[PRESS RELEASE] – MINNEAPOLIS, Dec. 16, 2025 – Vireo Growth Inc. announced that it and its subsidiary, Vireo Health Inc., have entered into an asset purchase agreement (APA) to acquire certain retail assets and properties of PharmaCann Inc. in Colorado. The transaction will expand Vireo’s position in Colorado’s adult-use retail market to 41 total active dispensaries, and is subject to satisfaction of closing conditions and state and local regulatory approvals.
Total consideration for the acquired assets and property will be approximately $49 million, payable in subordinate voting shares of the company at closing, as well as the assumption of certain liabilities. The share consideration payable in the transaction will be subject to adjustment based on inventory levels and trade payables of the acquired dispensaries, as well as the occurrence of certain other events by the closing date. The share consideration will be subject to customary resale restrictions under Canadian securities law and a hold period under the rules of the Canadian Securities Exchange.
Vireo also announced that one of Vireo’s subsidiaries has entered into a management services agreement with the sellers pursuant to which one of Vireo’s subsidiaries will provide management services to operate the acquired dispensaries through closing, upon necessary regulatory approvals. The transaction is expected to close during the first half of calendar year 2026.
Vireo CEO John Mazarakis said, “We are pleased to announce this transaction, which reflects the continuation of our strategy to continue growing our business through accretive M&A. This transaction will complement our other recently acquired assets in Colorado.”
