VIREO HEALTH (VREO)

Vireo Health International, Inc. is America’s leading science-focused, multi-state cannabis company. 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 six states including Minnesota, New York, Pennsylvania, Maryland, Rhode Island, and Ohio.

Offering

On March 18, 2019, Vireo Finco Canada completed the Offering pursuant to which Vireo Finco Canada issued 12,090,937 subscription receipts (the “Subscription Receipts“) at a price of US$4.25 per Subscription Receipt (the equivalent of C$5.67, based on the Bank of Canada exchange rate of C$1.33 per US$1.00 on March 18, 2019) for gross proceeds of US$51,386,482. In connection with the closing of the Business Combination, 12,090,937 Subscription Receipts issued pursuant to the Offering were automatically converted into 12,090,937 common shares in the capital of Vireo Finco Canada and then exchanged into subordinate voting shares of the Company on a one-for-one basis.Vireo Health is actively evaluating opportunities in more than a half a dozen states.

Pipeline Transaction

The Resulting Issuer currently has several transactions in its pipeline, including the following:

  • Vireo recently entered into binding letters of intent to acquire two existing dispensaries in **California**
  • Vireo recently entered into a non-binding letter of intent to acquire a nutraceutical manufacturing company in **Minnesota**
  • Vireo recently entered into a non-binding letter of intent aimed at reducing the manufacturing costs of cannabis and **hemp at agricultural scale**
  • Vireo recently entered into a non-binding letter of intent for a joint venture with a licensed cannabis producer in **Canada** to produce Vireo’s proprietary extracts for sale in Canada and, potentially, other countries.
  • In addition to the foregoing, the Resulting Issuer is actively pursuing a number of other opportunities with third parties

Ongoing Acquisitions

ANR

Vireo entered into a second amended and restated membership interest and stock purchase agreement dated February 26, 2019. The Entities operate and control Arizona Natural Remedies.

C201 and P132

Vireo Health of Nevada I, LLC, entered into two membership interest purchase agreements dated November 14, 2018

Mayflower Botanicals

Vireo entered into a master purchase agreement dated February 1, 2019 with certain sellers (the “Mayflower Sellers”) for the purchase by Vireo, of all of the issued an outstanding equity interests of Mayflower.

Silver Fox

Vireo Health of New Mexico LLC, Silver Fox and certain shareholders of Silver Fox entered into an asset purchase agreement (the “Agreement”) dated February 2019

XAAS

Vireo Health de Puerto Rico, LLC (the “Buyer”) entered into a stock purchase agreement with certain sellers (the “XAAS Sellers”) dated December 7, 2018, for the purchase by the Buyer of all the shares of XAAS for an aggregate purchase price of $1,800,000.

Share Structures

Market Cap (at $5): 550million

Balance Sheet

Operation in the Us

# of States: 10 + Puerto Rico

Source: Listing Statement,

Source: Newsfile

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