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Vireo Growth Inc (VREOF) provides strategic growth solutions through targeted investments and operational optimization. This news hub offers investors and stakeholders timely updates on corporate developments, financial milestones, and market positioning.
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Key updates include quarterly performance disclosures, material business transactions, and operational efficiency initiatives. Bookmark this page for direct access to primary sources on capital deployment strategies and governance practices that drive the company's growth equity approach.
Vireo Growth Inc. (CSE: VREO; OTCQX: VREOF) has announced significant financial developments:
1. A 30-month extension of its credit agreement with Chicago Atlantic, extending the maturity date to January 29, 2027.
2. Voluntary conversion of all outstanding convertible notes by Chicago Atlantic, resulting in the issuance of approximately 73 million Subordinate Voting Shares.
3. Expected interest expense savings of $2.3 million due to early debt conversion.
4. Issuance of 12.5 million Subordinate Voting Shares to lenders for the credit facility amendment.
These developments aim to strengthen Vireo's financial position and support its growth initiatives, particularly in light of upcoming adult-use sales in Minnesota.
Vireo Growth Inc. (CSE: VREO; OTCQX: VREOF), a cannabis company, has announced the release of its second quarter 2024 financial results on August 6, 2024, after market close. The company will host a conference call with investors on the same day at 4:30 p.m. ET to discuss the results. Interested parties can join the call by dialing 1-800-715-9871 (US and Canada, Toll-Free) or 1-646-307-1963 (International, Toll) with conference ID 3718174. A live audio webcast will also be available on the company's Investor Relations website.
Vireo Growth, formerly Goodness Growth Holdings, has announced that its subordinate voting shares will start trading under new ticker symbols from today, July 8, 2024. The shares will be listed as 'VREO' on the Canadian Securities Exchange (CSE) and as 'VREOF' on the OTCQX Market in the United States. This change aligns with the company's rebranding efforts and commitment to providing safe access, quality products, and great value to its customers.
Vireo Health International, Inc. announced a corporate name change to Goodness Growth Holdings, effective June 9, 2021, along with its Horizon Strategy for fiscal year 2022. The company anticipates FY22 revenue of $140 million to $180 million and adjusted EBITDA of $35 million to $55 million. It plans to open 6-10 additional Green Goods™ dispensaries and begin adult-use sales in New Mexico and New York in 2022. Vireo had approximately $40 million in cash as of March 31, 2021, and projects positive cash flow from operations in the first half of 2022.
Vireo Health International, Inc. supports the recent expansion of Minnesota's medical cannabis program, allowing the use of smokable cannabis flower. This change aims to enhance accessibility and affordability for patients, potentially decreasing reliance on illicit markets for cannabis products. Vireo's CEO, Dr. Kyle Kingsley, emphasized the initiative's role in improving public health and safety, particularly in combating opioid use. The company's commitment to scientific innovation is reflected in its operations across eight markets with 16 dispensaries.
Vireo Health International has announced it will host a series of online virtual events on June 8-9, 2021, aimed at both institutional and retail investors. The events include a video webcast featuring the executive leadership team, focusing on the company's long-term vision and financial outlook, and a conference call to discuss business updates. Chairman Kyle Kingsley expressed enthusiasm for sharing insights into Vireo's cannabis assets and expansion projects. Interested parties can register for the events in advance.
Vireo Health International reported first-quarter 2021 revenue of $13.2 million, an 8.8% increase year-over-year, and a 29.8% increase excluding former Pennsylvania subsidiaries. Gross profit rose to $5.6 million, or 42.6% of revenue, reflecting improved operational efficiency. The company is expanding its footprint in key markets like New York and Maryland, anticipating better growth prospects due to recent legislative changes. Despite a $7.0 million net loss, which is an improvement from last year, Vireo's focus on expansion and operational efficiency positions it for future growth.
Vireo Health International, a science-focused cannabis company, will announce its financial results for Q1 2021 on May 14, 2021, before market opens. The conference call will occur at 8:30 a.m. ET on the same day, allowing stakeholders to gain insights into the company's performance. Interested participants can register for the call via a specific link. Vireo operates in eight markets and manages 16 dispensaries, aiming for efficiency and innovation in cannabis production. For more details, visit vireohealth.com.
Vireo Health International, Inc. (CSE: VREO; OTCQX: VREOF) announced the launch of its first line of ground medical cannabis flower in New York, with an initial offering of four strains. Available in 3.5-gram and 7-gram jars, the product aims to improve patient accessibility and affordability. By September, the company plans to expand its selection to over 20 strains. Vireo's dispensaries will carry products from three state-registered growers, marking the largest selection of ground flower in New York. The initiative aligns with efforts to reduce reliance on illicit cannabis markets.
Vireo Health International has completed the expansion of its cannabis cultivation and processing facility in New Mexico. This strategic move includes the opening of two new retail dispensaries in Albuquerque and Las Cruces, pending regulatory approval. The expansion will increase cultivation capacity by up to eight times and create over 30 new jobs. The additional facilities aim to meet rising demand following recent adult-use legislation in the state. Vireo now operates four dispensaries in New Mexico, reinforcing its position in this growing market.
