Goodness Growth Holdings and Grown Rogue International Announce Strategic Advisory Agreement
May 25, 2023 at 09:02 am EDT
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Goodness Growth Holdings, Inc. and Grown Rogue International, Inc. announced that they have entered into a strategic agreement whereby Grown Rogue will support Goodness Growth in the optimization of its cannabis flower products, with a particular focus on improving the quality and yield of top-grade "A" cannabis flower across its various operating markets, starting with Maryland and Minnesota. Grown Rogue, based in Oregon, is a renowned craft cannabis operator with proven expertise growing, harvesting, processing, packaging and selling cannabis flower in the most competitive adult-use markets. The company has a reliable focus on driving quality and value through efficient standard operating procedures and superior genetics, which has resulted in Grown Rogue becoming the number one flower brand in Oregon and a top five indoor flower brand in Michigan.
Goodness Growth is a Minneapolis-based operator whose medical expertise helped its team build a portfolio ofmerit-based medical license awards, which are all currently experiencing transitions to adult-use regulatory frameworks. Under the terms of the agreement, which expires on September 30, 2025, Goodness Growth will provide compensation to Grown Rogue for sustained consulting support, including input on systems and processes, and recommendations to improve Goodness Growth's cultivation operations. Grown Rogue will be entitled to receive additional incentive compensation if its services result in improved cash flow performance as compared to Goodness Growth's baseline expectations over the term of the agreement.
Grown Rogue's cooperation in the agreement will be on an exclusive basis to Goodness Growth within the markets in which Goodness Growth operates.
Goodness Growth Holdings, Inc. is a multi-state cannabis company. The Company has operations in four markets in Maryland, Minnesota, New Mexico, and New York. The Company is science-focused and provides patients and adult-use customers with cannabis-based products. It cultivates and manufactures pharmaceutical-grade cannabis extracts and sells its products at both Company-owned and third-party dispensaries to qualifying patients and adult-use customers. It has developed proprietary cannabis strains, cultivation methods, carbon dioxide extraction, ethanol extraction, and other processes related to the production, refinement, and packaging of cannabis products. The Company manufactures, assembles, and packages cannabis finished goods across a range of product segments, including Inhalable, Ingestible, and Topicals. Its brands include Vireo Spectrum, Vireo Selects, 1937, LiteBud, Boundary Waters, Hi-Color, Kings and Queens, and various other flower and trim brands.