April 2, 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), announced today the acquisition Mayflower Botanicals Inc., a Registered Marijuana Dispensary (“RMD“) certificate holder in Massachusetts. In conjunction with the transaction, Vireo acquired 73 acres of land zoned for the production, processing, and distribution of medical cannabis, with an expedited path toward adult-use licensure.
In 2008, Massachusetts became the 18th state in the United States to adopt a medical cannabis program. In 2016 the state voted to legalize recreational use, and the first recreational sales began on November 20, 2018. According to Massachusetts’ Medical Use of Marijuana Program, in February 2019, there were 59,175 active qualifying patients enrolled in the state’s medical cannabis program. The Massachusetts Cannabis program currently includes 49 Registered Marijuana Dispensaries with certificates to cultivate, process, and distribute cannabis.
This transaction, which was previously disclosed, was financed through a combination of cash and stock and represents Vireo Health’s third acquisition since it began trading on the Canadian Securities Exchange under the ticker symbol “VREO.” Vireo Health now has more than 300 employees in nine states including Arizona, Maryland, Massachusetts, 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