If nothing else, Marimed Inc (OTCMKTS:MRMD), in its most recent release, provides an interesting case study and update on the evolution of the bear market in the CBD space. The company just issued a statement regarding the recent development that GenCanna Global, Inc., a vertically-integrated producer of hemp and hemp-derived CBD products that is 33% owned by MRMD, has filed for voluntary reorganization under Chapter 11 in the Eastern Kentucky United States District Court.
According to the release, GenCanna “has filed a petition for voluntary Chapter 11 reorganization with the U.S. Bankruptcy Court in the Eastern District of Kentucky (the “Court”). The filing will allow GenCanna to continue to operate its business without interruption to customers, vendors, partners and employees while working through a reorganization plan that could include refinancing of the Company’s existing indebtedness, or an alternative restructuring transaction such as a sale.”
Marimed Inc (OTCMKTS:MRMD) is an industry leader in the design, development, operation, funding, and optimization of medical cannabis cultivation, production, and dispensary facilities. MariMed’s team has developed state-of-the-art, regulatory-compliant legal cannabis facilities in multiple states.
These facilities are models of excellence in horticultural principals, cannabis production, product development, and dispensary operations. MariMed is on the forefront of precision dosed cannabis medicine for the treatment of specific medical conditions. MariMed branded products are being licensed and distributed in legal cannabis states across the country.
We have licensed Tikun Olam world renown Israeli cannabis genetics with 5 years of clinical data for our Delaware managed facility.
Moreover, MariMed Inc. provides consulting services for the design, development, operation, funding, and optimization of medical cannabis cultivation, production, and dispensary facilities. The company also develops and manages facilities for the cultivation, production, and dispensing of legal cannabis and cannabis-infused products under the Kalm Fusion brand name. In addition, it offers legal,