEW YORK, Nov. 27, 2018 (GLOBE NEWSWIRE) — MariMed, Inc. (OTCQB: MRMD), a multi-state cannabis operator which develops, owns and manages cannabis facilities and branded products lines, announced today that Navy Capital Green Fund, LP (“Navy Capital”), made a $14.725 million investment in MariMed in November 2018 (some of which was reported in MariMed’s last 8K SEC filing). Navy Capital is the first US-based Long/Short Equity Hedge Fund dedicated solely to the legal cannabis industry.
Navy Capital’s $14.7 million investment in MariMed reflects our belief that MariMed is one of the best-managed multi-state cannabis operators in the United States. This investment will help MariMed grow its best-in-class cannabis facilities. We are very impressed with the company, and have participated in three financings since we first met MariMed CEO Bob Fireman and his team.
Sean Stiefel, Navy Capital Portfolio Manager
Referring to MariMed’s recent $30 million investment in GenCanna, a global leader in CBD hemp production, Stiefel added, “MariMed’s investment in GenCanna adds an exciting new revenue stream from cannabinoids that may soon be marketed across the U.S. and globally.”
Navy Capital is a valued partner whose ongoing funding is helping us execute our growth strategy. Part of this investment was used to fund our new partnership with GenCanna, a major producer of CBD derived from hemp. We intend to help GenCanna develop and distribute innovative brands of CBD-infused health and wellness products.
Robert Fireman, MariMed CEO
We’ve reported two years of uninterrupted year-over-year quarterly revenue growth. Navy Capital’s infusion of capital will help us maintain that revenue growth in 2019 and beyond.
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About Navy Capital
Navy Capital’s research-oriented, fundamentally driven investment process focuses on identifying attractive opportunities within the legal cannabis space. Navy Capital seeks to find the best in class businesses within key verticals of the global cannabis industry. Those verticals include Consumer, Healthcare, Technology, Industrials, and Agriculture.
What We Look For
Navy Capital invests in 20-30 publicly traded and select private companies that will gain market share over time in their respective verticals. Businesses that have recurring revenue and management teams that have a large share of their net worth in the company and are deeply passionate about their culture and customers are the most attractive to us. For more information, visit navycapital.com
About MariMed Inc.:
MariMed is a multi-state cannabis operator that develops, owns and manages cannabis facilities and branded products lines. MariMed’s team has developed state-of-the-art, regulatory-compliant facilities in DE, IL, NV, MD, MA, and RI. They are considered models of excellence in horticultural principles, cannabis production, product development and dispensary operations. In addition, MariMed is on the forefront of precision-dosed branded products for the treatment of specific medical symptoms. MariMed currently distributes its branded products in select states, and is expanding licensing and distribution to numerous additional markets, encompassing thousands of dispensaries. MariMed Inc. is one of the top-performing public cannabis companies in the U.S. tracked on the U.S. Marijuana Index, (www.marijuanaindex.com). For additional information, visit www.MariMedAdvisors.com
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