[PRESS RELEASE] – MINNEAPOLIS, July 17, 2026 – Vireo Growth Inc. announced that it has completed its previously announced acquisition of all of the issued and outstanding limited liability company membership interests of FarmX LLC, d/b/a PhytoNatural, jointly with Vive Penn LLC, a joint venture between the Company and Hive Holdings Inc., pursuant to the previously announced securities purchase agreement (SPA) (the "PhytoNatural transaction").
The acquisition includes a nonoperational Pennsylvania medical cannabis retail permit that, subject to applicable regulatory approvals, authorizes the operation of up to six dispensaries in the commonwealth.
Total consideration for the PhytoNatural Transaction was $20 million, consisting of $8 million paid in cash by Vive at closing and approximately $12 million payable through the issuance of approximately 645,161 Vireo subordinate voting shares at a deemed issue price of $18.60 per share, to be issued two years following the closing date, in accordance with the terms of the SPA.
