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Vireo Growth ( (TSE:VREO) ) has provided an update.
Vireo Growth Inc. has entered into definitive agreements to acquire approximately 86% of the outstanding senior secured convertible notes of Medicine Man Technologies Inc., a U.S. multi-state cannabis operator known as Schwazze. This acquisition, valued at approximately $62 million and payable in subordinate voting shares, aligns with Vireo’s M&A strategy and is expected to close later this month, subject to customary conditions and necessary approvals. The transaction reflects Vireo’s strategic efforts to enhance its market position in the cannabis industry, potentially impacting its operations and stakeholder interests by expanding its influence and financial leverage in the market.
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 cannabis industry. The company emphasizes a strong local market focus while leveraging a national portfolio, hiring industry leaders, and deploying capital and talent to drive value. Vireo operates with a long-term mindset and is committed to its customers, employees, shareholders, industry collaborators, and the communities it serves.
Average Trading Volume: 72,100
Technical Sentiment Signal: Buy
Current Market Cap: C$769.3M
See more insights into VREO stock on TipRanks’ Stock Analysis page.