Vireo Growth Inc. and Verano Holdings Corp. Announce Resolution of Litigation Matters

Executive Summary

• Vireo Growth Inc. and Verano Holdings Corp. have entered into a comprehensive settlement agreement resolving all pending litigation between the two companies in British Columbia.
• The settlement provides Vireo with approximately US $10 million of value, consisting of the acquisition of specific real estate assets and a cash payment of US $1 million.
• Both boards approved the agreement, allowing each company to refocus on its strategic priorities without litigation distraction.

Key Details

• Settlement Value to Vireo: ~US $10 million total (real‑estate assets + US $1 million cash).
• Assets Transferred: Specific real estate assets (details not disclosed in the release) transferred from Verano to Vireo.
• Cash Component: US $1 million payable to Vireo upon closing of the settlement.
• Legal Scope Resolved: All outstanding litigation matters between Vireo and Verano pending before the Supreme Court of British Columbia, Canada, are dismissed.
• Board Approval: The Settlement Agreement was approved by the Boards of Directors of both Vireo Growth Inc. and Verano Holdings Corp.
• Strategic Impact: Both companies state the settlement enables them to concentrate fully on their respective strategic priorities and deliver long‑term shareholder value.

Notable Quotes

“This settlement allows both Vireo and Verano to focus fully on their respective strategic priorities without the distraction of ongoing litigation between the parties.” – Joint statement from Vireo Growth Inc. and Verano Holdings Corp.