Vireo Health International has acquired Massachusetts licensed cannabis company Mayflower Botanicals in a combination cash and stock deal. It’s the company’s third acquisition since it began trading on the Canadian Securities Exchange.
Vireo now operates in nine states throughout the U.S. They also acquired 73 acres of land zoned for medical cannabis production, processing, and distribution. The move into Massachusetts marks their first move into a state with a recreational cannabis program.
CEO Kyle Kingsley, a board-certified emergency room physician, said it is “time to recognize that a public health policy focused on adults replacing their consumption of alcoholic beverages and tobacco products with cannabis has the potential to save thousands of lives each year.”
“As we expand into adult-use states such as Massachusetts, our physician-led team will provide consumers with medically- and scientifically-based products and advice designed to highlight the potential health benefits of replacing alcohol and tobacco with cannabis.” – Kingsley in a press release
According to a LoHud.com report, Vireo has spent millions of dollars lobbying in New York for recreational cannabis legalization; which was dropped from the state budget last month. Vireo COO Ari Hoffnung told LoHud the company would “continue working with the Legislature” to end cannabis prohibition in the state.
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