Vireo Growth Inc. Files Definitive Information Circular and Provides Merger Transaction Updates
Vireo Growth (CSE: VREO; OTCQX: VREOF) has announced key updates regarding its previously-announced Merger Transactions, expected to close in Q2 2025. The company has filed its Definitive Information Circular on March 21, 2025, which includes proforma financial information for the combined company and audited financial data for 2023-2024 for all merger targets.
The company has secured required shareholder approval through written consent for the Merger Transactions and the issuance of Subordinate Voting Shares (SV Shares) as consideration. The issuance is significant as it will exceed 100% of the company's total outstanding voting equity shares.
Regulatory approvals have been obtained for the Utah transactions, including Wholesome Cannabis and the Arches technology platform. The Missouri and Nevada transactions are progressing as planned for Q2 2025 closure, pending CSE approval and satisfaction of customary closing conditions.
Vireo Growth (CSE: VREO; OTCQX: VREOF) ha annunciato aggiornamenti chiave riguardo alle sue precedentemente annunciate Transazioni di Fusione, che si prevede si chiuderanno nel secondo trimestre del 2025. L'azienda ha presentato il suo Circolare Informativa Definitiva il 21 marzo 2025, che include informazioni finanziarie pro forma per l'azienda combinata e dati finanziari auditati per il 2023-2024 per tutti gli obiettivi di fusione.
L'azienda ha ottenuto l'approvazione degli azionisti necessaria attraverso il consenso scritto per le Transazioni di Fusione e l'emissione di Azioni di Voto Subordinate (SV Shares) come corrispettivo. L'emissione è significativa in quanto supererà il 100% delle azioni di capitale di voto totali in circolazione dell'azienda.
Le approvazioni regolatorie sono state ottenute per le transazioni in Utah, inclusi Wholesome Cannabis e la piattaforma tecnologica Arches. Le transazioni in Missouri e Nevada stanno procedendo come previsto per la chiusura nel secondo trimestre del 2025, in attesa dell'approvazione della CSE e della soddisfazione delle condizioni di chiusura abituali.
Vireo Growth (CSE: VREO; OTCQX: VREOF) ha anunciado actualizaciones clave sobre sus Transacciones de Fusión previamente anunciadas, que se espera que se cierren en el segundo trimestre de 2025. La compañía presentó su Circular Informativa Definitiva el 21 de marzo de 2025, que incluye información financiera pro forma para la empresa combinada y datos financieros auditados para 2023-2024 para todos los objetivos de fusión.
La compañía ha asegurado la aprobación de los accionistas requerida a través de consentimiento escrito para las Transacciones de Fusión y la emisión de Acciones de Voto Subordinadas (SV Shares) como contraprestación. La emisión es significativa ya que superará el 100% de las acciones de capital de voto en circulación de la compañía.
Se han obtenido aprobaciones regulatorias para las transacciones en Utah, incluyendo Wholesome Cannabis y la plataforma tecnológica Arches. Las transacciones en Missouri y Nevada están progresando según lo planeado para el cierre en el segundo trimestre de 2025, a la espera de la aprobación de la CSE y la satisfacción de las condiciones de cierre habituales.
비레오 성장 (CSE: VREO; OTCQX: VREOF)은 2025년 2분기에 마감될 것으로 예상되는 이전에 발표된 합병 거래에 대한 주요 업데이트를 발표했습니다. 회사는 2025년 3월 21일에 최종 정보 서한을 제출했으며, 여기에는 결합된 회사의 재무 정보와 2023-2024년 동안의 모든 합병 대상에 대한 감사 재무 데이터가 포함되어 있습니다.
회사는 합병 거래 및 보상으로서의 보통주(SV Shares) 발행에 대한 서면 동의를 통해 필요한 주주 승인을 확보했습니다. 이 발행은 회사의 총 발행 주식의 100%를 초과할 것이기 때문에 중요합니다.
유타 거래에 대한 규제 승인이 확보되었으며, 여기에는 Wholesome Cannabis와 Arches 기술 플랫폼이 포함됩니다. 미주리 및 네바다 거래는 CSE 승인 및 일반적인 종료 조건의 충족을 기다리며 2025년 2분기 마감을 위해 계획대로 진행되고 있습니다.
Vireo Growth (CSE: VREO; OTCQX: VREOF) a annoncé des mises à jour clés concernant ses transactions de fusion précédemment annoncées, qui devraient se clôturer au deuxième trimestre 2025. L'entreprise a déposé son Circulaire d'Information Définitive le 21 mars 2025, qui comprend des informations financières pro forma pour l'entreprise combinée et des données financières auditées pour 2023-2024 pour tous les objectifs de fusion.
L'entreprise a obtenu l'approbation des actionnaires requise par consentement écrit pour les transactions de fusion et l'émission d'Actions de Vote Subordonnées (SV Shares) comme contrepartie. Cette émission est significative car elle dépassera 100 % du total des actions de capital avec droit de vote en circulation de l'entreprise.
Les approbations réglementaires ont été obtenues pour les transactions dans l'Utah, y compris Wholesome Cannabis et la plateforme technologique Arches. Les transactions dans le Missouri et le Nevada avancent comme prévu pour une clôture au deuxième trimestre 2025, sous réserve de l'approbation de la CSE et de la satisfaction des conditions de clôture habituelles.
Vireo Growth (CSE: VREO; OTCQX: VREOF) hat wichtige Updates zu seinen zuvor angekündigten Fusionsgeschäften bekannt gegeben, die voraussichtlich im 2. Quartal 2025 abgeschlossen werden. Das Unternehmen hat am 21. März 2025 seinen endgültigen Informationskreis eingereicht, der pro forma Finanzinformationen für das kombinierte Unternehmen und geprüfte Finanzdaten für 2023-2024 für alle Fusionsziele enthält.
Das Unternehmen hat die erforderliche Aktionärgenehmigung durch schriftliche Zustimmung für die Fusionsgeschäfte und die Ausgabe von nachrangigen stimmberechtigten Aktien (SV Shares) als Gegenleistung gesichert. Die Ausgabe ist bedeutend, da sie 100 % der insgesamt ausstehenden stimmberechtigten Aktien des Unternehmens übersteigen wird.
Die regulatorischen Genehmigungen für die Transaktionen in Utah, einschließlich Wholesome Cannabis und der Arches-Technologieplattform, wurden erteilt. Die Transaktionen in Missouri und Nevada schreiten wie geplant voran, um im 2. Quartal 2025 abgeschlossen zu werden, vorbehaltlich der Genehmigung durch die CSE und der Erfüllung der üblichen Abschlussbedingungen.
- Secured shareholder approval for merger transactions
- Obtained regulatory approvals for Utah operations
- Multiple state expansion across Missouri, Nevada, and Utah
- Significant shareholder dilution expected (over 100% of current shares)
- Merger completion still subject to additional regulatory approvals
- Extended timeline for transaction completion (Q2 2025)
– Filing of Definitive Information Circular and receipt of shareholder approval mark key milestones in closing process –
– Missouri, Nevada and Utah transactions on track to close during the second quarter of 2025 –
MINNEAPOLIS, March 21, 2025 (GLOBE NEWSWIRE) -- Vireo Growth Inc. ("Vireo" or the "Company") (CSE: VREO; OTCQX: VREOF), today announced several updates regarding its previously-announced acquisition transactions (collectively, the “Merger Transactions”), which are now expected to close during the second quarter following satisfaction of customary closing conditions.
On March 21, 2025, the Company filed its Definitive Information Circular with respect to its proposed Merger Transactions. The Circular contains proforma financial information for the combined company as well as 2023 and 2024 audited financial information for each of the various Merger Transaction targets.
The Company further announced that it has received requisite shareholder approval in connection with the Merger Transactions after soliciting shareholder approvals via written consent. The Company was required to seek shareholder approval for the Merger Transactions, as well as the issuance of Subordinate Voting Shares (“SV Shares”) of the Company as consideration in connection therewith, as the aggregate number of SV Shares issuable in the Merger Transactions is projected to constitute more than
The Company is relying on the exemption in Canadian Securities Exchange (“CSE”) Policy 4.6(1)(b) whereby the CSE’s requirement for shareholder approval may be satisfied by a written consent signed by shareholders holding more than
The Company has already obtained required regulatory approvals for its proposed Utah transactions (“Wholesome Cannabis” and the “Arches” technology platform). The Company is working toward satisfying all other customary closing conditions of the Merger Transactions, which it expects to meet during the second quarter.
About Vireo Growth Inc.
Vireo was founded as a pioneer in medical cannabis in 2014 and we are fueled by an entrepreneurial drive that sustains our ongoing commitment to serve and delight our key stakeholders, most notably our customers, our employees, our shareholders, our industry collaborators, and the communities in which we live and operate. We work every day to get better and our team prioritizes 1) empowering and supporting strong local market leaders and 2) strategic, prudent capital and human resource allocation. For more information, please visit www.vireogrowth.com.
Contact Information
Joe Duxbury
Chief Accounting Officer
investor@vireogrowth.com
(612) 314-8995
Forward-Looking Statement Disclosure
This press release contains “forward-looking information” within the meaning of applicable United States and Canadian securities legislation. Forward-looking information contained in this press release may be identified by the use of words such as “should,” “believe,” “estimate,” “would,” “looking forward,” “may,” “continue,” “expect,” “expected,” “will,” “likely,” “subject to,” “transformation,” and “pending,” variations of such words and phrases, or any statements or clauses containing verbs in any future tense and includes, but may not be limited to, statements regarding the Merger Transactions, including the timeline for the closing of the Merger Transactions; shareholder approval of the Merger Transactions; and the regulatory approvals required for the Merger Transactions. These statements should not be read as guarantees of future performance or results. Forward-looking information includes both known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company or its subsidiaries to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements or information contained in this press release. Forward-looking information is based upon a number of estimates and assumptions of management, believed but not certain to be reasonable, in light of management’s experience and perception of trends, current conditions, and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment, and the availability of licenses, approvals and permits.
Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, the reader should not place undue reliance on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to: risks related to the shareholder approval of the Merger Transactions; risks related to regulatory approval of the Merger Transactions; and risk factors set out in the Company’s Form 10-K for the year ended December 31, 2024 and the Company’s information statement regarding the Merger Transactions, both of which are available on EDGAR with the U.S. Securities and Exchange Commission and filed with the Canadian securities regulators and available under the Company’s profile on SEDAR+ at www.sedarplus.ca. The statements in this press release are made as of the date of this release. Except as required by law, we undertake no obligation to update any forward-looking statements or forward-looking information to reflect events or circumstances after the date of such statements.
FAQ
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