Growth, Indeed! Vireo Growth Inc. Announces $75 Million Financing and Acquisitions of Four Single State Operators

Vireo Growth Inc. (CSE: VREO; OTCQX: VREOF) announced it has signed definitive agreements to acquire Proper Brands in Missouri, Deep Roots Harvest in Nevada, the proprietary cannabis delivery and analytics platform “Arches,” and WholesomeCo Cannabis in Utah, while also signing a binding MOU to acquire The Flowery in Florida. Closing of the transactions will be subject to state regulatory approvals, which may take months. 

The deals were a series of all-stock transactions for total consideration of approximately $397 million. Vireo also announced a $75 million equity securities financing at $0.625 per Vireo subordinate voting share.

After closing, Vireo will have a combined total footprint spanning seven states (Minnesota, Maryland, New York, Missouri, Nevada, Utah, and Florida), approximately 1,043,500 square feet of cultivation and manufacturing space across nine facilities, and 48 retail dispensaries.

Vireo is one of two vertically integrated operators in the State of Minnesota and is expected to receive its dual medical and adult-use combination license in Q2 2026 when the state's adult-use program begins.