Ermont

MariMed Closes $58.7 Million Debt Refinancing

Retrieved on: 
Monday, November 20, 2023
Acquisition, CSE, Bank, LLP, Bank of New England, Castle of Castro Marim, Security (finance), Commercial property, Real estate, Ermont, Boston

“I am delighted to announce the closing of this debt refinancing, which will generate significant cash savings,” said Jon Levine, MariMed’s Chief Executive Officer.

Key Points: 
  • “I am delighted to announce the closing of this debt refinancing, which will generate significant cash savings,” said Jon Levine, MariMed’s Chief Executive Officer.
  • Additionally, the credit facility bolsters our ability to continue executing our strategic plan, particularly as it relates to growing the Company through mergers and acquisitions.
  • Burns & Levinson LLP, Boston, MA (Frank A. Segall) and Kurzman Eisenberg Corbin & Lever, LLP, White Plains, NY (Kenneth S. Rose) represented MariMed in connection with the financing transaction.
  • Mr. Segall, Chair of Burns & Levinson LLP ‘s Cannabis Business & Law Advisory Group, assisted in arranging the transaction.

MariMed Announces Close on Acquisition of Ermont, Inc. Operating Assets

Retrieved on: 
Monday, March 13, 2023
Opus, Partner, Little Dog, Cannabis, Consultant, CCC, Castle of Castro Marim, LLP, CSA, Sale, Acquisition, Burns, Patient, Bankruptcy, CSE, Host, Drug, Ermont

(“Ermont”) a vertically integrated medical cannabis operator located in Quincy, MA, today announced the close of MariMed’s transaction to acquire the operating assets of Ermont.

Key Points: 
  • (“Ermont”) a vertically integrated medical cannabis operator located in Quincy, MA, today announced the close of MariMed’s transaction to acquire the operating assets of Ermont.
  • The acquisition marks the second medical dispensary for MariMed in Massachusetts, substantially completing the Company’s buildout to the maximum allowable by state regulations.
  • MariMed’s acquisition includes two Host Community Agreements with the city of Quincy, one of which is to conduct adult-use cannabis sales.
  • Opus Consulting and MariMed negotiated the transaction with court approval, and the acquisition was approved by the CCC on March 9, 2023.

MariMed To Expand Footprint in Massachusetts With Dispensary Acquisition in Quincy

Retrieved on: 
Tuesday, February 21, 2023
Opus, Host, Acquisition, Partner, Partnership, CCC, Castle of Castro Marim, CSE, Drug, Ermont

The acquisition, which is subject to approval by the Massachusetts Cannabis Control Commission (“CCC”), will provide the Company with its third dispensary in Massachusetts, substantially completing its buildout to the maximum allowable by state regulations.

Key Points: 
  • The acquisition, which is subject to approval by the Massachusetts Cannabis Control Commission (“CCC”), will provide the Company with its third dispensary in Massachusetts, substantially completing its buildout to the maximum allowable by state regulations.
  • The acquisition includes two Host Community Agreements with the city of Quincy, one of which is to conduct adult-use cannabis sales.
  • MariMed is applying with the CCC for approval of adult sales and plans to expand the existing medical dispensary to accommodate the increased traffic.
  • “The staff of Ermont has been instrumental to the business this past year, during this complex process and I know they will fit well within the MariMed team.”