Bruce Linton Announces Filing of Early Warning Report Regarding Vireo Health International, Inc.

TORONTO, June 10, 2020 /CNW/ - Bruce Linton today announced that he has filed an early warning report under National Instrument 62-103 in connection with the termination of his employment (the "Triggering Event") with Vireo Health International, Inc. (the "Corporation") pursuant to which 15,000,000 incentive warrants of the Corporation previously issued to Mr. Linton on November 7, 2019 (the "Incentive Warrants") fully vested and became exercisable, effective June 8, 2020. Each Incentive Warrant entitles Mr. Linton to purchase one subordinate voting share of the Corporation (a "Share") at an exercise price as follows: (i) 10,000,000 Incentive Warrants at an exercise price of US$1.02 per Share, (ii) 2,500,000 Incentive Warrants at an exercise price of US$3.81 per Share and (iii) 2,500,000 Incentive Warrants has an exercise price of US$5.86 per Share.

As a result of the Triggering Event, Mr. Linton is deemed to have acquired, and to be the beneficial owner of, 15,000,000 Shares underlying the Incentive Warrants. Accordingly, immediately following the Triggering Event, Mr. Linton beneficially owned, and exercised control or direction over 1,736,715 Shares and 16,736,715 share purchase warrants (including the Incentive Warrants), representing approximately 4.65% of the issued and outstanding Shares on a non-diluted basis and approximately 34.16% of the issued and outstanding Shares on a partially-diluted basis, assuming the exercise of the warrants. Prior to the Triggering Event, Mr. Linton beneficially owned, and exercised control or direction over 1,736,715 Shares and 1,736,715 warrants, representing approximately 4.65% of the issued and outstanding Shares on a non-diluted basis and approximately 8.89% of the issued and outstanding Shares on a partially-diluted basis, assuming the exercise of the warrants.

Mr. Linton holds his securities in the Corporation primarily for investment purposes. While Mr. Linton currently has no plans or intentions with respect to the securities of the Corporation, depending on market conditions, general economic and industry conditions, trading prices of the Corporation's securities, the Corporation's business, financial condition and prospects and/or other relevant factors, Mr. Linton may develop such plans or intentions in the future and, at such time, may from time to time acquire additional securities, dispose of some or all of the existing or additional securities or may continue to hold the Shares or other securities of the Corporation.

A copy of the early warning report filed by Mr. Linton will be available under the Corporation's profile on SEDAR at www.sedar.com or by contacting Bruce Linton at 613-271-7614. The Corporation's head office is located at 1330 Lagoon Avenue, 4th Floor, Minneapolis, Minnesota, 55408.

SOURCE Bruce Linton