Vireo Health International (CSE: VREO) (OTC: VREOF) - Investor Dashboard
|Sector:||Health & Wellness|
|CEO:||Kyle Kingsley, M.D.|
|Fiscal Year-End:||Dec 31|
|Auditor:||Davidson & Company LLP|
|State with Operations:||10|
Financials (Pro Forma 09/30/18)
|Cash on hand:||$51.6 million|
|Fixed Investment:||$21.4 million|
|Shareholders’ Equity:||$98.0 million|
|Revenues – Last Quarter:||$4.9 million|
|Adj. Gross Margin :||59.7%|
Capital Structure (4/30/19)
|Last Financing:||12.1 million shares at US$4.25|
|As-converted Shares:||79.6 million|
|Diluted Shares:||109.8 million|
Vireo Health International, Inc. (CSE: VREO) (OTC: VREOF) is an American leading science-focused, multi-state cannabis company. Upon the successful completion of five pending acquisitions, the Company will operate in 11 states — Minnesota, New York, Pennsylvania, Maryland, Ohio, Rhode Island, Arizona, Massachusetts, Nevada, New Mexico and Puerto Rico.
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.
CEO Dr. Kyle Kingsley provides an introduction to the company and an overview of its research on Midas Letter Live.
- Vireo has a 10-state footprint, with early operations in Minnesota, where it is one of two providers, and New York, where it was one of the first five operators
- Recently completed MA, NM, NV, and AZ acquisitions
- Vireo’s retail outlets are being transformed and rebranded to “Green Goods” dispensaries
- To date, successfully raised $113 million in debt and equity financing to support its multi-state operations and growth plans
- Vireo intends to continue to expand its footprint into multiple new states through cost-effective and opportunistic strategies which involve participating in competitive application processes and acquiring existing licensees
- The company has an LOI for an acquisition in California
- Entered the industrial hemp market and holds two hemp licenses through its wholly-owned subsidiaries
- Its extensive intellectual property portfolio has been developed to build a durable long-term business model that differs from peers
- Focused on transformative intellectual property ranging from novel product formulations, to agricultural scale cannabinoid production processes and equipment
- Vireo plans to leverage its medical, scientific and operational expertise to efficiently expand its operation in existing markets and enter new markets
- The company is focused on prudent capital allocation and aims to enter new markets cost effectively
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