March 28, 2019
Jamie Blundell, President & COO is pleased to provide the following update on Vireo Health, one of CGOC’s public holdings:
Vireo Health International Inc. (“Vireo”), one of CGOC’s private portfolio holdings that recently went public (CSE: VREO), recently announced expansion into New Mexico by way of an acquisition of an entity which manages Red Barn’s vertically integrated operations (holder of one medical cannabis license in New Mexico). Red Barn currently operates two medical cannabis dispensaries, located in Santa Fe and Gallup, and a cultivation and processing facility, located in Gallup.
In 2007, New Mexico became the 12th state in the United States to adopt a medical cannabis program. According to the New Mexico Department of Health Services, in February 2019, there were 70,109 active qualifying patients enrolled in the state’s medical cannabis program. The New Mexico Medical Cannabis program includes 35 Licensed Non-profit Producers (“LNPPs”) which cultivate and distribute cannabis to qualified patients. On March 1, 2019, the New Mexico Department of Health Services enacted an emergency rule that increased the plant limit count from 450 to 2,500 – an increase of over 500 percent.
This transaction, which was previously disclosed, was financed through a combination of cash and stock and represents Vireo Health’s second acquisition since it began trading on the Canadian Securities Exchange under the ticker symbol “VREO.” Vireo Health now has more than 300 employees across operations in eight states including Arizona, Maryland, Minnesota, New Mexico, New York, Ohio, Pennsylvania, and Rhode Island.
To read the full press release click here.
For further information please contact Cannabis Growth Opportunity Corporation:
|Website: www.cgocorp.com||Investor Relations Email: email@example.com|
Vireo Health International, Inc. is America’s leading science-focused, multi-state cannabis company. Vireo’s physician-led team of more than 300 employees provides best-in-class cannabis products and customer experience. Vireo cultivates cannabis in environmentally-friendly greenhouses, manufactures pharmaceutical-grade cannabis extracts, and sells its products at both company-owned and third-party dispensaries. The Company currently has operations in eight states including Arizona, Maryland, Minnesota, New Mexico, New York, Ohio, Pennsylvania, and Rhode Island.
For more information about the company, please visit www.vireohealth.com