[PRESS RELEASE] – MINNEAPOLIS, March 30, 2026 – Vireo Growth Inc. announced an update on its previously disclosed asset purchase agreement (APA) to acquire certain retail assets and properties of PharmaCann Inc. in Colorado.
On Dec. 16, 2025, the company announced entry into the APA and a management services agreement (MSA), pursuant to which the company’s affiliate will provide certain affiliates of PharmaCann with certain management services related to PharmaCann’s retail assets in Colorado until the closing date.
The company announced that the MSA became effective on March 22, and, pursuant to the terms of the APA, the company delivered 90,740,741 subordinate voting shares of the company from treasury into escrow with Odyssey Trust Co. as escrow agent. Such subordinate voting shares are being held and shall remain in escrow until their release and delivery upon the close of the asset acquisition, which is expected to occur in the second fiscal quarter of 2026, subject to regulatory approval.
Viero CEO John Mazarakis said, “We are excited to announce that Vireo’s MSA is effective, allowing the Vireo Colorado team to manage the PharmaCann Colorado assets in the interim period between signing and closing.”
