MINNEAPOLIS — Vireo Growth Inc. has entered into definitive agreements to acquire approximately 86% of the outstanding senior secured convertible notes of public U.S. multistate cannabis operator Medicine Man Technologies Inc. (dba “Schwazze”) from third-party noteholders. The Notes will be acquired at a price substantially below par value, for total consideration of approximately $62 million payable in subordinate voting shares of the Company at closing, at a deemed price per share of $0.54.
The transaction is expected to close later this month. Completion of the transaction is subject to customary conditions, including receipt of necessary approvals.
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