Kyle Kingsley Acquires Super Voting, Multiple Voting and Subordinate Voting Shares of Vireo Health International, Inc.

VANCOUVER, March 20, 2019 /CNW/ - On March 18, 2019, Vireo Health International, Inc. (the "Issuer"), located at 1330 Lagoon Avenue, 4th Floor, Minneapolis, Minnesota 55408, completed its previously announced business combination (the "Business Combination") with Vireo Health, Inc. (the "VHI") to create a U.S. based cannabis cultivator, processor and dispensary operator.

Kyle Kingsley, Founder and the CEO of the Issuer (the "Acquiror"), located at 1330 Lagoon Avenue, 4th Floor, Minneapolis, Minnesota 55408, announced today that in connection with the Business Combination, the Acquiror acquired beneficial ownership or control or direction over 65,411 Super Voting Shares, representing 100% of the class, and options and convertible debt that are immediately exercisable at the option of the Acquiror (subject to payment of the applicable consideration) into 58 Multiple Voting Shares and 4,500,726 Subordinate Voting Shares.

Each Super Voting Share is convertible into one Multiple Voting Share.  Accordingly, the Acquiror is deemed to have acquired 65,469 Multiple Voting Shares, which represents 11.3% of the class on a partially diluted basis.  Each Multiple Voting Share is convertible into 100 Subordinate Voting Shares.  Accordingly, the Acquiror is deemed to have acquired 11,047,626 Subordinate Voting Shares, representing 34.5% of the class on a partially diluted basis.  If all of the current Super Voting Shares and Multiple Voting Shares were converted to Subordinate Voting Shares, the Acquiror would beneficially own 14.0% of the class.

This press release is issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which requires a report to be filed on SEDAR (www.sedar.com) containing additional information with respect to the foregoing matters. A copy of this report may be obtained by contacting Investor Relations, Vireo Health International, Inc., Phone: [phone].

SOURCE Vireo Health International, Inc.

please contact Investor Relations, Vireo Health International, Inc., Phone: [phone].