Goodness Growth To Divest Its Arizona Dispensary License For 15M, Plans To Focus On Wholesale Channel

Cannabis company Goodness Growth Holdings, Inc. (CSE: GDNS) (OTCQX: GDNSF) announced Tuesday that it is selling its license, all remaining inventory and equipment at its Phoenix dispensary, in an all-cash transaction valued at $15 million.

What Happened

The deal between its subsidiary Vireo Health of Arizona, LLC, and Copperstate Farms, LLC, the Phoenix includes the sale of the property lease and all revenue-producing contracts.

The Minneapolis-based company expects the transaction to close later this year, pending regulatory approval.

The transaction also includes related cultivation licenses for both medical and adult-use cannabis, only one of which is currently operational at the company's 18-acre outdoor farm in Amado, Arizona, south of Tucson.

"Given our presence as a predominantly wholesale supplier of …

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