Vireo Health

Marijuana MSO Vireo Health takes new name, moves into psychedelics

Minneapolis-based multistate marijuana operator Vireo Health made two strategic moves Tuesday, announcing a name change to Goodness Growth Holdings and an expansion into psychedelics. Vireo will remain the flagship brand of the company’s medical products, according to a news release timed with the firm’s Investor Day events. Some analysts see the modest-sized MSO as a […]

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Cannabis MSO Vireo Health closes $23.5M loan, reports 2020 earnings

Multistate cannabis company Vireo Health International closed the first tranche of a senior secured loan worth $23.5 million. Minneapolis-based Vireo said the loan will be used “to support the company’s ongoing growth initiatives and working capital requirements.” “This facility allows Vireo to continue pursuing first-mover advantages in markets where we see potential for revenue growth […]

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Marijuana firm Vireo files prospectus to issue up to $200 million in securities

Minneapolis-based Vireo Health International said it has filed a preliminary prospectus in Canada to sell as much as 260 million Canadian dollars ($200 million) in securities if and when market opportunities permit. Such a shelf offering doesn’t mean a company will sell the securities, but it gives a business the option when market conditions are […]

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Marijuana multistate operators set to capitalize on new markets, but small firms face hurdles

Get insights on cannabis investing and what the post-election investment climate looks like during the Investor Intelligence Conference portion of MJBizCon’s Passholder Days on Thursday, Nov. 12. (The graphic above has been corrected to reflect that Acreage Holdings has a cultivation/processing operation in Pennsylvania but no retail locations and that Harvest Health & Recreation has […]

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Asset sales, market growth might boost cannabis multistate operator finances

Publicly traded multistate marijuana operators appear to be in better financial health than they were at the beginning of the year, but many have shed operations in potentially lucrative markets to bolster their balance sheets. MSOs are benefiting from growing marijuana markets, strong sales during the coronavirus pandemic and some easing in the capital markets […]

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Jushi completes $37 million deal for Pennsylvania marijuana cultivator

Multistate marijuana operator Jushi Holdings completed its acquisition of Vireo Health International’s cultivation and processing operations in Pennsylvania for $37 million as Jushi looks to maximize its footprint in the state’s fast-growing medical cannabis market. To fund the purchase of Pennsylvania Medical Solutions, which included $16.3 million in cash, Florida-based Jushi recently closed on a […]

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Multistate marijuana operator Jushi upsizes debt financing to $33.3 million

Florida-based multistate marijuana and hemp operator Jushi Holdings increased a debt financing announced in late July by roughly $18 million, citing strong demand from shareholders and management. The debt financing, which was meant to fund Jushi’s $37 million purchase of grower-processor Pennsylvania Medical Solutions (PAMS) from Minneapolis-based MSO Vireo Health International, was previously worth $15.25 […]

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Marijuana MSO Jushi buys Vireo grow facility in Pennsylvania for $37 million

Florida-based Jushi Holdings, a multistate marijuana and hemp company, agreed to purchase Vireo Health International’s grower-processor operations in Pennsylvania for $37 million. To fund the purchase, Jushi secured $15.25 million in debt financing that was led by insiders and existing shareholders. The acquisition involves the purchase of Pennsylvania Medical Solutions (PAMS), a licensed medical marijuana grower-processor […]

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Week in Review: Renewed cannabis diversity efforts, Tilray execs sued, Canopy’s rich CEO package & more

Protests across the United States over the treatment of black Americans have prompted calls for companies to address racial inequities and increase diversity. The cannabis industry has a long way to go, as evidenced by a recent study of Denver’s marijuana market. But Illinois-based Cresco Labs took a step this week by appointing the first […]

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Vireo Health parts ways with marijuana industry veteran Bruce Linton

Cannabis multistate operator Vireo Health International terminated former Executive Chair Bruce Linton, effective immediately and “on an entirely without-cause basis,” the company announced Monday in a news release. Linton’s exit comes roughly seven months after his November hiring, and Vireo said it does not expect to hire a new executive chair. Linton will remain on […]

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Marijuana firm Vireo Health raises CA$10.5 million

Bruce Linton, the high-profile executive chairman of multi-state cannabis operator Vireo Health, invested $1 million in the Minneapolis-based company through a private placement stock offering that he organized. Linton, who was named executive chairman of Vireo last November, acquired 1.74 million of the 13.65 million units issued in the private placement. The units consist of one share and […]

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