GOODNESS GROWTH HLDGS INC - GDNSF STOCK NEWS

Goodness Growth Holdings announced the results of its Annual General and Special Meeting of shareholders held on June 21, 2024. Shareholders voted to fix the number of directors at five and elected Dr. Kyle E. Kingsley, Ross M. Hussey, Victor E. Mancebo, Judd T. Nordquist, and Josh Rosen to the board. Additionally, they ratified the 2019 Incentive Plan, including all unallocated and recent awards. Davidson & Company LLP was re-appointed as the auditor, with the board authorized to set their remuneration. Details are available on SEDAR+.

Goodness Growth Holdings (CSE: GDNS; OTCQX: GDNSF) announced the closing of a non-brokered private placement of its subordinate voting shares on June 14, 2024, generating gross proceeds of $700,000. The company issued 1,300,078 subordinate voting shares at a 30-day volume weighted average price of $0.5384 as of May 17, 2024. The funds will support the relocation of a retail dispensary in Minnesota. Additionally, Goodness Growth secured a short-term extension of its credit agreement with Chicago Atlantic Admin, , until July 31, 2024, while negotiating a long-term extension. CEO Josh Rosen highlighted the lender's support and noted the strategic investment for launching adult-use sales in Minnesota.

Goodness Growth Holdings (CSE: GDNS; OTCQX: GDNSF) announced a non-brokered private placement investment of its subordinate voting shares, aiming to secure approximately US $700,000. The funds will support the relocation of a retail dispensary in Minnesota. The shares will be priced at a 30-day VWAP as of the day before closing and are subject to a statutory hold period of four months plus one day. The transaction is expected to finalize within the next five business days. Proceeds will assist in a mortgage note for the dispensary's relocation.

Goodness Growth Holdings, a cannabis company, reported Q1 2024 revenue of $21.1 million, a 44.5% increase YoY. They announced legal actions with Verano, launched new branded beverages, and made significant corporate updates. The company improved financial metrics, but faces challenges in credit, litigation with Verano, and liquidity.

Goodness Growth Holdings, Inc. has filed for summary determination in litigation with Verano Holdings, Inc. over the termination of a share exchange agreement. Goodness Growth seeks substantial damages of US $860.9 million for Verano's breach of contract. CEO Josh Rosen emphasizes the company's commitment to protecting its assets and pursuing justice.

Goodness Growth Holdings, Inc. announced leadership updates with Josh Rosen becoming the Chief Executive Officer, key personnel changes, a credit agreement extension, and a planned corporate name change to Vireo. The company's focus on operational and financial performance improvement was highlighted, along with a commitment to delivering quality products and services to customers.

Goodness Growth Holdings, Inc. will release its financial results for the first quarter ended March 31, 2024 on May 7, 2024. The company aims to provide safe access, quality products, and value to its customers. Management will host a conference call to discuss the results on the same day.

ACE Venture Enterprises, Inc., a minority-owned business, plans to acquire Vireo Health of New York to enter the New York market. The terms include a purchase price of $3 to $5 million, $20 million investment for a cultivation and manufacturing campus, and assumption of the IIP lease.

Goodness Growth Holdings, Inc. reports record revenue and operating income in fiscal year 2023, with Q4 2023 revenue of $24.2 million, a 34.4% increase year-over-year. Operating income reached $5.4 million, marking the second consecutive quarter above $5 million. The company showed improvements in revenue, gross margin, and operating profit throughout 2023, positioning itself for growth in 2024. Despite positive financial results, the company faces compliance issues with its credit agreement due to pending divestment of New York operations.