Vireo Growth (VREOF) Company Report

Vireo Growth Inc. announced a definitive agreement to acquire Eaze Inc., a vertically-integrated cannabis retailer and delivery technology platform.
This acquisition marks Vireo's entry into the California and Florida cannabis markets and will expand its retail presence in Colorado, increasing its total footprint to 10 states with 166 dispensaries and approximately 800,000 sq. ft. of cultivation and production.
The base consideration for the transaction is approximately $47.0 million, payable through the issuance of approximately 84 million subordinate voting shares at a deemed price of US$0.56 per share.
Eaze may also receive earn-out consideration as of December 31, 2026, calculated as 3.84x adjusted EBITDA, payable in subordinate voting shares at a deemed price equal to the higher of $1.05 and the 20-day volume-weighted average price.
The transaction is expected to close during the first half of calendar year 2026.

Dec 30, 2025, 9:29 PM

Vireo Growth Inc. to Acquire Additional Schwazze Convertible Notes

VREOF

M&A

Debt Issuance

New Projects/Investments

Vireo Growth Inc. announced on December 19, 2025, its plan to acquire additional outstanding senior secured convertible notes of Medicine Man Technologies Inc. (dba Schwazze).
The notes, with a total outstanding principal plus accrued interest of approximately $2.6 million, will be acquired for approximately $1.6 million.
The consideration will be paid in Vireo's subordinate voting shares at a price of $0.54 per share.
Upon closing, expected by December 31, 2025, Vireo will own approximately 89% of Schwazze's outstanding senior secured convertible notes.
Schwazze is currently in default on these notes, which accrue interest at 13% per annum and mature on December 7, 2026.

Dec 29, 2025, 9:09 PM

Vireo Growth Inc. to Acquire PharmaCann Assets in Colorado

VREOF

M&A

New Projects/Investments

Vireo Growth Inc. and its subsidiary have entered into an Asset Purchase Agreement to acquire certain retail assets and properties from PharmaCann Inc. in Colorado.
The acquisition is valued at approximately $49.0 million, payable in subordinate voting shares, and will expand Vireo's Colorado retail market presence to 41 total dispensaries.
The transaction is expected to close during the first half of calendar year 2026, subject to satisfaction of closing conditions and regulatory approvals.

Dec 22, 2025, 12:00 PM

Vireo Growth Inc. Announces Q3 2025 Results and Strategic Developments

VREOF

Earnings

M&A

New Projects/Investments

Vireo Growth Inc. reported Q3 2025 GAAP revenue of $91.7 million, marking a 264% increase year-over-year.
Adjusted EBITDA for Q3 2025 reached $25.4 million, a 297.0% year-over-year increase, with an Adjusted EBITDA Margin of 27.7%.
The company concluded Q3 2025 with $117 million in cash.
Key strategic developments include the launch of adult-use cannabis sales in Minnesota on September 16, 2025, and the acquisition of senior secured convertible notes of Schwazze with plans for restructuring.
A refinancing of senior secured debt was completed, which is expected to decrease annualized interest expense by $10 million.

Nov 12, 2025, 1:00 PM

Vireo Growth Inc. and Verano Holdings Corp. Announce Resolution of Litigation Matters

VREOF

Legal Proceedings

M&A

Vireo Growth Inc. and Verano Holdings Corp. announced a comprehensive settlement on October 29, 2025, resolving all outstanding litigation matters between the two companies.
The settlement is valued at approximately US$10 million for Vireo, consisting of the acquisition of certain real estate assets and US$1 million in cash.
This litigation, which began on October 21, 2022, was related to an arrangement agreement from January 31, 2022, between the companies.

Nov 3, 2025, 9:06 PM

Vireo Growth Inc. Closes Acquisition of Schwazze Notes and Enters Restructuring Agreement

VREOF

M&A

Debt Issuance

New Projects/Investments

Vireo Growth Inc. closed the acquisition of approximately $91,000,000 (principal and interest) of Schwazze's senior secured convertible notes for $62 million as of October 10, 2025.
This acquisition, representing approximately 86% of Schwazze's total outstanding senior secured notes, was paid for by issuing 114,807,815 subordinate voting shares of Vireo.
Simultaneously, Vireo entered into a Restructuring Support Agreement (RSA) with Schwazze to restructure its operations, which includes the sale of a majority of Schwazze's assets to a new entity (NewCo) that Vireo will majority-own, and the liquidation of Schwazze's remaining operations.
The acquired notes, which are currently in default, mature in December 2026 and carry a 13.0 percent interest rate.

Oct 14, 2025, 8:46 PM

Vireo Growth Inc. Enters Agreements to Acquire Schwazze Convertible Notes

VREOF

M&A

New Projects/Investments

Vireo Growth Inc. (VREOF) has entered into definitive agreements, effective October 2, 2025, to acquire approximately 86% of the outstanding 13% Senior Secured Convertible Notes of Medicine Man Technologies Inc. (dba Schwazze).
The notes, which have a value of approximately $91,000,000 (consisting of principal and accrued interest), are being acquired for total consideration of approximately $62,000,000.
The consideration will be paid in Vireo's subordinate voting shares at a deemed price of $0.54 per share.
Schwazze is currently in default on its payment obligations under these notes.
The transaction is expected to close by October 31, 2025, subject to customary conditions, including Canadian Stock Exchange approval.