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On Monday,
Trulieve Cannabis Corp. (CSE:TRUL) (OTCQX:TCNNF) announced it s purchasing
Harvest Health & Recreation Inc. (CSE:HARV) (OTCQX:HRVSF) for roughly $2.1 billion in stock. Harvest shareholders will own roughly 26.7% of Trulieve s issued and outstanding pro forma shares on a fully diluted basis.
Commenting on the deal, Debra Borchardt, CEO of Green Market Report, told Benzinga, “The acquisition is likely to come with its fair share of headaches. Harvest Health has a mountain of debt and lots of lawsuits over various deals. Still Trulieve is certainly on a quest to become a nationwide company and this will certainly help pave the way.”
MedMen Enterprises Inc. (OTC: MMNFF)Vireo Health International, Inc.
As a cannabis company led by physicians with a science-focused multi-state operation, Vireo Health International, Inc. is bringing state-of-the-art technology and science to the market. Currently, Vireo manufactures branded cannabis products and has established distribution with a growing network of retail locations and 3rd party dispensaries. The company operates 16 dispensaries nationwide across 5 states. And holds additional licenses for expansions into other markets in the future.
In its latest earnings report, Vireo announced fourth-quarter and full-year 2020 results with full-year GAAP revenue of $49.2 million up 64% compared to 2019. The company saw gross profit increase by $9.8 million to $17.1 million. Currently, Vireo is executing its core market strategy which focuses on Arizona, Maryland, Minnesota, New Mexico, and New York. The company is expected to release first-quarter 2021 financial results on
Wasatch Global Took Profits in Vireo Health (VREOF) at the Higher Valuation
Wasatch Global Investors, an investment management firm, published its “Wasatch Micro Cap Value Fund” first quarter 2021 investor letter – a copy of which can be downloaded here. A return of 14.74% was recorded by the fund’s investor class for the Q1 of 2021, trailing the benchmark, Russell Microcap® Index, which leapt 23.89% for the same period. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.
Wasatch Micro Cap Value Fund, in its Q1 2021 investor letter, mentioned Vireo Health International, Inc. (NYSE: VREOF), and shared their insights on the company. Vireo Health International, Inc. is a Minneapolis, Minnesota-based pharmaceutical company that currently has a $287.4 million market capitalization. Since the beginning of the year, VREOF delivered a 54.56% return, extending its 12-month gains to 366.67%. As of May 07, 2021, the stock closed at $2.27 per share.
Jushi Holdings Inc. (CSE: JUSH) (OTCQB: JUSHF) is poised to buy another subsidiary of Vireo Health International, Inc.’s (CSE: VREO) (OTCQX: VREOF).
Minneapolis-based Vireo opted to sell its equity in Pennsylvania Dispensary Solutions LLC to Jushi for $5 million in cash.. Read More. Don t Miss Any Updates! News Directly in Your Inbox Subscribe to: