skip to Main Content
N.Y. medical marijuana maker expands into Massachusetts recreational market

Vireo Health, a maker of medical marijuana in New York, is expanding into the recreational marijuana market with the $10 million acquisition this week of a Massachusetts firm.

The company bought Mayflower Botanicals Inc., a registered marijuana dispensary certificate holder in Massachusetts. As part of the transaction, Vireo acquired 73 acres of land in rural New Bedford, Massachusetts, that’s been zoned for the production, processing and distribution of medical cannabis, with an expedited path toward adult-use licensure.

Founded and run by physicians, Vireo officials described the company’s transition from the medical to recreational marijuana market as “inevitable.”

“Our science drives us,” said Dr. Kyle Kingsley, founder and CEO of Vireo. “We know that cannabis has a role on the medical side of things, but we also believe it has a role to play in health and wellness and recreation.”

Specifically, Kingsley said, it’s a far safer recreational alternative to both alcohol and tobacco, which kill a respective 88,000 and 480,000 Americans a year, according to the Centers for Disease Control and Prevention. [Read more at Albany Times-Union]

This Post Has 0 Comments

Leave a Reply

Your email address will not be published.

Recent Stories

Canopy shares plunge as pot producer posts another loss

Canopy Growth Corp (WEED.TO), posted another core loss on Thursday, denting investor hopes that the cannabis producer would turn profitable anytime soon, sending its U.S.-listed shares down 10%. The company’s quarterly gross margin was impacted by a decline in production, lower prices in the Canadian recreational business, a shift in business mix and fall in…

Is marijuana legal in Delaware? What you need to know about the state’s efforts

This year, Delaware advocates and lawmakers came the closest they ever have to legalizing recreational marijuana in the state. But Gov. John Carney’s refusal to support recreational marijuana ultimately crushed the dream of legalization, landing the bill amongst the countless other failed attempts over the past several years. Here’s what happened. This year’s first effort…

Connecticut Legislates Equity, But Not a Share of the Profits for Marijuana

In an effort to open the newly legal marijuana market to those most harmed during the years it was criminalized, Connecticut lawmakers set strict standards for who may own the emerging businesses. But they didn’t legislate anything about profits. Last month the state’s Social Equity Council approved the applications of 16 marijuana growers and disqualified…

Marijuana seizures down as cartels turn to alternate cash ‘crops’

With three months left in 2022 fiscal year, average daily seizures of pot, cocaine and heroin plummet; fentanyl still going strong EL PASO, Texas (Border Report) – Border agents are reporting a 25 percent increase in illicit drug seizures at ports of entry, highway checkpoints and along the international boundary last June compared to May. However, seizures…

More Categories

Back To Top
×Close search
Search