Investor Presentation March 2019 CSE: VREO
Disclaimer CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION: This document includes information, statements, beliefs and opinions which are forward-looking, and which reflect current estimates, expectations and projections about future events, referred to herein and which constitute “forward -looking statements” or “forward -looking information” within the meaning of Canadian and U.S. securities laws. Statements containing the words “believe”, “expect”, “intend”, “should”, “seek”, “anticipate”, “will”, “positioned”, “project”, “risk”, “plan”, “may”, “estimate” or, in each case, their negative and words of similar meaning are intended to identify forward-looking statements. By their nature, forward-looking statements involve a number of known and unknown risks, uncertainties and assumptions concerning, among other things, the Company’s anticipated business strategies, anticipated trends in the Company’s business and anticipated market share, that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. In addition, even if the outcome and financial effects of the plans and events described herein are consistent with the forward-looking statements contained in this document, those results or developments may not be indicative of results or developments in subsequent periods. Although the Company has attempted to identify important risks and factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors and risks that cause actions, events or results not to be as anticipated, estimated or intended. Forward-looking information contained in this presentation is based on the Company’s current estimates, expectations and projections, which the Company believes are reasonable as of the current date. The Company can give no assurance that these estimates, expectations and projections will prove to have been correct. You should not place undue reliance on forward-looking statements, which are based on the information available as of the date of this document. Forward-looking statements contained in this document are made of the date of this presentation and, except as required by applicable law, the Company assumes no obligation to update or revise them to reflect new events or circumstances. Historical statements contained in this document regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. In this regard, certain financial information contained herein has been extracted from, or based upon, information available in the public domain and/or provided by the Company. In particular historical results should not be taken as a representation that such trends will be replicated in the future. No statement in this document is intended to be nor may be construed as a profit forecast. CANNABIS-RELATED ACTIVITIES ARE ILLEGAL UNDER U.S. FEDERAL LAWS The U.S. Federal Controlled Substances Act classifies “marihuana” as a Schedule I drug. Accordingly, cannabis-related activities, including without limitation, the cultivation, manufacture, importation, possession, use or distribution of cannabis and cannabis products are illegal under U.S. federal law. Strict compliance with state and local laws with respect to cannabis will neither absolve the Company of liability under U.S. federal law, nor will it provide a defense to any federal prosecution which may be brought against the Company with respect to adult-use or recreational cannabis. Any such proceedings brought against the Company may adversely affect the Company’s operations and financial performance. Prospective investors should carefully consider the risk factors described under “Risk Factors” in this presentation before investing directly or indirectly in the Company and purchasing the securities described herein. Disclaimer || 2
Our Mission We are building the cannabis company of the future – from scaled manufacturing processes and equipment to proprietary products and a best-in-class customer experience – all by bringing the best of science, medicine, and engineering to the cannabis industry. - Kyle Kingsley, M.D. Founder & CEO Our Mission || 3
Corporate Timeline July 2014 June 2015 September 2015 May 2017 August 2017 July 2018 December 2018 March 2019 Executed RTO Broke ground on Awarded 1 of only 5 Midwest Hemp Launched first Participation in Awarded cultivation, Awarded 3 Retail transaction; listed Minnesota vertically integrated Research harvests first cannabis ad campaign $3.8MM NIH Study processing, and dispensary Licenses in on CSE (symbol “VREO”) production facility licenses in New York crop in Minnesota in NYC subway history pre-license in Maryland Pennsylvania December 2014 July 2015 April 2017 June 2017 June 2018 July 2018 January 2019 Awarded 1 of 2 vertically First Vireo patient regis- Launched NYC and Long Awarded Pennsylvania Raised $17MM in a Awarded Ohio Acquisition of RI integrated licenses in tered in Minneapolis Island’s first -ever medical cultivation and Series D Round processor license License Minnesota marijuana home delivery processing license program Corporate Timeline || 4
The Future of Cannabis Large Scale Novel Sales & Production Products Marketing Emphasis will be Placed on Multi-component Trusted Brands Outdoor Agricultural Botanicals Cultivation E-Commerce Derivative Products, Capabilities Novel Large Manufacturing Particularly Beverages Equipment and Processes Home Delivery Focus will be Essential to FDA-path Producing at Scale Medications and Nutraceuticals The Future of Cannabis || 5
Vireo Strategy Opportunistic Best-in-Class Real Intellectual Growth Customer Experience Property Organic Growth Highly Professional Brands Through Merit-Based Retail Apparatus Industrial-Scale License Wins Home Delivery Equipment Cost-Effective M&A E-Commerce Proprietary Cannabis Activity Formulations Hemp Strategy Vireo Strategy || 6
Opportunistic Growth: Hemp Vireo is focused on the multi-billion dollar hemp market opportunity by developing combine-friendly, high- cannabinoid cannabis cultivars along with innovative consumer products. Midwest Hemp 1776 Hemp Research - Minnesota – New York Licensed to Cultivate and Licensed to Cultivate and Process Industrial Hemp Process Industrial Hemp Growing Hemp Since 2015 Cutting edge 15,200 sq. ft. Facility Under Development Building Out Hemp Breeding Facility Opportunistic Growth || 7
Best-in-Class Customer Experience: Retail Dispensaries Vireo’s retail outlets are being transformed and rebranded to “Green Goods” dispensaries, which will feature an inviting health and wellness environment, focused on personalized service Stock only the highest quality, safest products that have been selected by Vireo medical and scientific teams Multiple ordering and fulfillment options for customers, including in-store pick-up, self- ordering stations and home delivery “Knowledge Bar” for patients and adult -use consumers seeking expert information from on- site pharmacists and trained professionals Green philosophy, on-site recycling opportunities, community engagement and charitable giving Best-in-Class Customer Experience || 8
Best-in-Class Customer Experience: Home Delivery & In-Store Pick-Up Best-in-Class Customer Experience || 9
Real Intellectual Property: Brands Pharmaceutical-grade High-Quality, Innovative Balanced, Comfortable, High Potency Products for Products Geared Toward Products for a Curious, Reliable Products for a Sophisticated Consumer Patients Socially-Conscious Consumer Everyday Wellness Real Intellectual Property || 10
Real Intellectual Property: Research Partners Exclusive agreement to study the IRB-approved research study to Study to evaluate cannabis use Randomized trial of medical use of Captisol in the development examine older adults’ use of among older adults – how they cannabis in patients with newly and commercialization of medical cannabis for chronic pain consume, why they consume and diagnosed, stage IV cancer to assess pharmaceutical-grade cannabinoid- how often impact on cancer-related symptoms based products Initiative to bring together diverse stakeholders University of Minnesota: Fasting, fed and National Institute of Health R01 $3.8MM in the cannabis therapy space, to advance chronic therapy pharmacokinetic research research grant for the first, long-term scientific understanding of medical marijuana project combining neuropsychological study of medical cannabis’ impact on and its derivatives, and to provide evidence- testing, DNA testing and seizure control opioid use in adults with chronic pain based resources for patients and their caregivers monitoring Real Intellectual Property || 11
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