Vireo Growth, Verano Holdings announces resolution of litigation matters

Vireo Growth (VREOF) and Verano Holdings (VRNOF) announced that they have reached a comprehensive settlement dismissing all outstanding litigation matters between the two Companies that are pending before the Supreme Court of British Columbia, Canada. The terms of the Settlement Agreement were approved by the respective Boards of Directors of both Companies. The value of the settlement to Vireo is approximately $10M consisting of the acquisition of certain real estate assets and $1M in cash. The resolution marks the conclusion of a complex legal chapter and reflects a commitment by both Companies to move forward in a constructive manner. Both Companies reiterated their dedication to delivering long-term value to their shareholders and quality products and services to their customers. In a joint statement, the Companies said, “This settlement allows both Vireo and Verano to focus fully on their respective strategic priorities without the distraction of ongoing litigation between the parties.”