Vireo Growth enters definitive deals for Schwazze notes

Executive Summary

• Vireo Growth Inc. entered into definitive agreements to acquire approximately 86 % of the outstanding senior secured convertible notes of Medicine Man Technologies Inc. (doing business as Schwazze).
• The acquisition price is substantially below par, with total consideration of roughly $62 million payable in subordinate voting shares of Vireo at a deemed price of $0.54 per share.
• Transaction expected to close later this month, subject to customary closing conditions and required approvals.

Key Details

• Target Notes: Senior secured convertible notes issued by Medicine Man Technologies Inc. (Schwazze).
• Acquisition Percentage: Approximately 86 % of the outstanding principal amount.
• Purchase Price: Substantially below par value; total consideration ≈ $62 million.
• Form of Consideration: Payment in Vireo Growth’s subordinate voting shares, valued at a deemed price of $0.54 per share.
• Closing Timeline: Anticipated to close later this month (same calendar month as agreement execution).
• Conditions to Closing: Standard customary conditions, including receipt of all necessary regulatory and shareholder approvals.

Notable Quotes

(No direct quotes were provided in the release.)