{"id":404105,"date":"2020-12-21T17:05:11","date_gmt":"2020-12-21T22:05:11","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=404105"},"modified":"2020-12-21T17:05:11","modified_gmt":"2020-12-21T22:05:11","slug":"vireo-health-announces-closing-of-previously-announced-divestiture-of-pennsylvania-dispensary-solutions","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/vireo-health-announces-closing-of-previously-announced-divestiture-of-pennsylvania-dispensary-solutions\/","title":{"rendered":"Vireo Health Announces Closing of Previously Announced Divestiture of Pennsylvania Dispensary Solutions"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">MINNEAPOLIS<\/span>, <span class=\"xn-chron\">Dec. 21, 2020<\/span> \/PRNewswire\/ &#8212;<b>\u00a0<\/b>Vireo Health International, Inc. (&#8220;Vireo&#8221; or the &#8220;Company&#8221;) (CNSX: VREO,\u00a0OTCQX: VREOF), the science-focused, multi-state cannabis company with licenses in six states and the Commonwealth of <span class=\"xn-location\">Puerto Rico<\/span>, today announced that the sale of its former subsidiary, Pennsylvania Dispensary Solutions, LLC, to a subsidiary of Jushi Holdings, Inc. (&#8220;Jushi&#8221;) (CSE: JUSH, OTCMKTS: JUSHF) closed on <span class=\"xn-chron\">December 18, 2020<\/span>. The transaction resulted in cash proceeds to Vireo of approximately <span class=\"xn-money\">$5.7 million<\/span>.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/842527\/FB_Avatars_Generic_Logo.html\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/842527\/FB_Avatars_Generic_Logo.jpg\" title=\"Vireo Logo (PRNewsfoto\/Vireo Health, Inc.)\" alt=\"Vireo Logo (PRNewsfoto\/Vireo Health, Inc.)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>Chairman and Chief Executive Officer, Dr. <span class=\"xn-person\">Kyle Kingsley<\/span> commented, &#8220;We are pleased with the continued progress of our core market strategy and the improved strength of our balance sheet, and we&#8217;re looking forward to performance contributions from our recently completed capacity expansion projects and new retail store openings. We continue to see significant opportunities to improve revenue growth and profitability in our core markets and remain committed to being strong stewards of capital for our shareholders while executing against our growth and profitability initiatives.&#8221;<\/p>\n<p>\n        <b>About Vireo Health International, Inc.<\/b>\n      <\/p>\n<p>Vireo Health International, Inc. is a physician-led cannabis company focused on bringing the best of technology, science, and engineering to the cannabis industry. Vireo manufactures proprietary, branded cannabis products in environmentally-friendly, state-of-the-art greenhouses and other facilities and distributes its products through its growing network of Green Goods\u2122 retail dispensaries and through hundreds of third-party dispensaries in seven states. Vireo&#8217;s team of more than 400 employees, led by scientists, engineers, and cultivation experts, is focused on efficiency and the creation of best-in-class products, while driving scientific innovation within the cannabis industry and developing meaningful intellectual property. Today, Vireo is licensed to grow and\/or process cannabis in seven markets. The Company is operational in six of those markets \u2013 including the core markets of <span class=\"xn-location\">Arizona<\/span>, <span class=\"xn-location\">Maryland<\/span>, <span class=\"xn-location\">Minnesota<\/span>, <span class=\"xn-location\">New Mexico<\/span>, and <span class=\"xn-location\">New York<\/span>. The Company holds 29 total retail dispensary licenses, of which 13 are currently open for business. For more information about Vireo Health, please visit <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3019978-1&amp;h=2412015894&amp;u=http%3A%2F%2Fwww.vireohealth.com%2F&amp;a=www.vireohealth.com\" rel=\"nofollow noopener noreferrer\">www.vireohealth.com<\/a>. <\/p>\n<div>\n<table id=\"convertedTable219b\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnsbt0 prnsbr0 prnbcc prnsbb0 prnsbl0\">\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <u>Media Inquiries<\/u><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <u>Investor Inquiries<\/u><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Albe Zakes<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Sam Gibbons<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>Vice President, Corporate Communications<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>Vice President, Investor Relations<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">albezakes@vireohealth.com<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">samgibbons@vireohealth.com\u00a0\u00a0 <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(267) 221-4800<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(612) 314-8995<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=CG31130&amp;sd=2020-12-21\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/vireo-health-announces-closing-of-previously-announced-divestiture-of-pennsylvania-dispensary-solutions-301197080.html\">http:\/\/www.prnewswire.com\/news-releases\/vireo-health-announces-closing-of-previously-announced-divestiture-of-pennsylvania-dispensary-solutions-301197080.html<\/a><\/p>\n<p>SOURCE  Vireo Health International, Inc.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=CG31130&amp;Transmission_Id=202012211702PR_NEWS_USPR_____CG31130&amp;DateId=20201221\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire MINNEAPOLIS, Dec. 21, 2020 \/PRNewswire\/ &#8212;\u00a0Vireo Health International, Inc. (&#8220;Vireo&#8221; or the &#8220;Company&#8221;) (CNSX: VREO,\u00a0OTCQX: VREOF), the science-focused, multi-state cannabis company with licenses in six states and the Commonwealth of Puerto Rico, today announced that the sale of its former subsidiary, Pennsylvania Dispensary Solutions, LLC, to a subsidiary of Jushi Holdings, Inc. (&#8220;Jushi&#8221;) (CSE: JUSH, OTCMKTS: JUSHF) closed on December 18, 2020. The transaction resulted in cash proceeds to Vireo of approximately $5.7 million. Chairman and Chief Executive Officer, Dr. Kyle Kingsley commented, &#8220;We are pleased with the continued progress of our core market strategy and the improved strength of our balance sheet, and we&#8217;re looking forward to performance contributions from our recently completed capacity expansion projects and &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/vireo-health-announces-closing-of-previously-announced-divestiture-of-pennsylvania-dispensary-solutions\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Vireo Health Announces Closing of Previously Announced Divestiture of Pennsylvania Dispensary Solutions&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-404105","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Vireo Health Announces Closing of Previously Announced Divestiture of Pennsylvania Dispensary Solutions - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/vireo-health-announces-closing-of-previously-announced-divestiture-of-pennsylvania-dispensary-solutions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vireo Health Announces Closing of Previously Announced Divestiture of Pennsylvania Dispensary Solutions - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire MINNEAPOLIS, Dec. 21, 2020 \/PRNewswire\/ &#8212;\u00a0Vireo Health International, Inc. (&#8220;Vireo&#8221; or the &#8220;Company&#8221;) (CNSX: VREO,\u00a0OTCQX: VREOF), the science-focused, multi-state cannabis company with licenses in six states and the Commonwealth of Puerto Rico, today announced that the sale of its former subsidiary, Pennsylvania Dispensary Solutions, LLC, to a subsidiary of Jushi Holdings, Inc. (&#8220;Jushi&#8221;) (CSE: JUSH, OTCMKTS: JUSHF) closed on December 18, 2020. The transaction resulted in cash proceeds to Vireo of approximately $5.7 million. Chairman and Chief Executive Officer, Dr. Kyle Kingsley commented, &#8220;We are pleased with the continued progress of our core market strategy and the improved strength of our balance sheet, and we&#8217;re looking forward to performance contributions from our recently completed capacity expansion projects and &hellip; Continue reading &quot;Vireo Health Announces Closing of Previously Announced Divestiture of Pennsylvania Dispensary Solutions&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/vireo-health-announces-closing-of-previously-announced-divestiture-of-pennsylvania-dispensary-solutions\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-21T22:05:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/842527\/FB_Avatars_Generic_Logo.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/vireo-health-announces-closing-of-previously-announced-divestiture-of-pennsylvania-dispensary-solutions\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/vireo-health-announces-closing-of-previously-announced-divestiture-of-pennsylvania-dispensary-solutions\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Vireo Health Announces Closing of Previously Announced Divestiture of Pennsylvania Dispensary Solutions\",\"datePublished\":\"2020-12-21T22:05:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/vireo-health-announces-closing-of-previously-announced-divestiture-of-pennsylvania-dispensary-solutions\\\/\"},\"wordCount\":370,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/vireo-health-announces-closing-of-previously-announced-divestiture-of-pennsylvania-dispensary-solutions\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/842527\\\/FB_Avatars_Generic_Logo.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/vireo-health-announces-closing-of-previously-announced-divestiture-of-pennsylvania-dispensary-solutions\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/vireo-health-announces-closing-of-previously-announced-divestiture-of-pennsylvania-dispensary-solutions\\\/\",\"name\":\"Vireo Health Announces Closing of Previously Announced Divestiture of Pennsylvania Dispensary Solutions - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/vireo-health-announces-closing-of-previously-announced-divestiture-of-pennsylvania-dispensary-solutions\/","og_locale":"en_US","og_type":"article","og_title":"Vireo Health Announces Closing of Previously Announced Divestiture of Pennsylvania Dispensary Solutions - Market Newsdesk","og_description":"PR Newswire MINNEAPOLIS, Dec. 21, 2020 \/PRNewswire\/ &#8212;\u00a0Vireo Health International, Inc. (&#8220;Vireo&#8221; or the &#8220;Company&#8221;) (CNSX: VREO,\u00a0OTCQX: VREOF), the science-focused, multi-state cannabis company with licenses in six states and the Commonwealth of Puerto Rico, today announced that the sale of its former subsidiary, Pennsylvania Dispensary Solutions, LLC, to a subsidiary of Jushi Holdings, Inc. (&#8220;Jushi&#8221;) (CSE: JUSH, OTCMKTS: JUSHF) closed on December 18, 2020. The transaction resulted in cash proceeds to Vireo of approximately $5.7 million. Chairman and Chief Executive Officer, Dr. Kyle Kingsley commented, &#8220;We are pleased with the continued progress of our core market strategy and the improved strength of our balance sheet, and we&#8217;re looking forward to performance contributions from our recently completed capacity expansion projects and &hellip; Continue reading \"Vireo Health Announces Closing of Previously Announced Divestiture of Pennsylvania Dispensary Solutions\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/vireo-health-announces-closing-of-previously-announced-divestiture-of-pennsylvania-dispensary-solutions\/","og_site_name":"Market Newsdesk","article_published_time":"2020-12-21T22:05:11+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/842527\/FB_Avatars_Generic_Logo.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/vireo-health-announces-closing-of-previously-announced-divestiture-of-pennsylvania-dispensary-solutions\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/vireo-health-announces-closing-of-previously-announced-divestiture-of-pennsylvania-dispensary-solutions\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Vireo Health Announces Closing of Previously Announced Divestiture of Pennsylvania Dispensary Solutions","datePublished":"2020-12-21T22:05:11+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/vireo-health-announces-closing-of-previously-announced-divestiture-of-pennsylvania-dispensary-solutions\/"},"wordCount":370,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/vireo-health-announces-closing-of-previously-announced-divestiture-of-pennsylvania-dispensary-solutions\/#primaryimage"},"thumbnailUrl":"https:\/\/mma.prnewswire.com\/media\/842527\/FB_Avatars_Generic_Logo.jpg","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/vireo-health-announces-closing-of-previously-announced-divestiture-of-pennsylvania-dispensary-solutions\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/vireo-health-announces-closing-of-previously-announced-divestiture-of-pennsylvania-dispensary-solutions\/","name":"Vireo Health Announces Closing of Previously Announced Divestiture of Pennsylvania Dispensary Solutions - 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