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Vireo Health Announces Closing of Previously Announced Divestiture of Ohio Medical Solutions
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MINNEAPOLIS, April 1, 2021 /PRNewswire/ Vireo Health International, Inc. ( Vireo or the Company ) (CSE: VREO; OTCQX: VREOF), the science-focused, multi-state cannabis company, today announced that the sale of its former subsidiary, Ohio Medical Solutions, LLC, to Ayr Wellness, Inc. closed on March 31, 2021. In connection with the closing of the transaction, Vireo received cash proceeds of $1.15 million, and was relieved of $3.6 million in right of use liabilities affiliated with lease obligations. The closing of this transaction was another important milestone in the successful execution of our core market strategy, which has been focused on increasing scale in our vertically-integrated markets of Arizona, Maryland, Minnesota, New Mexico, and New York, said Chairman & Chief Executive Officer, Dr. Kyle Kingsley. Our improving