Cannabis multistate operator Goodness Growth Holdings is selling its subsidiary Vireo Health of New York (VireoNY) to Ace Venture Enterprises for $3 million-$5 million as the company works to amend a credit agreement with its secured lender.
Minneapolis-based Goodness Growth – which changed its name from Vireo Health in 2021 – announced the acquisition in a late Monday news release with its fourth-quarter results.
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In a second release issued Monday night, Goodness Growth described Ace Venture Enterprises as a “corporate partner” of “Ace Ventures, LLC, a minority-owned business in the state of New York” founded by TV and film producer Steven Acevedo.
Under the deal, Ace Venture Enterprises will:
Purchase VireoNY’s licenses, inventory and assets. Take over VireoNY’s lease agreement with
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