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Vireo Growth (CSE: VREO, OTCQX: VREOF), through subsidiary Vireo Health of Arcadia, entered a definitive agreement to acquire certain cannabis cultivation, manufacturing and retail operations from subsidiaries of The Cannabist Company across Colorado, Illinois, Massachusetts, New Jersey and West Virginia for up to US$35 million.
Consideration includes up to US$18.75 million in cash at closing and up to US$16.25 million in seller notes, subject to customary adjustments and regulatory approvals. Closings are expected in stages through 2026 and into 2027. The deal could add up to 25 dispensaries, one cultivation site and one production asset, taking Vireo’s pro forma footprint to about 230 dispensaries and operations in 15 states, which Vireo said would create the second-largest U.S. dispensary network. The transaction was unanimously approved by Vireo’s board and Cannabist’s special committee and requires a Canadian Court sale approval and vesting order plus state cannabis regulatory approvals. Cannabist is conducting a court-supervised restructuring under CCAA in Canada, with related Chapter 15 proceedings recognized in the U.S.
Vireo Growth (CSE: VREO, OTCQX: VREOF) has completed its previously announced acquisition of all issued and outstanding membership interests of FarmX, LLC d/b/a PhytoNatural, jointly with Vive Penn, a joint venture between Vireo and Hive Holdings. The deal was executed under a Securities Purchase Agreement referred to as the PhytoNatural Transaction.
The acquisition includes a non-operational Pennsylvania medical cannabis retail permit that, subject to regulatory approvals, authorizes operation of up to six dispensaries in the state. Total consideration was $20.0 million, comprising $8.0 million in cash paid at closing by Vive and approximately $12.0 million to be satisfied by issuing about 645,161 Vireo subordinate voting shares at a deemed price of $18.60 per share, two years after closing, in line with the SPA terms.
Vireo Growth (CSE: VREO, OTCQX: VREOF) engaged Independent Trading Group (ITG) to provide market-making services under Canadian Securities Exchange policies and securities laws.
ITG will trade Vireo subordinate voting shares on the CSE and other venues to maintain a reasonable market and support liquidity objectives, starting around July 7, 2026.
Vireo Growth (CSE: VREO, OTCQX: VREOF; Symbol: VREOD) agreed to acquire, with joint venture Vive Penn, all membership interests of FarmX d/b/a PhytoNatural, which holds a non-operational Pennsylvania retail permit. The deal, valued at about $20 million, supports expansion into Vireo’s 11th state.
Consideration includes $8 million cash at closing from Vive and $12 million in about 645,161 Vireo subordinate voting shares issued two years after closing. The permit could allow up to six medical dispensaries, subject to regulatory approvals and customary closing conditions.
Vireo Growth (CSE:VREO, OTCQX:VREOD) closed its previously announced acquisition of an indirect 49% equity interest in HA-MD, LLC, owner of two Maryland dispensaries. Total consideration is $1.55 million, paid via cash, an interest-bearing promissory note, and issuance of 37,035 shares at a deemed price of $20.25.