VIREO GROWTH INC - VREOF STOCK NEWS

Vireo Growth reported Q3 2024 financial results with revenue of $22.4 million (excluding discontinued operations and NY), up 6.2% year-over-year. Operating income reached $3.9 million, though showing a 34.4% decline from Q3 2023. The company secured a $10.0 million convertible debt facility with a 12% interest rate and $0.625 conversion price. Core market performance showed improvements in productivity yields and flower quality, with total flower harvested increasing 32.7% to 4,626 lbs. Same-store sales grew 2.0%, with Maryland up 12.1% while Minnesota declined 3.4%. The company maintains $7.3 million in cash with total current assets of $144.0 million.

Vireo Growth has secured a new $10 million convertible debt facility funded by its senior secured lender. The three-year facility features a 12% cash interest rate, payable monthly, with notes convertible into Subordinate Voting Shares at $0.625. The financing will support capital expenditure, working capital needs, and general corporate purposes, particularly as the company prepares for the launch of adult-use cannabis sales in Minnesota next year. No warrants will be issued with this facility, and the transaction qualifies as exempt from formal valuation and minority shareholder approval requirements under MI 61-101.

Vireo Growth Inc. announced it will release its third quarter 2024 financial results on November 13, 2024, after market close. The company will host a conference call with investors at 4:30 p.m. ET (3:30 p.m. CT) on the same day. Participants can join via phone using toll-free number 1-800-715-9871 (US/Canada) or 1-646-307-1963 (International) with conference ID 3718174. A live audio webcast will be available on the company's Investor Relations website.

Vireo Growth Inc. (CSE: VREO; OTCQX: VREOF) announced key leadership changes. Amber Shimpa, a long-time company executive, has been promoted to Chief Executive Officer, effective immediately. Josh Rosen has resigned from his roles as CEO, interim CFO, and Board member to focus on other ventures, but will remain as a consultant. Joe Duxbury has been appointed Interim Chief Financial Officer.

Executive Chairman Kyle Kingsley expressed confidence in Shimpa's leadership, while Shimpa voiced excitement about leading Vireo into the future, particularly with the upcoming launch of adult-use sales in Minnesota. The company also announced the termination of its advisory agreement with Grown Rogue International, Inc., effective September 30, 2024, forfeiting 4.5 million of 8.5 million Grown Rogue warrants received as part of the agreement.

Vireo Growth Inc. (CSE: VREO; OTCQX: VREOF) reported strong Q2 2024 results, with revenue of $22.5 million (excluding discontinued operations and NY), up 42.5% year-over-year. The company achieved an operating income of $5.8 million and an EBITDA of $8.1 million. Gross profit margin improved to 54.0%, up 780 basis points from the previous year. Vireo recently extended its credit facility, supporting its CREAM & Fire strategy. The company activated recreational wholesale sales in New York and is preparing for adult-use sales in Minnesota next spring. Vireo also completed a private placement, changed its name from Goodness Growth Holdings, and announced the conversion of outstanding convertible notes by Chicago Atlantic.

Vireo Growth Inc. (CSE: VREO; OTCQX: VREOF) has announced significant financial developments:

1. A 30-month extension of its credit agreement with Chicago Atlantic, extending the maturity date to January 29, 2027.

2. Voluntary conversion of all outstanding convertible notes by Chicago Atlantic, resulting in the issuance of approximately 73 million Subordinate Voting Shares.

3. Expected interest expense savings of $2.3 million due to early debt conversion.

4. Issuance of 12.5 million Subordinate Voting Shares to lenders for the credit facility amendment.

These developments aim to strengthen Vireo's financial position and support its growth initiatives, particularly in light of upcoming adult-use sales in Minnesota.

Vireo Growth Inc. (CSE: VREO; OTCQX: VREOF), a cannabis company, has announced the release of its second quarter 2024 financial results on August 6, 2024, after market close. The company will host a conference call with investors on the same day at 4:30 p.m. ET to discuss the results. Interested parties can join the call by dialing 1-800-715-9871 (US and Canada, Toll-Free) or 1-646-307-1963 (International, Toll) with conference ID 3718174. A live audio webcast will also be available on the company's Investor Relations website.

Vireo Growth, formerly Goodness Growth Holdings, has announced that its subordinate voting shares will start trading under new ticker symbols from today, July 8, 2024. The shares will be listed as 'VREO' on the Canadian Securities Exchange (CSE) and as 'VREOF' on the OTCQX Market in the United States. This change aligns with the company's rebranding efforts and commitment to providing safe access, quality products, and great value to its customers.

Vireo Health International, Inc. announced a corporate name change to Goodness Growth Holdings, effective June 9, 2021, along with its Horizon Strategy for fiscal year 2022. The company anticipates FY22 revenue of $140 million to $180 million and adjusted EBITDA of $35 million to $55 million. It plans to open 6-10 additional Green Goods™ dispensaries and begin adult-use sales in New Mexico and New York in 2022. Vireo had approximately $40 million in cash as of March 31, 2021, and projects positive cash flow from operations in the first half of 2022.