MINNEAPOLIS, April 03, 2026 (GLOBE NEWSWIRE) — Vireo Expansion Inc. (“Vireo”) (CSE: VREO; OTCQX: VREOF) lately introduced a strategic partnership with Ace Challenge of NY, LLC (“Ace”), a New York-based Minority & Girls-Owned Industry Undertaking led via lifelong New Yorker Steven Acevedo, to determine what is anticipated to change into New York’s first scaled social fairness operator rising from the state’s first minority-owned vertically built-in scientific hashish license.
The partnership was once advanced beneath the management of Leader Government Officer John Mazarakis and displays Vireo’s dedication to advancing New York’s imaginative and prescient for a accountable, inclusive, and community-oriented hashish business.
Below the settlement, Ace will think a 51% possession hobby in Vireo Well being of New York, LLC (“Vireo NY”), setting up a majority social equity-owned platform supported via Vireo’s longstanding operational experience, compliance infrastructure, and regulatory enjoy that Vireo has inbuilt New York since 2014.
Through pairing native management with one of the vital established working platforms within the state, the transaction is designed to create a sturdy undertaking aligned with regulatory priorities and long-term expansion.
Vireo NY operates one of the crucial state’s maximum advanced hashish platforms, with cultivation, production, and retail infrastructure constructed over greater than a decade of regulated scientific operations. Vireo will proceed to offer operational beef up to verify regulatory compliance, product high quality, and operational excellence as the bulk social equity-owned platform expands.
John Mazarakis, as CEO of Vireo Well being, Inc. and Steven Acevedo will serve at the board of managers of Vireo NY.
Steven Acevedo commented, “New York’s cannabis industry must reflect the communities it serves. I’ve spent my career building relationships across neighborhoods, community organizations, and business leaders throughout this state, and I believe this moment is about pairing that local trust with real operating strength.
I first met John when he was at Chicago Atlantic, and what stood out immediately was his discipline, integrity, and long-term mindset. When he stepped into leadership at Vireo, it was clear the company would continue building with seriousness and respect for the regulatory framework.
Vireo has developed one of the most established platforms in New York, and Chicago Atlantic has consistently demonstrated thoughtful, responsible capital stewardship in this industry. This partnership is built on trust and shared values, and I’m proud to work alongside John and the Vireo team to build something durable and community-centered for New York.”
Mr. Acevedo additionally expressed deep gratitude to the numerous leaders whose imaginative and prescient and dedication made this partnership conceivable: “This milestone would not have been achievable without the unwavering dedication of those who have championed equity in New York’s cannabis industry. I want to personally thank Governor Hochul for her leadership in ensuring that social equity remains central to New York’s cannabis framework, Assembly Majority Leader Crystal D. Peoples-Stokes for her tireless advocacy on behalf of communities that have long been left behind, and Senator Liz Krueger for her foundational work in shaping legislation that made this moment possible. I also want to acknowledge John Mazarakis – his integrity, patience, and genuine commitment to building something meaningful made him the right partner from day one. To everyone in the state who believed that equity and excellence could coexist in this industry: this is for you.”
John Mazarakis, Leader Government Officer of Vireo commented, “We’re excited to reach this agreement with Ace, which will bring tremendous leadership to New York’s cannabis community. We are eager to support Ace’s market entry through our ongoing operating agreement, and anticipate meaningful opportunities for our organization to collaborate with the Ace team in the future. This partnership reflects our belief that social equity and operational excellence must go hand in hand. Steven brings meaningful community credibility and leadership, and together we are committed to building a platform that aligns with New York’s regulatory framework and long-term objectives.”
About Ace VenturesACE Challenge of NY, LLC is a New York-based, Minority & Girls-Owned Industry Entity (MWBE) partnership. ACE Ventures was once based via lifelong New Yorker Steven Acevedo with the purpose of bringing in combination a crew of marketers with deep enjoy in each facet of the hashish trade. The entities venture is to deliver remarkable scientific, clinical, and operational experience to the hashish business whilst making an investment in communities which were disproportionately suffering from the Warfare on Medicine, with a purpose of making a successful corporate with top quality merchandise, whilst making social awareness the serve as of all of the business – now not merely a characteristic.
About Vireo Expansion Inc.Vireo was once based in 2014 as a pioneering scientific hashish corporate. Vireo is development a disciplined, strategically aligned, and execution-focused platform within the business. This technique drives our intense native marketplace center of attention whilst leveraging the power of a countrywide portfolio. We’re dedicated to hiring business leaders and deploying capital and ability the place we consider it is going to power probably the most price. Vireo operates with a long-term mindset, a bias for motion, and an unapologetic dedication to its consumers, staff, shareholders, business collaborators, and the communities it serves. For more info about Vireo, seek advice from www.vireogrowth.com.
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