You are reading this week’s edition of New Cannabis Ventures, a weekly magazine we have published since October 2015. The newsletter includes unique insight to help our readers stay ahead of the curve, as well as links to the most important news of the week. We no longer email them like we used to, but post this and all newsletters on our website here.

friends,

Just before Christmas, this newsletter discussed how Vireo Growth is getting pretty big. At the end of January I profiled how Vireo Growth is expanding its business. This week’s newsletters include six articles we’ve run since April 2, and Vireo Growth is central to two of them. Vireo Growth is big and getting bigger, but few people seem to care.

I’m not writing this to tell readers to care. In fact, while I used to include the company on my Focus List at 420 Investor, I no longer do. Earlier this month I wrote an article for my subscribers about why I keep looking at things but not including stocks in my Focus List. Here is the summary.

I watch VREOF because it is now one of the largest MSOs by revenue, but it continues to fall short of joining the Global Hemp Stock Index due to its low trading volumes. Average daily trading volume over the past month was 251,000 shares, which is about $100,000 in daily trading value. This is well below peers. Perhaps more importantly, the current price of $0.45, which is down 26.6% year-to-date, is significantly lower than the price of $0.625 for the last large cap in 2024. Not only are the investors not winning, but VREOF hsa distributed a lot of shares to the sellers and they are also under water.

Maybe Vireo Growth shares will reward their owners, or maybe it will continue to do so. I think hemp stock investors and debt holders should be asking why no one is thinking of this yet. Scotts Miracle-Gro, which has been public since 1992 and has a market cap of $3.6 billion, picked up much of VREOF’s stock when it spun off Hawthorne. The 213 million shares are “at an implied price of $0.60” per share, although VREOF hasn’t traded at $0.60 since January. When the divestiture was announced in late January, Vireo Growth closed at $0.5553.

So a large MSO that has reshuffled its management, is now in multiple markets, and has executed its plan to get bigger with several acquisitions, is still not responding to the cannabis investment community. I wish them the best.

Sincerely,

Alan:

New Cannabis Ventures publishes curated articles as well as exclusive news. Here is what we have published in the last 2 weeks.

Exclusives

The sale of hemp did not succeed until March

Michigan’s hemp sales are down again

Mergers and acquisitions

Aurora Cannabis acquires Cultivator for C$26.5 million

Greenhouse Brands and Vireo Growth Weak in California Cannabis Combination

Organigram Global Closes European Acquisition

Vireo Growth acquires Hawthorne Gardening Company

Follow Alan for real-time updates X.com:. Share and discover industry news with like-minded people on the largest group of cannabis investors and entrepreneurs LinkedIn:.

View: Public Hemp Company Revenue and Earnings Trackingwhich ranks the highest-earning hemp stocks.

Stay on top of the most important communications from public companies by watching what’s coming cannabis investor calendar.

Based in Houston, Alan leverages his experience as an online community founder 420 Investorthe first and still the largest due diligence platform focused on publicly traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. time New Cannabis Ventureshe is responsible for content development and strategic alliances. Before turning his attention to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst with more than two decades of research and portfolio management experience. A prolific writer, with over 650 articles published since 2007 Looking for Alphawhere he has 70,000 followers, Alan is a frequent speaker at industry conferences and frequent source Media including the NY Times, Wall Street Journal, Fox Business and Bloomberg TV. Contact Alan. Twitter: |: Facebook |: LinkedIn: |: El

Vireo Growth Announces California Retail Joint Venture with Glass House Brands

MINNEAPOLIS and LONG BEACH, Calif., April 13, 2026 (GLOBE NEWSWIRE) — Vireo Growth Inc. (“Vireo”) (CSE: VREO; OTCQX: VREOF) and Glass House Brands Inc. (“Glass House”) (CBOE CA: GLAS.AU) (CBOE CA: GLAS.WT.U) (OTCQX: GLASF) (OTCQX: GHBWF) today announced a joint venture to build one of the largest and most strategically located cannabis retail platforms in California. Subject to regulatory and certain closing conditions, each company will contribute its California dispensary operations to the joint venture in exchange for a 50% ownership interest.

Vireo operates twelve dispensaries and home delivery from recently acquired Eaze, Inc. (“Eaze”). Glass House currently operates eleven retail locations in California. The combined network will be supported by a preferential supply agreement with Glass House, California’s largest producer of large-scale hemp. After five years, Vireo will have the option to acquire Glass House’s shares in the joint venture, and Glass House will have a reciprocal right.

Cory Azzalino, president of California-based Vireo, has been named CEO of the joint venture, where he will oversee operations and lead the platform’s retail acquisition and expansion strategy.

“California remains the world’s largest legal cannabis market, and this joint venture allows us to unlock its potential in a way that neither company can achieve alone,” said Kyle Kazan, Glass House co-founder, president and CEO. “Vireo brings exceptional retail access and delivery infrastructure through the Eaze platform, while Glass House leverages proven retail execution, low cost, scale manufacturing and deep brand equity. Together with Vireo, we have found ways to mitigate California’s challenging pricing dynamics and expand the value of our retail operations without increasing the value of our retail operations without the core objectives of Glass. new legal markets outside the state”.

“Glass House is an ideal partner to collaborate with to build the future of cannabis retail in California,” said John Mazarakis, CEO of Vireo. “Their manufacturing scale and brand strength, combined with Vireo’s retail depth and one of the industry’s leading technology-based delivery platforms, creates a joint venture that is greater than the sum of its parts;

The joint venture’s integrated delivery capabilities through the Eaze platform will expand distribution to areas with limited retail access, providing competitive pricing that supports the legal market.

I am proud to lead this platform and the opportunity it represents. Our combined retail and delivery network gives us the ability and resources to bring high-quality, affordable cannabis to consumers in California, including underserved communities, while pursuing disciplined growth that strengthens the legal market over the long term.

Cory Azalino

About Glass House Brands

Glass House is one of the fastest growing, vertically integrated cannabis companies in the US, focused on the California market and building leading, sustainable brands to serve consumers across all segments. Whether through its portfolio of brands that include Glass House Farms, PLUS Products, Allswell and Mama Sue Wellness, or its network of retail clinics across the state of California that includes The Farmacy, Natural Healing Center and The Pottery, Glass House is committed to its vision of excellence; For more information and company updates, visit www.glasshousebrands.com/ and https://ir.glasshousebrands.com/contact/email-alerts/.

About Vireo Growth Inc

Vireo was founded in 2014 as a leading medical cannabis company. Vireo is building a disciplined, strategically aligned and execution-focused platform in the industry. This strategy drives our intense local market focus while leveraging the strength of the national portfolio. We are committed to hiring industry leaders and deploying capital and talent where we believe it will deliver the most value. Vireo operates with a long-term mindset, an action bias, and an unwavering commitment to its customers, employees, shareholders, industry partners, and the communities it serves. For more information about Vireo, visit www.vireogrowth.com.

Original press release

Published by NCV Newswire

New Cannabis Ventures’ NCV Newswire aims to gather high-quality content and information about leading cannabis companies to help our readers filter through the noise and stay on top of the most important cannabis business news. The NCV Newswire is edited by an editor and is not, however, automated. Got a secret news tip? Get in touch.

Hemp stocks, as measured by the Global Hemp Stock Index, were quite volatile in 2024 and then again in 2025 as well. Although the index rose in December, it fell on the year. In January, the indicator decreased by 14.4%, reaching 5.89. February saw a drop in prices, but the market recovered with the index ending the month at 5.86. March was very difficult, with the index falling 10.6% to 5.24.

After collapsing 21.8% in late 2024 to 6.88 in Q4, the index fell heavily in Q1 and then marginally in Q2. The global hemp stock index, which now has 5 27 members in Q1, gained 53.0% in the third quarter, but fell 14.2% in the fourth quarter, down 4.2% for the full year. In 2026, it decreased by 20.5 percent.

Since its peak in February 2021, the Global Hemp Stock Index is down 94.3% from a closing high of 92.48.

The 3 strongest names in March, each an MSO, were all up more than 13%;

• summer (OTC: VRNO). +0.9%
• Glass House (OTC: GLASF). +0.2%
• Jazz Pharma (NASDAQ: JAZZ). -0.5%

These three stocks have been mixed year-to-date, with only JAZZ rallying so far. The other two have less decline than the index.

The 3 weakest names were all down more than 13% in March;

Akanda and iPower 2026 have both fallen significantly so far, while Turning Point Brands has fallen slightly worse than the benchmark.

The index has been recalculated as of the close of 31.03.31 and is based on 24.03. For the second quarter, the index will have 24 names, down from 27 names, with six removals and three additions. Out of the index are AKAN, GRWG, IPW, RYM, TSNDF and YCBD. Advanced Flower Capital ( AFCG ), Charlotte’s Web ( CWBHF ), and Chicago Atlantic BDC ( LIEN ) rejoin the index.

We will summarize the performance of the index again in a month. In April 2025, we historically combined the two articles, and we update here the other indices that New Cannabis Ventures continues to maintain, the US Hemp Operator Index, the Auxiliary Hemp Index, and the Canadian Hemp LP Index.

American Hemp Operator Index

The ACOI sank in January, falling 12.5% ​​to 11.53, and fell further in February, falling 5.8% to 10.87. In March, it decreased by 5.5%, reaching 10.27. In 2025, it increased by 57.7% to 13.18, and in 2026, it decreased by 22.1%. The large AdvisorShares Pure US Cannabis ETF ( MSOS ) fell 8.5% in March and 24.8% in 2026.

The strongest stock in March was Verano, up 0.9%. The weakest, Trulieve (OTC: TCNNF ), fell 12.4%.

In April, the index will have the same seven members.

Auxiliary cannabis index

Ancillary commodities lost 6.5% in March as the index fell to 9.20. The index decreased by 19.5% in 2025, reaching 11.09, and this year it decreased by 17.0%.

The strongest stock in March was (NASDAQ: AFCG ), which rose 23.7%. The weakest, Turning Point Brands, fell by 36.7%.

In March, the index will have eight members following the reorganization of Chicago Atlantic BDC.

Canadian Hemp LP Index

Canadian LPs fell 7.5% in March as the index fell to 51.49. In 2025, the index increased by 17.8%, reaching 59.01, and in 2026, it decreased by 12.7%.

Canada’s strongest LP in March was Decibel Cannabis (TSXV: DB ), up 28.6%. Simply Insoluble Concentrates (TSXV: HASH ) was the weakest, falling 57.7%.

In April, the index will have eleven members as MTL Cannabis has been acquired and Simply Solventless Concentrates is no longer eligible due to its price.