Vireo Health

Vireo agrees to milestone medical cannabis labor pact in Pennsylvania

Published October 10, 2019 | By Jeff Smith

Minnesota-based Vireo Health, a multistate marijuana operator, signed the first vertically integrated medical cannabis labor agreement in Pennsylvania, a deal that is being touted as a win for both the employees and the company. The three-year pact is between Vireo’s Pennsylvania Medical Solutions subsidiary and the United Food and Commercial Workers (UFCW) Local 1776. The […]

Vireo Health posts cannabis revenue rise, net loss for second quarter

Published August 29, 2019

Vireo Health, a Minneapolis-based multistate marijuana operator, on Thursday reported revenue of $7.2 million in the second quarter, up 70% from the same period a year ago. The net loss for the quarter, ending June 30, was approximately $1.9 million, compared with net income of $120,080 for the prior-year period. The company recently announced it […]

Vireo Health moving fast as it focuses on cannabis science, consumers and shareholder value

Published August 22, 2019

Vireo Health, the Minneapolis-based vertically integrated cannabis company, has been very busy since it started trading on the Canadian Securities Exchange March 20. The physician-led group, which trades under the ticker VREO, has made acquisitions in four states since then, entering the Arizona, New Mexico, Massachusetts and Nevada markets. The fact that the two most […]

Cannabis company Vireo Health expands into Puerto Rico

Published June 20, 2019

Vireo Health, a Minneapolis-based multistate marijuana operator, said it is expanding into Puerto Rico, the company’s 11th state or territory of cannabis operations. Vireo will have the opportunity in Puerto Rico to run a cultivation and processing facility plus up to six dispensaries on the island. Christian Gonzalez, a native of the territory who has […]

Smuggling case involving ex-execs at marijuana firm Vireo will proceed, court says

Published May 21, 2019

A Minnesota appellate court refused to dismiss interstate cannabis smuggling charges against two former Vireo Health executives, allowing the case to proceed to trial. Marijuana businesses have closely watched the situation because of its implications for MJ firms with affiliates in more than one state, the Rockland/Westchester Journal News noted. In this case, two Vireo Health officials […]

Q4 revenue jumps 72% for cannabis group Vireo amid state expansion

Published April 30, 2019

Vireo Health International, the Minneapolis-based, vertically integrated marijuana firm, reported revenue of $5.6 million for the fourth quarter of 2018, up 72% from the same period the prior year. Net loss for the quarter totaled $1.2 million versus profit of just over $293,000 in the same period 2017. The net loss was attributable in part […]

Weekly Deal Watch: Debt capital raises increase among public cannabis companies

Published April 4, 2019

While the total number of capital raises in the cannabis industry so far this year remains less than the same period in 2018, debt raises among publicly traded companies are significantly outpacing those of last year.

Vireo enters Arizona medical cannabis market

Published March 26, 2019

Vireo Health, a Minneapolis-based cannabis group, said it is expanding into Arizona with the acquisition of Arizona Natural Remedies (ANR). Vireo declined to disclose the value of the acquisition. The company, which started trading on the Canadian Securities Exchange earlier this month, will now operate in seven states. ANR operates a dispensary in Phoenix and an Amado-based cultivation […]

New Jersey medical cannabis expansion attracts multistate MMJ businesses

Published September 19, 2018 | By Jeff Smith

A number of multistate operators are vying for the coveted six additional medical marijuana licenses in New Jersey’s rapidly growing MMJ industry, underscoring the increasing attraction of the Garden State market. The New Jersey Department of Health has made the list of applicants available but said no further information would be released until the licenses […]

Medical cannabis firm Vireo Health raises $16 million, plans to go public in Canada

Published August 7, 2018

Minneapolis-based Vireo Health raised $16 million ahead of its plans to take the company public in Canada. The firm completed a private placement of more than 357,000 of its Series D shares, yielding gross proceeds of $16 million. A final tranche of the offering is expected to close in the coming weeks, which is expected […]

Maryland medical marijuana company has license reinstated

Published July 18, 2018

MaryMed has been given another chance at Maryland’s medical marijuana market after a judge ruled that the MMJ company likely didn’t violate the law. The Baltimore Business Journal reported the Dorchester-based company received preapproval from state regulators in 2016 to open cultivation, retail and processing operations. But the licenses were rejected after the state began […]

Marijuana REIT, Vireo involved in $5.8 million property deal in Pennsylvania

Published April 11, 2018

Innovative Industrial Properties, a San Diego-based real estate investment trust (REIT) that deals with medical marijuana growers, acquired an 89,000-square-foot industrial space in Scranton, Pennsylvania, for $5.8 million as part of a sale-leaseback transaction. According to a news release, Innovative Industrial Property will lease the property to a subsidiary of Vireo Health, a multistate MMJ company. […]