MINNEAPOLIS — Vireo Growth Inc. and its subsidiary Vireo Health Inc. have entered into an agreement to acquire retail assets and properties of PharmaCann Inc. in Colorado. The transaction will expand Vireo’s position in Colorado’s adult-use retail market to 41 total active dispensaries, and is subject to satisfaction of closing conditions and state and local regulatory approvals.
Total consideration for the acquired assets and property will be approximately $49.0 million, payable in subordinate voting shares of the company at closing, as well as the assumption of certain liabilities. The share consideration payable in the transaction will be subject to adjustment based on inventory levels and trade payables of the acquired dispensaries, as well as the occurrence of certain other events by the closing date. The share consideration will be subject to customary resale restrictions under Canadian securities law and hold period under the rules of the Canadian Securities Exchange.
A second Vireo subsidiary signed a management services agreement with the sellers under which the Vireo subsidiary will provide management services to operate the acquired dispensaries through closing, upon necessary regulatory approvals. The transaction is expected to close during the first half of calendar year 2026.
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