Pot Retailers Harvest And Vireo Sell Off Assets In 2 States

Law360 (November 17, 2020, 10:22 PM EST) -- Cannabis companies Harvest Health & Recreation and Vireo Health have separately sold off dispensary assets in Arkansas and Pennsylvania, respectively, bringing in nearly $18 million between them as they look to pad their balance sheets and double down on existing markets.

Harvest on Monday said it brought in $12.9 million in cash for its stake in entities controlling a medical marijuana dispensary and cultivation facility in Arkansas. Vireo, meanwhile, exited Pennsylvania with the sale of a dispensary operator for $5 million.

The moves signal that both companies are focusing on their existing turf despite the recent legalization of recreational pot in...

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