ACE Venture Set to Acquire Vireo Health of NY

Goodness Growth Holdings (TSE:GDNS) has released an update.

ACE Venture Enterprises, Inc., a minority-owned business, is set to acquire Vireo Health of New York from Goodness Growth Holdings, aiming to bolster its position in the New York cannabis market. The deal, which includes a purchase price of $3 to $5 million, Ace’s $20 million investment in development, and the assumption of existing financial liabilities, is supported by a collaborative advisory agreement ensuring Goodness Growth retains management influence. Completion of the transaction is anticipated by June 30, 2024, after regulatory approval.

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