Vireo Growth Inc. Announces Closing of Acquisition of Assets of Schwazze

Core Insights - Vireo Growth Inc. has successfully completed the acquisition of assets from Medicine Man Technologies, including 24 dispensaries in Colorado, 21 in New Mexico, and one manufacturing facility in each state at an assumed share price of $0.661 [1][2] - The acquisition is part of Vireo's disciplined growth strategy, allowing the company to expand its market presence through established retail operations at an estimated valuation of under 4x pro forma EBITDA [2] - The company aims to build a scaled retail presence in Colorado and New Mexico, potentially growing to over 75 dispensaries over time, depending on market conditions and regulatory approvals [3] Company Strategy - Vireo is focused on a disciplined, strategically aligned, and execution-oriented platform in the cannabis industry, emphasizing local market focus while leveraging a national portfolio [4] - The company is committed to hiring industry leaders and deploying capital where it can drive the most value, operating with a long-term mindset and a commitment to its stakeholders [4] Leadership Changes - Justin Dye has been appointed as Chairman of Vireo's Colorado and New Mexico business, while Forrest Hoffmaster has been announced as the CEO for these regions [1]