Minnesota cannabis company Vireo gives retail outlets a new name, Green Goods

Vireo Health, a Minneapolis-based cannabis company, has changed the name of its Minnesota Medical Solutions cannabis-patient centers to Green Goods.

"The Green Goods brand is the next evolution of Vireo's continued commitment to providing patients with best-in-class medical cannabis products and customer experiences," Dr. Kyle Kingsley, the firm's chief executive, said in a statement.

Its retail outlets in Minneapolis, Bloomington, Rochester and Moorhead are being renovated to "create a relaxed and engaging environment" and "serve more patients in a timely fashion," the firm said.

Vireo Health expects to open two new locations in Blaine and Hermantown under the Green Goods brand by November and additional locations in Burnsville and Woodbury should open by the end of 2020.

Green Goods locations also will have on-site pharmacists and a "knowledge bar" for patients seeking information. The renovated shops will also be used for community engagement events, charitable giving programs and educational outreach efforts.

Vireo, which is losing money this year, has been investing millions since it gained a public-stock listing in 2019 to build out a several-state network, from growing to retail businesses that range from medical to recreational, depending upon state laws.

The company's stock price has fallen from about $4.75 per share to below $1 per share over its 16 months as a public company amid an industry shakeout that is complicated by disparate state and federal laws and regulation.

Vireo, which recently sold its business in Pennsylvania, is focused on Arizona, Maryland, Minnesota, New Mexico and New York.

The company holds 32 retail dispensary licenses.

Neal St. Anthony • 612-673-7144