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Cannabis MSO Vireo Health International, Inc. (CSE:VREO) achieved two company milestones with the launch of its new brand, 1937.
What Happened
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The launch of 1937 gives Vireo its first launch of a new cannabis brand. 1937 also represents the company’s first foray into offering dry flower.
The brand, named after the Marihuana Tax Act of 1937 which prohibited cannabis in the United States, plans to release a line of concentrates later in the year.
Products can be found in dispensaries in Maryland and Pennsylvania.
Kyle Kingsley, MD, Vireo CEO and founder, touched on his company's excitement for the new brand and its product offerings.
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"By expanding our product lines to include dry flower, we are increasing access and affordability, while providing our customers – both cannabis connoisseurs and medical patients alike – with new choices and opportunities to discover which products best meet their individual needs."
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Kingsley told Benzinga on how 1937 would help with affordability and access.
“Dry flower can help drive down price because it is the least expensive cannabis format to produce and can be sold at lower prices. Whereas as cannabis products like tinctures or capsules require extra processing and are more expensive to create and that cost is usually passed on to consumers."
The CEO and founder explained the company has been lobbying all states to include dry flower in its program. "Accessibility is also increased via price reductions, sadly some patients simply can’t afford medical cannabis in its current state.”
Vireo Chief Marketing Officer Harris Rabin added that the company plans to create and launch several new brands to suit customers.
"Vireo is developing a strong portfolio of brands that engage and delight both recreation and medical consumers," added Rabin noted.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.