Buy Or Sell Opportunity • Jun 07
Now 89% undervalued after recent price drop Over the last 90 days, the stock has fallen 97% to €0.32. The fair value is estimated to be €2.90, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 51% over the last 3 years. Earnings per share has grown by 40%. Announcement • May 26
Vireo Growth Inc. (CNSX:VREO) signed a letter of intent to acquire Bridgewell Agribusiness LLC from Bwab Holdings, Llc for $40.3 million. Vireo Growth Inc. (CNSX:VREO) signed a letter of intent to acquire Bridgewell Agribusiness LLC from Bwab Holdings, Llc for $40.3 million on May 25, 2026. The consideration consists of convertible debt of Vireo Growth Inc. having a value of $10.26 million to be issued for common equity of Bridgewell Agribusiness LLC. The aggregate consideration for the Bridgewell Transaction is based on a base purchase price of US$40 million, subject to adjustments for, among other things, approximately US$30 million of assumed indebtedness of Bridgewell that will remain outstanding following closing and the assumption of certain other transaction expenses. After giving effect to such adjustments, the estimated closing purchase price is expected to be approximately US$10.26 million In exchange for the issued and outstanding membership interests of Bridgewell, Vireo will issue an unsecured, subordinated convertible note to the Seller (the “Convertible Note”) in the aggregate principal amount equal to the closing purchase price, which will automatically convert on or after the second anniversary of closing into an estimated 16,552,150 subordinate voting shares of Vireo (the “Consideration Shares”) at a deemed price of US$0.62 per Consideration Share (which final price will be subject to the policies of the Canadian Securities Exchange and based on the volume weighted average trading price of the Company’s subordinate voting shares for 20 consecutive trading days ending two trading days prior to the closing date). The aggregate principal amount of the Convertible Note and number of Consideration Shares issuable thereunder are subject to certain post-closing purchase price and other adjustments.
The transaction is subject to approval by regulatory board / committee and definitive agreement. The Bridgewell Transaction could close any time following five (5) business days. Announcement • May 07
Vireo Growth Inc. to Report Q1, 2026 Results on May 12, 2026 Vireo Growth Inc. announced that they will report Q1, 2026 results Pre-Market on May 12, 2026 Announcement • May 02
Vireo Growth Inc. (CNSX:VREO) entered into a definitive arrangement agreement to acquire FLUENT Corp. (CNSX:FNT.U) for $19.2 million. Vireo Growth Inc. (CNSX:VREO) entered into a definitive arrangement agreement to acquire FLUENT Corp. (CNSX:FNT.U) for $19.2 million on April 30, 2026. As part of the acquisition, Vireo Growth Inc. will acquire all of the issued and outstanding common shares of FLUENT Corp. As part of consideration, each shareholder of FLUENT Corp will receive 0.0705359 of a subordinate voting share of Vireo Growth Inc in exchange for each FLUENT Corp Share held. Following the completion of the Transaction, FLUENT will join the Vireo ecosystem and gain exposure to a larger and well capitalized multi-state operator currently operating in 10 states across the U.S. In connection with the Transaction, Vireo has entered into voting support agreements with certain directors, officers and key shareholders of FLUENT, with such holders representing approximately 38.3% of the issued and outstanding FLUENT Shares, pursuant to which they have agreed to, among other things, vote their FLUENT Shares in favor of the Transaction. Chris Hagedorn has resigned from the FLUENT Board. The vacancy will not be filled at this time. Upon completion, it is expected that the FLUENT Shares will be delisted from the Canadian Securities Exchange (“CSE”) and the OTCQB Venture Market and that FLUENT will apply to cease to be a reporting issuer under applicable Canadian securities laws. In case of termination of transaction, FLUENT Corp. will pay a termination fee of $2 million to Vireo Growth Inc.
The transaction is subject to court approvals, as well as the receipt of all required regulatory approvals, the completion of the Equitization, and the satisfaction of certain other closing conditions customary in transactions of this nature, approval by the shareholders of FLUENT Corp and other third-party approvals. The Board of Directors of FLUENT Corp. formed a special committee for the transaction. The Special Committee and the FLUENT Board have unanimously determined that the Transaction is in the best interests of FLUENT and is fair to the FLUENT Shareholders and the FLUENT Board recommends that the FLUENT Shareholders vote in favor of the Transaction. The transaction is expected to close in the fourth quarter of 2026.
ATB Cormark Capital Markets acted as fairness opinion provider to the Special Committee and board of directors of FLUENT Corp. ATB Cormark Capital Markets acted as financial advisor to the Special Committee of FLUENT Corp. Cassels Brock & Blackwell LLP acted as legal advisor to FLUENT Corp. Goodwin Procter LLP acted as legal advisor to FLUENT Corp. DLA Piper (Canada) LLP acted as legal advisor to Vireo Growth Inc. Eversheds Sutherland (US) LLP acted as legal advisor to Vireo Growth Inc. Shenker Russo & Clark LLP acted as legal advisor to Vireo Growth Inc. Foley & Lardner LLP acted as legal advisor to Vireo Growth Inc. Announcement • Apr 17
Vireo Growth Inc. announced that it has received $50.612571 million in funding On April 16, 2026. Vireo Growth Inc. announced that it has closed the transaction. Announcement • Apr 09
Vireo Growth Inc. (CNSX : VREO) completed the acquisition of The Hawthorne Gardening Company from Smg Growing Media, Inc. for 84.6 million. Vireo Growth Inc. (CNSX : VREO) entered into a nonbinding memorandum of understanding to acquire The Hawthorne Gardening Company from Smg Growing Media, Inc. for approximately $120 million on January 15, 2026. As part of consideration Vireo Growth Inc. issued 206 million ordinary shares, a warrant to purchase 80 million at an exercise price of $0.85 per Share, exercisable for a period of five years from the date of issuance. Additional Vireo Growth Inc. acquire The Hawthorne Gardening Company $35 million of cash, approximately $50 million of net working capital, and would be provided approximately $20 million of inventory.
Vireo intends to name Chris Hagedorn, Executive Vice President of ScottsMiracle-Gro and Executive Lead of the Hawthorne business, to its Board of Directors upon completion of the transition upon completion of the transaction and shareholder approval.
The transaction is subjected to regulatory approvals and the finalization of a definitive agreement. If applicable, the approval of the Canadian Securities Exchange. The expected to be completed during the second quarter of 2026.
Vireo Growth Inc. (CNSX : VREO) completed the acquisition of The Hawthorne Gardening Company from Smg Growing Media, Inc. for 84.6 million on April 8, 2026. Under the terms of the transaction, Vireo Growth Inc. acquired $35 million of cash held by Hawthorne, and issued 213 million of its subordinate voting shares and a warrant to purchase 80 million at an exercise price of $0.85 per Share. Announcement • Apr 01
Vireo Growth Inc. Announces Cory Azzalino to Step into the CEO Role of Vireo’s California Business Vireo Growth Inc. announced Cory Azzalino will step into the CEO role of Vireo’s California business – Cory and his team bring operational acumen and emphasis on retail excellence which strengthens Vireo’s platform. Announcement • Mar 17
Vireo Growth Inc., Annual General Meeting, May 29, 2026 Vireo Growth Inc., Annual General Meeting, May 29, 2026. Announcement • Mar 10
Vireo Growth Inc. to Report Q4, 2025 Results on Mar 17, 2026 Vireo Growth Inc. announced that they will report Q4, 2025 results Pre-Market on Mar 17, 2026 Announcement • Jan 28
Vireo Growth Inc. (CNSX : VREO) entered into a nonbinding Memorandum of Understanding to acquire The Hawthorne Gardening Company from Smg Growing Media, Inc. Vireo Growth Inc. (CNSX : VREO) entered into a nonbinding memorandum of understanding to acquire The Hawthorne Gardening Company from Smg Growing Media, Inc. on January 28, 2026. Upon completion, Vireo intends to name Chris Hagedorn, Executive Vice President of ScottsMiracle-Gro and Executive Lead of the Hawthorne business, to its Board of Directors. Announcement • Dec 23
Vireo Growth Inc. (CNSX:VREO) agreed to acquire Eaze Technologies, Inc. for $48.9 million. Vireo Growth Inc. (CNSX:VREO) agreed to acquire Eaze Technologies, Inc. for $48.9 million on December 22, 2025. The consideration is payable through the issuance of approximately 84 million subordinate voting shares of the Vireo at closing. Total consideration payable in the transaction will be subject to adjustment based on closing levels of cash, indebtedness, tax obligations and working capital adjustments, as well as the occurrence of certain other events by the closing date. Eaze may be entitled to earn-out consideration as of December 31, 2026. Eaze will become a wholly-owned subsidiary of Vireo.
The expected completion of the transaction is January 1, 2026 to June 30, 2026. Announcement • Dec 18
Vireo Growth Inc. (CNSX:VREO) entered into an asset purchase agreement to acquire Certain retail assets and properties of PharmaCann Inc. for $49 million. Vireo Growth Inc. (CNSX:VREO) entered into an asset purchase agreement to acquire Certain retail assets and properties of PharmaCann Inc. for $49 million on December 16, 2025. Total consideration is payable in subordinate voting shares of the Vireo Growth, as well as the assumption of certain liabilities.
The transaction is subject to satisfaction of closing conditions and state and local regulatory approvals. The transaction is expected to close during the first half of calendar year 2026. Announcement • Oct 31
Vireo Growth Inc. to Report Q3, 2025 Results on Nov 12, 2025 Vireo Growth Inc. announced that they will report Q3, 2025 results After-Market on Nov 12, 2025 Announcement • Oct 29
Vireo Growth Inc. and Verano Holdings Corp. Reaches Comprehensive Settlement Dismissing All Outstanding Litigation Matters Vireo Growth Inc. and Verano Holdings Corp. on October 29, 2025 announced that they have reached a comprehensive settlement dismissing all outstanding litigation matters between the two Companies that are pending before the Supreme Court of British Columbia, Canada. The terms of the Settlement Agreement were approved by the respective Boards of Directors of both Companies. The value of the settlement to Vireo is approximately USD 10 million consisting of the acquisition of certain real estate assets and USD 1 million in cash. The resolution marks the conclusion of a complex legal chapter and reflects a commitment by both Companies to move forward in a constructive manner. Both Companies reiterated their dedication to delivering long-term value to their shareholders and quality products and services to their customers. Announcement • Oct 24
Vireo Growth Inc. announced that it has received $61.996221 million in funding On October 23, 2025, Vireo Growth Inc closed the transaction. The transaction included participation from 22 investors. Announcement • Sep 16
Vireo Growth Inc. Announces Launch of Adult-Use Cannabis Sales in Minnesota Vireo Growth Inc. announced that on September 16, 2025, it recorded its first sale of adult use cannabis in Minnesota at its historic downtown Minneapolis Green Goods® dispensary. The Company is now dispensing a full suite of both medical and adult-use cannabis products at all eight of its Green Goods™ dispensaries located throughout the State of Minnesota. Vireo has been operating in Minnesota’s medical cannabis market since 2014, serving tens of thousands of patients with safe, reliable products. The Company is committed to expanding access, improving product quality, and supporting the state’s transition to a sustainable, locally driven adult-use market. As one of the state’s operational licensed adult-use cannabis cultivators and retailers, and a population of 5.7 million people, the launch of Minnesota’s adult-use cannabis market is expected to serve as a strong organic revenue growth catalyst for Vireo for the foreseeable future. Green Goods® offers a full suite of medical and adult-use cannabis products and form factors including flower, pre-rolls, edibles, and beverages, and currently operates eight retail dispensaries in Minnesota. Green Goods® dispensaries are located in Minneapolis, Blaine, Bloomington, Burnsville, Duluth, Moorhead, Rochester, and Woodbury. For more information about Green Goods or to shop its product menu, please visit www.visitgreengoods.com. Announcement • Aug 05
Vireo Growth Inc. to Report Q2, 2025 Results on Aug 13, 2025 Vireo Growth Inc. announced that they will report Q2, 2025 results Pre-Market on Aug 13, 2025 Announcement • Jul 10
Vireo Growth Inc. announced that it has received $10 million in funding from Chicago Atlantic Opportunity Finance, LLC Vireo Growth Inc announced that it has completed a private placement and issued $10,000,000 principal amount of convertible Notes on July 9, 2025. The Notes are convertible into an aggregate of 16,000,000 Shares upon exercise. The new convertible note was issued in reliance upon exemptions from the registration requirements of the U.S. Securities Act of 1933, as amended and applicable Canadian and U.S state Securities laws. The transaction included participation from Chicago Atlantic Opportunity Finance, LLC. Announcement • Jun 10
Vireo Growth Inc. (CNSX:VREO) completed the acquisition of Deep Roots Harvest, Inc. for $64.14 million. Vireo Growth Inc. (CNSX:VREO) has signed definitive agreement to acquire Deep Roots Harvest, Inc. on December 18, 2024. Total consideration is approximately $397 million of all-stock transactions. In Related transactions Vireo has signed definitive agreements to acquire Proper Brands in Missouri and WholesomeCo Cannabis in Utah, while also signing a binding MOU to acquire The Flowery in Florida. Vireo estimates proforma revenue and EBITDA of the combined company of approximately $394 million and $94 million, respectively, for calendar year 2024. Upon closing of the Merger Transactions, Vireo estimates the combined company will be well-positioned for further growth with a favorable balance sheet consisting of approximately $99 million of cash and $78 million of net debt with an EBITDA leverage ratio of approximately 0.8x. The Proper Brands, Deep Roots Harvest and WholesomeCo Cannabis are expected to be acquired at a multiple of 4.175x 2024 “Reference EBITDA” pro-forma for pending acquisitions as well as planned new retail openings and expansion projects. Each transaction has been based on a $0.52 Vireo share reference price. The Deep Roots Merger Agreement also contains customary indemnification obligations of Vireo and Deep Roots, other obligations of the parties and termination provisions, under which, subject to certain conditions and in certain instances of termination, would require Vireo or Deep Roots to pay a termination fee equal to $6.37624 million.
These acquisition targets may qualify for earnout payments on December 31, 2026, based on 4x EBITDA growth compared to Reference EBITDA, adjusted for incremental debt, and paid out using a share price at the higher of $1.05 or 20-day VWAP as of December 31, 2026. Reference EBITDA for Proper Brands, Deep Roots Harvest and WholesomeCo Cannabis are $31.0 million, $31.0 million, and $16.0 million, respectively. John Mazarakis, co-founder at Chicago Atlantic, has been appointed to the role of Chief Executive Officer and Co-Executive Chairman, effective immediately. Tyson Macdonald, former partner at TrueRise Capital, has been appointed to the role of Chief Financial Officer, effective immediately. Amber Shimpa will continue to serve as President of the Company and as Chief Executive Officer of Minnesota, Maryland, and New York. Implementation of the Merger Transactions are subject to the approval of holders of a majority of Vireo's voting shares and regulatory approvals. The Merger Transactions have been unanimously approved by the Boards of Directors of Vireo and each of the target acquisition companies. Vireo anticipates that closing of all of the Merger Transactions to take at least six months pending shareholder and regulatory approvals. Vireo expects that each transaction will be accretive to the broader portfolio. Moelis & Company LLC acted as fairness opinion provider for Boards of Directors of Vireo Growth Inc. Moelis & Company LLC acted as financial advisor for Vireo Growth Inc. Dorsey & Whitney LLP acted as legal advisor for Vireo Growth Inc.
Vireo Growth Inc. (CNSX:VREO) completed the acquisition of Deep Roots Harvest, Inc. for $64.14 million on June 9, 2025. Total consideration for the transaction is paid in the form of 255.2 million Subordinate Voting Shares of Vireo at a reference price per share of $0.52. The purchase price of the Deep Roots transaction represents a multiple of 4.175x 2024 “Closing EBITDA” of $30 million. Announcement • Jun 06
Vireo Growth Inc. (CNSX:VREO) completed the acquisition of Proper Brands for $73.3 million. Vireo Growth Inc. (CNSX:VREO) entered into a definitive agreement to acquire Proper Brands on December 18, 2024. Under the terms of the transaction, the transaction is expected to be effected by way of an all-stock transaction, and The Proper Brands, Deep Roots Harvest and WholesomeCo Cannabis are expected to be acquired at a multiple of 4.175x 2024 “Reference EBITDA” pro-forma for pending acquisitions as well as planned new retail openings and expansion projects. Each transaction has been based on a $0.52 Vireo share reference price. Reference EBITDA for Proper Brands is $31.0 million. Vireo will include in the stock merger consideration calculation an amount equal to $2,139,200 for the stockholders of Proper Brands for all of the outstanding equity interests in Arches IP, Inc. owned by Proper Brands with a potential for earnout payments based on performance through December 31, 2026, based on the greater of $37.5 million or 5x revenue measured at the higher of trailing-twelve-month or nine-month annualized net revenues, paid out using a share price at the higher of $1.05 or 20-day VWAP as of December 31, 2026. The seller of Proper Brand has agreed to voluntary share lock-up after 33 months of consummation. In separate transactions, Vireo will also acquire Deep Roots Harvest, WholesomeCo Cannabis, and The Flowery. The transaction is subject to approval by regulatory board, approval of merger agreement by target board, approval of offer by acquirer board, subject to shareholder approval and lock-up agreement, and a clawback provision if they perform below the respective Reference EBITDA measured as the higher of trailing twelve-months or nine-months annualized EBITDA as of December 31, 2026, adjusted for any intercompany funding. The Merger Transactions have been unanimously approved by the Boards of Directors of Vireo and Proper Brands. In certain instances of termination, Vireo or Proper Brands is required to pay a termination fee equal to $4,631,012.
Moelis & Company LLC acted as financial advisor and Fairness Opinion Provider, and Nicole Stanton of Dorsey & Whitney LLP acted as legal advisor to Vireo. Lineage Merchant Partners, LLC acted as placement agent for the financing.
Vireo Growth Inc. (CNSX:VREO) completed the acquisition of Proper Brands for $73.3 million on June 5, 2025. Total consideration for the transactions was $102 million, paid in the form of 196.2 million Subordinate Voting Shares of Vireo at a reference price per share of $0.52. Announcement • May 13
Vireo Growth Inc. (CNSX:VREO) completed the acquisition of WholesomeCo Cannabis. Vireo Growth Inc. (CNSX:VREO) signed an agreement to acquire WholesomeCo Cannabis on December 18, 2024. Vireo has signed three definitive documents and one binding Memorandum of Understanding to acquire four single-state operators (Proper Brands, Deep Roots Harvest, and Bill’s Nursery, Inc, WholesomeCo Cannabis) for total consideration of approximately $397 million in a series of all-stock transactions and may qualify for earnout payments on December 31, 2026. Vireo will include in the stock merger consideration calculation an amount equal to $11,860,800 for the stockholders of WholesomeCo Cannabis for all of the outstanding equity interests in Arches IP, Inc. owned by WholesomeCo Cannabis with a potential for earnout payments based on performance through December 31, 2026, based on the greater of $37.5 million or 5x revenue measured at the higher of trailing-twelve-month or nine-month annualized net revenues, paid out using a share price at the higher of $1.05 or 20-day VWAP as of December 31, 2026. The transaction is subject to certain shareholder and regulatory approvals, and clawback provision. In certain instances of termination, Vireo or WholesomeCo Cannabis is required to pay a termination fee equal to $3,394,217. The Merger Transactions have been unanimously approved by the Boards of Directors of Vireo and WholesomeCo Cannabis. As of March 9, 2025, Vireo Growth Inc. has obtained required regulatory approvals and is working toward satisfying all other customary closing conditions, which it expects to meet during the second quarter of 2025.
Moelis & Company LLC acted as financial advisor and fairness opinion provider, and Nicole Stanton of Dorsey & Whitney LLP acted as legal advisor to Vireo. Lineage Merchant Partners, LLC acted as placement agent for the financing. Adam Hull of Polsinelli PC acted as legal advisor to WholesomeCo.
Vireo Growth Inc. (CNSX:VREO) completed the acquisition of WholesomeCo Cannabis for $69.8 million on May 12, 2025. $69.8 million paid in the form of 134.2 million Subordinate Voting Shares of Vireo at a reference price per share of $0.52. Announcement • Apr 29
Vireo Growth Inc. to Report Q1, 2025 Results on May 09, 2025 Vireo Growth Inc. announced that they will report Q1, 2025 results Pre-Market on May 09, 2025 Announcement • Apr 09
Vireo Growth Inc., Annual General Meeting, Jun 20, 2025 Vireo Growth Inc., Annual General Meeting, Jun 20, 2025. Announcement • Feb 20
Vireo Growth Inc. to Report Q4, 2024 Results on Mar 04, 2025 Vireo Growth Inc. announced that they will report Q4, 2024 results Pre-Market on Mar 04, 2025 Announcement • Jan 01
Vireo Growth Inc. announced that it has received $80.960546 million in funding On December 30, 2024, Vireo Growth Inc., closed the transaction. The company issued 129,536,874 subordinate voting shares at a price of $0.625 per share for the gross proceeds of $80,960,546.25 in the transaction. The transaction has been oversubscribed. Reported Earnings • Nov 16
Third quarter 2024 earnings released: US$0.024 loss per share (vs US$0.037 loss in 3Q 2023) Third quarter 2024 results: US$0.024 loss per share (improved from US$0.037 loss in 3Q 2023). Revenue: US$25.2m (up 2.0% from 3Q 2023). Net loss: US$4.93m (loss narrowed 5.8% from 3Q 2023). Revenue is forecast to grow 3.4% p.a. on average during the next 2 years, compared to a 3.4% growth forecast for the Pharmaceuticals industry in Germany. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 32% per year, which means it is significantly lagging earnings. Announcement • Nov 05
Vireo Growth Inc. announced that it expects to receive $10 million in funding Vireo Growth Inc. announced that it has secured a new convertible debt facility which provides a financing commitment of up to $10,000,000 in aggregate principal amount of convertible notes on November 4, 2024. This facility is being funded by the Company’s senior secured lender and its affiliates under the Company’s existing credit agreement. The convertible facility has a term of three years, with a cash interest rate of 12.0 percent, and such interest shall be paid to Lender in cash on the last business day of each calendar month. The Convertible Notes shall be convertible at any time into Subordinate Voting Shares of the Company, at the option of Lender, in whole but not in part, in a single transaction, at a conversion price equal to $0.625. Announcement • Oct 30
Vireo Growth Inc. to Report Q3, 2024 Results on Nov 13, 2024 Vireo Growth Inc. announced that they will report Q3, 2024 results After-Market on Nov 13, 2024 New Risk • Oct 13
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €73.5m (US$80.3m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Negative equity (-US$23m). Shareholders have been substantially diluted in the past year (61% increase in shares outstanding). Minor Risk Market cap is less than US$100m (€73.5m market cap, or US$80.3m). Announcement • Oct 10
Vireo Growth Inc. Announces Resignation of Josh Rosen as Director Vireo Growth Inc. announced several leadership updates. Josh Rosen has resigned from the Company's Board of Directors, effective immediately, to focus on his other business ventures. Mr. Rosen was first elected to the Board in August 2021, and appointed to executive leadership roles in November 2022, including, most recently, the roles of Chief Executive Officer and interim Chief Financial Officer. The Company has engaged Mr. Rosen going forward with a consulting agreement. Board Change • Sep 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. CEO, Interim CFO & Director Josh Rosen was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Aug 20
Vireo Growth Inc. announced that it has received $5.3875 million in funding On August 20, 2024, Vireo Growth Inc. closed the transaction. The transaction included participation from 14 investors. Reported Earnings • Aug 07
Second quarter 2024 earnings released: US$0.005 loss per share (vs US$0.057 loss in 2Q 2023) Second quarter 2024 results: US$0.005 loss per share (improved from US$0.057 loss in 2Q 2023). Revenue: US$25.1m (up 24% from 2Q 2023). Net loss: US$668.4k (loss narrowed 91% from 2Q 2023). Revenue is expected to decline by 1.4% p.a. on average during the next 2 years, while revenues in the Pharmaceuticals industry in Germany are expected to grow by 3.7%. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 36% per year, which means it is significantly lagging earnings. Announcement • Jul 23
Vireo Growth Inc. to Report Q2, 2024 Results on Aug 06, 2024 Vireo Growth Inc. announced that they will report Q2, 2024 results After-Market on Aug 06, 2024 Announcement • May 31
Goodness Growth Holdings, Inc. announced that it expects to receive $0.7 million in funding Goodness Growth Holdings, Inc. announced a non-brokered private placement of its subordinate voting shares for the gross proceeds of $700,000 on May 30, 2024. The company expects that this transaction will be completed within the next five business days. All of the subordinate voting shares issued in connection with this private placement will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. Reported Earnings • May 08
First quarter 2024 earnings released: US$0.047 loss per share (vs US$0.066 loss in 1Q 2023) First quarter 2024 results: US$0.047 loss per share (improved from US$0.066 loss in 1Q 2023). Revenue: US$24.1m (up 26% from 1Q 2023). Net loss: US$6.71m (loss narrowed 20% from 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 35% per year, which means it is performing significantly worse than earnings. Announcement • May 01
Goodness Growth Holdings, Inc. to Report Q1, 2024 Results on May 07, 2024 Goodness Growth Holdings, Inc. announced that they will report Q1, 2024 results After-Market on May 07, 2024 Announcement • Apr 13
Goodness Growth Holdings, Inc., Annual General Meeting, Jun 21, 2024 Goodness Growth Holdings, Inc., Annual General Meeting, Jun 21, 2024. Announcement • Apr 03
Goodness Growth Holdings, Inc. Reports Impairment Charges for the Fourth Quarter Ended December 31, 2023 Goodness Growth Holdings, Inc. reported impairment charges for the fourth quarter ended December 31, 2023. For the period, the company reported loss on impairment of long-lived assets of USD 411,629 compared to USD 1,119,583 last year same period. Reported Earnings • Apr 02
Full year 2023 earnings released: US$0.19 loss per share (vs US$0.33 loss in FY 2022) Full year 2023 results: US$0.19 loss per share (improved from US$0.33 loss in FY 2022). Revenue: US$88.1m (up 18% from FY 2022). Net loss: US$25.5m (loss narrowed 40% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 45% per year, which means it is performing significantly worse than earnings. Announcement • Mar 15
Goodness Growth Holdings, Inc. to Report Q4, 2023 Results on Mar 28, 2024 Goodness Growth Holdings, Inc. announced that they will report Q4, 2023 results at 4:00 PM, US Eastern Standard Time on Mar 28, 2024 Announcement • Dec 15
Goodness Growth Holdings, Inc. Announces Departure of Michael Schroeder as General Counsel & Chief Compliance Officer Effective December 15, 2023 Goodness Growth Holdings, Inc. announced that the Company’s General Counsel and Chief Compliance Officer, Michael Schroeder, will depart the Company effective December 15, 2023 to accept an external opportunity at Venture Medical, LLC, a national medical devices and wound care products distributor located in Missoula, Montana. The Company plans to retain external legal counsel on an interim basis to fulfill Mr. Schroeder’s former duties as General Counsel until a permanent successor can be identified, and will continue conducting its compliance procedures through a mix of existing internal and external resources. Reported Earnings • Nov 16
Third quarter 2023 earnings released: US$0.037 loss per share (vs US$0.066 loss in 3Q 2022) Third quarter 2023 results: US$0.037 loss per share (improved from US$0.066 loss in 3Q 2022). Revenue: US$24.7m (up 31% from 3Q 2022). Net loss: US$5.23m (loss narrowed 38% from 3Q 2022). Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 3.6% growth forecast for the Pharmaceuticals industry in Germany. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 45% per year, which means it is performing significantly worse than earnings. Announcement • Nov 03
Goodness Growth Holdings, Inc. to Report Q3, 2023 Results on Nov 14, 2023 Goodness Growth Holdings, Inc. announced that they will report Q3, 2023 results After-Market on Nov 14, 2023 Announcement • Sep 28
Goodness Growth Holdings, Inc. Announces CFO Changes Goodness Growth Holdings, Inc. announced that Chief Financial Officer, John Heller, will depart the Company effective September 30 to accept a new external opportunity. Interim Chief Executive Officer Josh Rosen will assume the additional role of Interim Chief Financial Officer. New Risk • Aug 17
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$15m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$15m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Negative equity (-US$7.9m). Earnings have declined by 17% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (12% increase in shares outstanding). Market cap is less than US$100m (€16.5m market cap, or US$18.0m). Reported Earnings • Aug 15
Second quarter 2023 earnings released: US$0.084 loss per share (vs US$0.048 loss in 2Q 2022) Second quarter 2023 results: US$0.084 loss per share (further deteriorated from US$0.048 loss in 2Q 2022). Revenue: US$20.2m (down 4.2% from 2Q 2022). Net loss: US$7.33m (loss widened 19% from 2Q 2022). Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 3.1% growth forecast for the Pharmaceuticals industry in Germany. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 39% per year, which means it is significantly lagging earnings. Announcement • Aug 01
Goodness Growth Holdings, Inc. to Report Q2, 2023 Results on Aug 14, 2023 Goodness Growth Holdings, Inc. announced that they will report Q2, 2023 results After-Market on Aug 14, 2023 New Risk • Jul 23
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 11% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (24% average weekly change). Negative equity (-US$2.1m). Earnings have declined by 19% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (11% increase in shares outstanding). Market cap is less than US$100m (€18.9m market cap, or US$21.1m). Reported Earnings • May 17
First quarter 2023 earnings released: US$0.066 loss per share (vs US$0.11 loss in 1Q 2022) First quarter 2023 results: US$0.066 loss per share (improved from US$0.11 loss in 1Q 2022). Revenue: US$19.1m (up 22% from 1Q 2022). Net loss: US$8.41m (loss narrowed 42% from 1Q 2022). Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 3.7% growth forecast for the Pharmaceuticals industry in Germany. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. Announcement • May 10
Goodness Growth Holdings, Inc. to Report Q1, 2023 Results on May 15, 2023 Goodness Growth Holdings, Inc. announced that they will report Q1, 2023 results at 4:00 PM, US Eastern Standard Time on May 15, 2023 Reported Earnings • Aug 13
Second quarter 2022 earnings released: US$0.048 loss per share (vs US$0.044 loss in 2Q 2021) Second quarter 2022 results: US$0.048 loss per share (down from US$0.044 loss in 2Q 2021). Revenue: US$21.1m (up 48% from 2Q 2021). Net loss: US$6.18m (loss widened 13% from 2Q 2021). Over the next year, revenue is forecast to grow 96%, compared to a 6.3% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Reported Earnings • May 13
First quarter 2022 earnings released: US$0.11 loss per share (vs US$0.06 loss in 1Q 2021) First quarter 2022 results: US$0.11 loss per share (down from US$0.06 loss in 1Q 2021). Revenue: US$15.6m (up 19% from 1Q 2021). Net loss: US$14.6m (loss widened 109% from 1Q 2021). Over the next year, revenue is forecast to grow 91%, compared to a 6.4% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 13
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: US$0.27 loss per share (down from US$0.23 loss in FY 2020). Revenue: US$54.4m (up 11% from FY 2020). Net loss: US$33.7m (loss widened 47% from FY 2020). Revenue missed analyst estimates by 5.9%. Over the next year, revenue is forecast to grow 88%, compared to a 8.1% growth forecast for the pharmaceuticals industry in Germany. Reported Earnings • Nov 11
Third quarter 2021 earnings released: US$0.078 loss per share (vs US$0.004 loss in 3Q 2020) The company reported a soft third quarter result with increased losses and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: US$13.4m (up 12% from 3Q 2020). Net loss: US$6.24m (loss widened US$5.90m from 3Q 2020). Reported Earnings • Aug 18
Second quarter 2021 earnings released: US$0.044 loss per share (vs US$0.16 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: US$14.2m (up 17% from 2Q 2020). Net loss: US$5.48m (loss narrowed 66% from 2Q 2020). Reported Earnings • May 15
First quarter 2021 earnings released: US$0.062 loss per share (vs US$0.076 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: US$13.2m (up 8.8% from 1Q 2020). Net loss: US$6.99m (loss narrowed 7.0% from 1Q 2020). Recent Insider Transactions • Apr 21
Insider recently sold €3.1m worth of stock On the 15th of April, Bruce Linton sold around 2m shares on-market at roughly €1.70 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €5.3m more than they bought in the last 12 months. Announcement • Mar 17
Vireo Health International, Inc. to Report Q4, 2020 Results on Mar 25, 2021 Vireo Health International, Inc. announced that they will report Q4, 2020 results Pre-Market on Mar 25, 2021 Is New 90 Day High Low • Feb 04
New 90-day high: €3.08 The company is up 205% from its price of €1.01 on 06 November 2020. The German market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Pharmaceuticals industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €0.13 per share. Announcement • Jan 20
Vireo Health International Inc. Appoints Victor E. Mancebo to its Board of Directors Vireo Health International Inc. announced the appointment of Victor E. Mancebo to its Board of Directors. As Director, Mr. Mancebo will serve as an advisor to Chairman & Chief Executive Officer Dr. Kyle Kingsley as well as the Company's executive leadership team. Mr. Mancebo previously served as the President and Chief Executive Officer of Liberty Health Sciences, Inc. He has nearly 20 years of experience in a variety of operational, retail, and
agricultural leadership roles. Is New 90 Day High Low • Jan 13
New 90-day high: €2.02 The company is up 127% from its price of €0.89 on 15 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Pharmaceuticals industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €0.19 per share. Announcement • Jan 09
Vireo Health International, Inc. Launches Amplifi™, the First Terpene-Enhanced Brand of Dry Cannabis Flower Vireo Health International Inc. announced that the Company has launched a new line of naturally-augmented cannabis flower called Amplifi™. The product line will feature dry cannabis flower strains sold in 3.5-gram TerpSafeTM jars. Amplifi is the first brand that utilizes Vireo's new TerpSafe packaging technology, a proprietary patent-pending system that not only preserves the existing terpene profile but can naturally augment the terpene content of cannabis flower over time. Amplifi products launched in Vireo's popular Ultimate Purple strain and are currently available at licensed dispensaries in Maryland. The brand's second strain, Gorilla Girl, will be available later this month. In addition to the launch in Maryland, the Company expects Amplifi products to be available in Arizona at the Vireo dispensary located in Phoenix and at third-party dispensaries statewide starting in February. Recently featured in a peer-reviewed research paper published in the Journal of Cannabis Research, Vireo's new TerpSafe technology is a novel approach shown to preserve cannabis flower by inhibiting the gradual loss of terpenes. The technology works effectively towards terpene preservation for a variety of different cannabis flowers, grown and stored under various conditions. Multiple lab tests and real-world analyses have shown that cannabis flower stored in traditional packaging lost nearly half of its native terpenes over a four-week period. When the same flower was stored in Vireo's TerpSafe packaging system, the terpene content increased over the same four-week period. Researchers were also able to successfully adjust the terpene profile of cannabis stored using the TerpSafe technology. This will provide patients and manufacturers the ability to customize the terpene profile of their cannabis as a result. The new packaging will enable cultivators and manufacturers to protect and enhance the naturally occurring terpenes in cannabis flower. This helps ensure the terpene levels in cannabis products are preserved throughout the distribution chain – from greenhouse to the customer home – so that consumers can enjoy a robust and consistent flavor profile. Last year, Vireo signed a limited exclusive licensing agreement with eBottles420, the largest supplier of cannabis packaging in North America, to manufacture and distribute TerpSafe packaging. Announcement • Jan 08
Vireo Health International, Inc. (CNSX:VREO) completed the acquisition of medical and adult-use cannabis cultivation and processing businesses in Nevada. Vireo Health International, Inc. (CNSX:VREO) agreed to acquire a medical and adult-use cannabis cultivation and processing businesses in Nevada on November 5, 2020. The transaction is expected to close by December 31, 2020.
Vireo Health International, Inc. (CNSX:VREO) completed the acquisition of medical and adult-use cannabis cultivation and processing businesses in Nevada on December 7, 2021. The acquisition consists of four medical cannabis licenses in Nevada. Is New 90 Day High Low • Dec 29
New 90-day high: €1.09 The company is up 28% from its price of €0.85 on 30 September 2020. The German market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Pharmaceuticals industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €0.17 per share. Recent Insider Transactions • Dec 19
Insider recently sold €455k worth of stock On the 17th of December, Bruce Linton sold around 468k shares on-market at roughly €0.97 per share. In the last 3 months, they made an even bigger sale worth €609k. Insiders have been net sellers, collectively disposing of €2.3m more than they bought in the last 12 months. Is New 90 Day High Low • Dec 11
New 90-day high: €1.07 The company is up 62% from its price of €0.66 on 11 September 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Pharmaceuticals industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €0.17 per share. Recent Insider Transactions • Dec 09
Insider recently sold €609k worth of stock On the 4th of December, Bruce Linton sold around 623k shares on-market at roughly €0.98 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €1.8m more than they bought in the last 12 months. Analyst Estimate Surprise Post Earnings • Dec 03
Revenue beats expectations Revenue exceeded analyst estimates by 0.08%. Over the next year, revenue is forecast to grow 69%, compared to a 2.6% growth forecast for the Pharmaceuticals industry in Germany. Announcement • Nov 26
Vireo Health International, Inc. Announces Executive Promotions Vireo Health International, Inc. announced the promotions of Christian Gonzalez to the role of Chief Operating Officer and Patrick Peters to the role of Executive Vice President of Retail. As Chief Operating Officer, Mr. Gonzalez will lead the Company's nationwide manufacturing, retail, and product development teams. Christian joined Vireo in 2018 as General Manager in Pennsylvania and since then has overseen major capacity expansion projects and helped optimized manufacturing efficiencies at Vireo's cultivation and processing facilities in Minnesota, New York, Maryland, Arizona, and New Mexico. He is an engineer and entrepreneur with over 15 years of manufacturing experience in the medical device, pharmaceutical and aerospace/defense industries. As Executive Vice President of Retail, Mr. Peters' responsibilities include the complete oversight of Vireo's retail, ecommerce, and wholesale sales channels. Mr. Peters joined Vireo in 2019 to lead the Company's retail growth initiatives which focused on the expansion of Green GoodsTM retail store openings and re- brandings nationwide. He has over 20 years of retail marketing experience as an executive leader at brands such as Calvin Klein, Kate Spade, and Juicy Couture. Announcement • Nov 18
Jushi Holdings Inc. (OTCPK:JUSH.F) acquired Pennsylvania Dispensary Solutions, LLC from Vireo Health International, Inc. (CNSX:VREO) for $5 million. Jushi Holdings Inc. (OTCPK:JUSH.F) acquired Pennsylvania Dispensary Solutions, LLC from Vireo Health International, Inc. (CNSX:VREO) for $5 million on November 16, 2020. The consideration is paid in cash.
Jushi Holdings Inc. (OTCPK:JUSH.F) completed the acquisition of Pennsylvania Dispensary Solutions, LLC from Vireo Health International, Inc. (CNSX:VREO) on November 16, 2020. Announcement • Nov 12
Vireo Health International, Inc. to Report Q3, 2020 Results on Nov 25, 2020 Vireo Health International, Inc. announced that they will report Q3, 2020 results at 9:00 AM, Eastern Standard Time on Nov 25, 2020 Recent Insider Transactions • Nov 11
Insider recently sold €219k worth of stock On the 5th of November, Bruce Linton sold around 247k shares on-market at roughly €0.89 per share. In the last 3 months, they made an even bigger sale worth €432k. Insiders have been net sellers, collectively disposing of €1.2m more than they bought in the last 12 months. Is New 90 Day High Low • Nov 07
New 90-day high: €1.01 The company is up 110% from its price of €0.48 on 07 August 2020. The German market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Pharmaceuticals industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Announcement • Nov 06
Vireo Health International, Inc. (CNSX:VREO) agreed to acquire a medical and adult-use cannabis cultivation and processing businesses in Nevada. Vireo Health International, Inc. (CNSX:VREO) agreed to acquire a medical and adult-use cannabis cultivation and processing businesses in Nevada on November 5, 2020. The transaction is expected to close by December 31, 2020. Recent Insider Transactions • Oct 21
Insider recently sold €223k worth of stock On the 16th of October, Bruce Linton sold around 248k shares on-market at roughly €0.90 per share. In the last 3 months, they made an even bigger sale worth €432k. Insiders have been net sellers, collectively disposing of €989k more than they bought in the last 12 months. Announcement • Oct 16
Vireo Health Launches Midnight Cannabis Brand ireo Health International, Inc. announced the launch of a new cannabis-based brand, called Midnight. The Midnight brand launched at Vireo's four medical dispensaries in New York and is also available via wholesale channels to other licensed dispensaries in New York. Midnight products are ideally formulated with a balanced blend of multiple cannabinoids including THC, CBD, and CBN. Later this year, Midnight will also be made available as a vaporizer product and the Company expects to expand the Midnight brand with additional product formats and new formulations in 2021. The product line is also expected to be made available in several of Vireo's other markets later in 2021. All of these events are subject to regulatory approval. Is New 90 Day High Low • Oct 14
New 90-day high: €0.92 The company is up 72% from its price of €0.54 on 16 July 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Pharmaceuticals industry, which is down 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. 
