In a significant move for the cannabis industry, Vireo Growth Inc. has announced a $75 million equity financing at a share price of $0.625.

This landmark acquisition positions Vireo as a major player with an enhanced balance sheet, setting the stage for a robust expansion across multiple states.

Major Expansion in Cannon

The transactions will widen Vireo's operational reach to seven states, encompassing 9 cultivation facilities and 48 dispensaries.

The company is poised to see its proforma revenue soar to approximately $394 million in 2024, with an expected EBITDA of around $94 million.

Acquiring four single-state cannabis operators adds significant value and operational expertise to Vireo's portfolio.

Confirmed acquisitions include:

- Proper Brands (Missouri)

- Deep Roots Harvest (Nevada)

- WholesomeCo Cannabis (Utah)

- A pending agreement for The Flowery (Florida)