BOSTON, May 11, 2017 (GLOBE NEWSWIRE) -- Worlds Online (OTCQB:MRMD) formerly (OTCQB:WORX) has acquired the remaining 49% stake in MariMed Advisors for 75 million shares of common stock (restricted for 12 months), bringing its ownership of the subsidiary to 100%. Worlds Online has changed its name to MariMed Inc., and will focus solely on servicing the rapidly expanding $7 billion legal cannabis industry. MariMed is now trading under the new ticker “MRMD”. MariMed Inc., will spin out Worlds Online’s legacy 3D virtual community business to a newly formed subsidiary corporation.
MariMed Inc., will continue to support and expand the three synergistic lines of cannabis businesses developed by MariMed Advisors:
1) Managed Services - Design, develop, and manage operations of state licensed, state of the art cultivation, production, and dispensing cannabis facilities;
2) Real Estate Investment Capital - Purchase properties; fund building improvements, cultivation and production systems, and equipment which are leased to licensed cannabis companies, and capitalize on the lack of conventional banking and capital to the cannabis industry as a result of federal laws and corporate policies; and
3) Licensing and Branding – Market its Kalm Fusion brand of cannabis infused products through MariMed’s network of licensed manufacturers, distributors, and dispensaries in legal cannabis states/provinces across the US and Canada.
“I expect this reorganization of the company with a single business focus and new name will help us move to the next level after having established a solid reputation developing some of the foremost cannabis facilities with best business practices for the medical cannabis industry,” said Mr. Robert Fireman, CEO of MariMed Advisors, Inc. “With our new focus as a publicly traded legal cannabis business, we look forward to leveraging our competitive advantages and innovative leadership to expand our market share and prominence. The projected growth of legal marijuana presents a tremendous opportunity for those capable of navigating the complex landscape. Our experienced team has the legislative expertise, industry knowledge and strategic relationships, now backed by the public corporation structure necessary to more efficiently capitalize on the opportunity.”
“The consolidation of the remaining 49% of MariMed Advisors and spin out of the 3D assets will allow us to focus all of our resources on the cannabis industry, which the Cowen Report projects will grow to $50 billion in the U.S. by 2026,” stated Mr. Jon Levine, MariMed Advisors, Inc. CFO. “Being a single-focus business will allow us to communicate a clear message to our clients, shareholders and potential investors that we are fully committed to leveraging the power of the capital markets for our strategic growth in the cannabis industry. We anticipate increasing our shareholder value as we expand MariMed’s presence in an industry that is seeing dramatically growing public interest and investment coupled with high valuations and multiples.”
About MariMed (formerly Worlds Online): MariMed Inc. is an industry leader in the design, development, operation, funding and optimization of medical cannabis cultivation and production centers and dispensaries. The MariMed team has developed, state of the art and regulatory compliant facilities in multiple states. These facilities are replicable and scalable model of excellence in horticultural principals, cannabis production, product development and dispensary operations. We are on the forefront of medical research working to create precision dosing to treat specific conditions. For further information visit MarimedAdvisors.com
