Talk about planning big.
Minnesota-based Vireo Health, the parent company of Minnesota Medical Solutions, announced this week that it’s attempting to raise $31.5 million in equity financing in order to fund expansion into between 17 and 20 new states, according to the Minneapolis/St. Paul Business Journal.
To that same end, Vireo also plans to get approval from the U.S. Food and Drug Administration for cannabis-based medicines it has in development.
On the fundraising end, Vireo CEO Kyle Kingsley told the Journal that he’s got 400-500 individual investors “in the pipeline with us.” Kingsley said the company is already close to raising $6 million of its new goal, on top of $16.6 million it had previously raised.