MINNEAPOLIS – Vireo Health International Inc., (“Vireo” or the “Company”) (CNSX: VREO, OTCQX: VREOF), a leading physician-founded, science-focused multi-state cannabis company, today announced that the Company signed an exclusive licensing agreement with eBottles420 to manufacture and distribute Vireo’s patent-pending, terpene-preserving packaging system.
The proprietary packaging system preserves cannabis flower by inhibiting the gradual loss of terpenes and other desirable compounds that naturally occur after harvest. Multiple lab tests and real-world analyses showed that cannabis flower stored in traditional packaging lost nearly half of its native terpenes over a four-week period. When the same flower was stored in Vireo’s new packaging system, the terpene content increased over the same four-week time period.
Vireo recently established a subsidiary called Resurgent Biosciences to house Vireo’s portfolio of intellectual property and related initiatives in a non-plant-touching entity which may broaden potential partnership opportunities or other strategic outcomes. Technologies like this terpene-preserving packaging system have a variety of potential applications in many industries beyond cannabis, including food & beverage and health & beauty products.
“Terpenes are key compounds in cannabis that provide not only the flavor and aromatic profile, but more importantly are believed to have substantial pharmacological benefits,” said Chief Executive Officer of Vireo Health, Kyle Kingsley, M.D. “Vireo’s new packaging system will help enhance the customer experience by preserving the natural terpene content of the plant. Simply put, it will keep flower fresher longer.”
The new packaging will enable cultivators and manufacturers to protect the naturally occurring terpenes in cannabis flower. This helps ensure the terpene levels in cannabis products are preserved throughout the distribution chain – from greenhouse to the customer home – so that consumers can enjoy a robust and consistent flavor profile.
“We are thrilled to be the exclusive manufacturing and distribution partner for Vireo’s new terpene-preserving packaging system,” said Robert Lerman, CEO and Founder of eBottles420. “As the largest supplier of cannabis packaging in North America, we expect significant demand for this new and exciting product.”
About Vireo Health International, Inc.
Vireo Health International, Inc. is a physician-led cannabis company focused on building long-term, sustainable value by bringing the best of medicine, science, and engineering to the cannabis industry. With operations strategically located in early-stage, limited-license medical markets, Vireo manufactures pharmaceutical-grade cannabis products in environmentally-friendly greenhouses and distributes its products through its growing network of Green Goods retail dispensaries and hundreds of third-party locations. Its current medical markets of New York, Minnesota, Pennsylvania, Arizona, New Mexico, Maryland, Ohio and Rhode Island all have the potential to enact adult-use legalization in the next three to 24 months, and two additional markets in Puerto Rico and Massachusetts also have potential for commercialization. Combined with its teams’ focus on driving scientific innovation within the industry and securing meaningful intellectual property rights, Vireo believes it is well positioned to become a global market leader in the cannabis industry. In aggregate, Vireo’s total license portfolio spans nine states and Puerto Rico, with a total addressable population of nearly 80 million. Today, seven of its ten markets are operational, with 13 of its 32 total retail dispensary licenses open for business. For more information about the company, please visit www.vireohealth.com
