VIREO GROWTH INC - VREOF STOCK NEWS

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.

Vireo Health International, Inc. (CSE: VREO; OTCQX: VREOF) announced the successful sale of its former subsidiary, Ohio Medical Solutions, LLC, to Ayr Wellness, Inc. for $1.15 million in cash and a relief of $3.6 million in lease liabilities. Following this transaction, Vireo aims to enhance growth across its key markets: Arizona, Maryland, Minnesota, New Mexico, and New York. Chairman & CEO Dr. Kyle Kingsley highlighted improved operational strength and confidence in future opportunities, signaling a halt on further asset divestitures.

On March 31, 2021, Vireo Health International Inc. announced a Mutual Release with former Executive Chairman Bruce Linton, resolving outstanding matters between them. Linton, who joined in 2019, had his contract terminated in June 2020. As part of the release, Vireo issued a total of 8 million shares to Linton, 7.1 million from his exercise of warrants at $1.02 each, and an additional 889,519 shares under a private placement. This transaction is classified as a related party transaction under MI 61-101, with independent directors deeming the share issuance reasonable.

On March 30, 2021, Vireo Health International will host the grand opening of its first Green Goods™ dispensary in Frederick, Maryland. The event will take place from 10 a.m. to 2 p.m. ET, featuring on-site tours led by Dr. Paloma Lehfeldt, Vireo's Director of Medical Education. The dispensary will offer a wide selection of Vireo's cannabis products, including 1937™, Amplifi™, and LiteBud™. Additionally, a fundraiser for the Last Prisoner Project will be launched, supporting cannabis-related criminal justice reform. This opening marks Vireo's ongoing expansion in Maryland.

Vireo Health International Inc. has secured a $23.5 million first tranche from a senior secured term loan from Chicago Atlantic Group to fuel its growth initiatives. The loan, part of a total facility of up to $46 million, carries a fixed interest rate of 13.625%. CEO Dr. Kyle Kingsley expressed optimism about leveraging this financing for expansion, particularly in Arizona and Maryland, amid the shift to adult-use cannabis markets. This financing is crucial for Vireo's strategy to capture revenue growth and enhance market presence.