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Vireo Growth ( (TSE:VREO) ) has issued an announcement.
Vireo Growth Inc. announced it will acquire an additional tranche of senior secured convertible notes of Medicine Man Technologies Inc. (dba Schwazze) from third-party noteholders, representing approximately $2.6 million in principal and accrued interest, for about $1.6 million in subordinate voting shares priced at $0.54 each. Following closing, expected later this month subject to customary conditions and regulatory approvals, Vireo will hold roughly 89% of Schwazze’s outstanding senior secured convertible notes, further consolidating its creditor position and potentially increasing its strategic influence over Schwazze’s capital structure, while existing Vireo shareholders will see equity dilution from the share-based consideration subject to standard Canadian resale restrictions.
More about Vireo Growth
Founded in 2014 as a pioneering medical cannabis company, Vireo Growth Inc. operates a disciplined, strategically aligned platform focused on local markets while leveraging a national portfolio in the cannabis industry. The company emphasizes capital efficiency, operational execution, and long-term value creation for customers, employees, shareholders, industry partners, and the communities it serves.
Average Trading Volume: 64,466
Technical Sentiment Signal: Buy
Current Market Cap: C$958.2M
See more insights into VREO stock on TipRanks’ Stock Analysis page.