Recent Updates — VREOD
Vireo Growth Inc.'s indirect subsidiaries entered into a $60,000,000 term loan with Needham Bank on October 2, 2026. The proceeds were used to refinance approximately $49 million of existing senior debt held by IIP-NY and to finance the acquisition of a cultivation facility in Palatka, Florida. The loan bears interest at a fixed rate of 8.50% per annum, requires monthly interest-only payments for the first six months followed by principal and interest amortization over ten years, and matures on April 2, 2034. The debt is secured by first-priority mortgages on properties in New York and Florida. Vireo Growth Inc. operates as a vertically integrated cannabis company with cultivation, manufacturing, retail, and distribution businesses across the United States.
Vireo Growth Inc. completed the acquisition of all outstanding shares of C21 Investments Inc., a vertically integrated cannabis company, on August 21, 2026. The transaction was effected via a court-approved statutory plan of arrangement under British Columbia law. In exchange for each C21 share, holders received 0.023052 subordinate voting shares of Vireo, resulting in the issuance of 2,766,409 new Vireo shares. The acquisition adds three Silver State Relief dispensaries and approximately 104,000 square feet of cultivation capacity to Vireo's Nevada operations. C21 shares were delisted from the Canadian Securities Exchange and OTCQX Market upon closing. Vireo Growth Inc. operates as a vertically integrated cannabis company building a platform across cannabis and adjacent agricultural markets.
On August 7, 2026, Vireo Growth Inc. completed the acquisition of certain Colorado retail cannabis assets from PharmaCann Inc. for approximately $48.7 million to $49.0 million in consideration, consisting of the issuance of 3,004,751 subordinate voting shares and the assumption of liabilities. The transaction includes 17 dispensary locations, expanding Vireo's Colorado retail footprint to 56 operational sites. Simultaneously, the company entered into a senior secured asset-based revolving credit facility with Bank of Montreal providing up to $85 million in aggregate commitments, expandable to $105 million, maturing on August 7, 2031. Proceeds will be used to refinance existing indebtedness and fund working capital and acquisitions. Vireo Growth Inc. is a vertically integrated cannabis company operating cultivation, manufacturing, retail dispensaries, and agricultural supply businesses across the United States.
Vireo Growth Inc. reported Q2 2026 GAAP revenue of $209.3 million, a 335% year-over-year increase driven by recent acquisitions including Hawthorne, Eaze, and Bridgewell. The company announced a definitive merger agreement with Planet 13 Holdings Inc., an all-stock transaction to acquire cultivation, processing, and retail operations in Nevada, Illinois, and Florida. Subsequent to the quarter end, Vireo completed the acquisition of PharmaCann assets in Colorado, entered Pennsylvania via PhytoNatural licenses, and announced acquisitions in Ohio, Massachusetts, New Jersey, and Illinois. The company also established a $65 million asset-based revolving credit facility, expandable to $105 million, and closed with $122.7 million in cash. Vireo Growth Inc. is a vertically integrated cannabis company operating cultivation, manufacturing, retail dispensaries, and agricultural supply businesses across the United States.
Vireo Growth Inc. through its subsidiary Vireo Health of Arcadia, LLC, entered into a definitive purchase agreement to acquire cannabis cultivation, manufacturing, and retail operations from The Cannabist Company Holdings Inc. (formerly Columbia Care) across five markets: Colorado, Illinois, Massachusetts, New Jersey, and West Virginia. The total consideration is up to $35 million, consisting of up to $18.75 million in cash and up to $16.25 million in seller notes. The transaction is expected to close in stages through 2026 and 2027, subject to regulatory approvals and Canadian court approval. Vireo Growth Inc. is a vertically integrated cannabis company operating cultivation, manufacturing, retail dispensaries, and agricultural supply businesses.