Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Vireo Growth ( (TSE:VREO) ) has issued an announcement.
Vireo Growth Inc. has announced the acquisition of senior secured convertible notes of Medicine Man Technologies Inc., known as Schwazze, a multi-state cannabis operator. This acquisition is part of a Restructuring Support Agreement aimed at reorganizing Schwazze’s operations and capital structure, potentially leading to Vireo gaining control over Schwazze’s assets. The transaction, valued at approximately $62 million, positions Vireo to expand its portfolio with Schwazze’s 63 dispensaries and 10 manufacturing facilities in Colorado and New Mexico. The restructuring plan includes an asset sale to a new entity majority-owned by Vireo, with the aim of enhancing Vireo’s market position and operational capabilities in the cannabis industry.
The most recent analyst rating on (TSE:VREO) stock is a Hold with a C$0.55 price target. To see the full list of analyst forecasts on Vireo Growth stock, see the TSE:VREO Stock Forecast page.
More about Vireo Growth
Vireo Growth Inc., founded in 2014, is a pioneering medical cannabis company focused on building a disciplined and strategically aligned platform in the industry. The company emphasizes a strong local market focus while leveraging a national portfolio, and is committed to hiring industry leaders and deploying capital to drive value. Vireo operates with a long-term mindset and is dedicated to its customers, employees, shareholders, industry collaborators, and the communities it serves.
Average Trading Volume: 75,616
Technical Sentiment Signal: Buy
Current Market Cap: C$911.8M
For a thorough assessment of VREO stock, go to TipRanks’ Stock Analysis page.