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 Inc. announces the acquisition of The Hawthorne Gardening Company from Scotts Miracle-Gro.

• The transaction further strengthens the Company’s balance sheet with combined cash and net working capital of approximately $110 million.
• 213 million shares outstanding with an implied price of $0.60 and 80 million warrants with a strike price of $0.85.
• The company has nominated Scotts Miracle-Gro EVP Chris Hagedorn for election to its board of directors.

MINNEAPOLIS, April 8, 2026 (GLOBE NEWSWIRE) — Vireo Growth Inc. (CSE: VREO; OTCQX: VREOF) (“Vireo” or the “Company”) announced today that it has completed the acquisition of The Hawthorne Gardening Company LLC (including certain of its subsidiaries, “Hawthorne”), a leading supplier of horticultural nutrients, lighting and other materials in North America. The Scotts Miracle-Gro Company (“ScottsMiracle-Gro”) (“Hawthorne Transaction”).

As a result of the Hawthorne transaction, Vireo acquired $35 million in cash held by Hawthorne, approximately $58 million in net working capital and $20 million in subland (primarily growing media) to be delivered to the company over two years in exchange for the release of Good Dog Holdings to 2nd 2nd Holdings LLC. of the Company (each, a “Share”) and a warrant to purchase 80 million shares (the “Warrants” and together with the Shares, the “Securities”) at an exercise price of $0.85 per share exercisable for a period of five years from the date of issuance. In connection with the transaction, Vireo has nominated Scotts Miracle-Gro Executive Vice President and CEO of the Hawthorne business, Chris Hagedorn, for election to its board of directors at the Company’s annual general and special meeting of stockholders on May 29, 2026.

“The acquisition of Hawthorne further strengthens Vireo’s balance sheet and creates a procurement platform to optimize supply chain management and drive cost efficiency across our portfolio,” said John Mazarakis, Chief Executive Officer of Vireo Growth. “We are pleased to partner with Scotts Miracle-Gro on a transaction that provides approximately $110 million in cash and net working capital to the Company, and welcome the opportunity to maximize Hawthorne’s business value and operational contribution.”

“Vireo has demonstrated a clear ability to integrate complex businesses and operate efficiently,” said Chris Hagedorn, executive vice president of The Scotts Miracle-Gro Company. “Hawthorne is a natural fit on the Vireo platform, and I’m excited to work alongside the team to help realize its full potential.”

The Securities described above have not been, and will not be, registered under the United States Securities Act of 1933 (the “Securities Act”) or under US state securities laws. Accordingly, the Securities may not be offered or sold in the United States except with an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and applicable US state securities laws.

Early warning exposure

Immediately prior to the Hawthorne transaction, Good Dog did not beneficially own or control, directly or indirectly, any shares or securities that are convertible or exercisable into shares.

After giving effect to the Hawthorne transaction, Good Dog acquired 213,000,000 shares, representing approximately 14% of Vireo, with a market value of $83.7 million and $117.2 million based on the closing share price on the Canadian Stock Exchange. 80,000,000 Guarantees. In the event that Good Dog exercises all of its warrants, such exercise would result in Good Dog owning up to an additional 80,000,000 shares, and Good Dog’s aggregate ownership interest in Vireo would be approximately 19%, with a market value of US$115.1 million and C$161.2 million based on the CSE closing price of US$30. in 2026

Good Dog acquired the shares for investment purposes. Good Dog takes a long-term view of the investment and may acquire additional Vireo securities, including in the open market or through private acquisitions, or sell Vireo securities, including in the open market or through private placements, in the future, subject to resale restrictions, market conditions, plan reformulations and/or other relevant factors.

In addition to National Instrument 62-103 – The Early Warning System and related takeover bid and insider reporting requirements, Good Dog will file an early warning report in connection with its participation in the Hawthorne transaction. A copy of Good Dog’s Early Warning Report will appear on Vireo’s profile on SEDAR+ and may also be obtained directly upon request by calling Good Dog’s office at (917) 370-827 (2 East 70th Street, New York, NY, USA, 10021).

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.