Vireo Growth, Ace Ventures Partner on NY Medical Cannabis Operation

MINNEAPOLIS — Vireo Growth Inc. and Ace Ventures of NY LLC partnered to establish what is expected to become New York’s first scaled social equity operator emerging from the state’s first minority-owned vertically integrated medical cannabis license.

Under the agreement, Ace will assume a 51-percent ownership interest in Vireo Health of New York LLC, establishing a majority social equity-owned platform supported by Vireo’s infrastructure.

Vireo NY operates cultivation, manufacturing, and retail infrastructure. Vireo Growth will continue to provide operational support to ensure regulatory compliance and other operational features as the majority social equity-owned platform expands.

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