- **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**.  **[1771706_0001104659-25-099334_tm2528666d1_ex99-1.htm:0]** **[1771706_0001104659-25-099334_tm2528666d1_8k.htm:3]** 
- 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.  **[1771706_0001104659-25-099334_tm2528666d1_ex99-1.htm:0]** **[1771706_0001104659-25-099334_tm2528666d1_8k.htm:3]** 
- 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.  **[1771706_0001104659-25-099334_tm2528666d1_ex99-1.htm:0]** **[1771706_0001104659-25-099334_tm2528666d1_8k.htm:1]** 
- The acquired notes, which are currently in default, mature in **December 2026** and carry a **13.0 percent** interest rate.  **[1771706_0001104659-25-099334_tm2528666d1_ex99-1.htm:0]**

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

- **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).  **[1771706_0001104659-25-097924_tm2528251d1_ex10-1.htm:0]** **[1771706_0001104659-25-097924_tm2528251d1_ex10-2.htm:0]** **[1771706_0001104659-25-097924_tm2528251d1_ex99-1.htm:0]** **[1771706_0001104659-25-097924_tm2528251d1_8k.htm:1]** 
- 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**.  **[1771706_0001104659-25-097924_tm2528251d1_ex99-1.htm:0]** **[1771706_0001104659-25-097924_tm2528251d1_8k.htm:1]** 
- The consideration will be paid in **Vireo's subordinate voting shares** at a deemed price of **$0.54 per share**.  **[1771706_0001104659-25-097924_tm2528251d1_ex99-1.htm:0]** **[1771706_0001104659-25-097924_tm2528251d1_8k.htm:1]** 
- Schwazze is currently in **default on its payment obligations** under these notes.  **[1771706_0001104659-25-097924_tm2528251d1_8k.htm:1]** 
- The transaction is expected to close by **October 31, 2025**, subject to customary conditions, including Canadian Stock Exchange approval.  **[1771706_0001104659-25-097924_tm2528251d1_ex99-1.htm:0]** **[1771706_0001104659-25-097924_tm2528251d1_8k.htm:1]**

Vireo Growth (VREOF)