Vireo Growth Inc. announced the acquisition of additional outstanding senior secured convertible notes of Medicine Man Technologies Inc. (dba 'Schwazze').
The acquired notes have a total outstanding principal plus accrued interest of approximately $2.6 million.
Vireo will acquire the notes at a substantial discount to par value for approximately $1.6 million payable in subordinate voting shares of the Company at $0.54 per share.
Acquisition Details
Vireo will acquire approximately 89% of the outstanding senior secured convertible notes of Schwazze.
Transaction Completion
The closing of the transaction is expected later this month, subject to customary conditions and necessary approvals.
Share Consideration
The share consideration for the acquisition will be subject to resale restrictions under Canadian securities law and hold period regulations.
- The acquisition of the notes strengthens Vireo's position in the industry and expands its investment portfolio.
- This strategic move exemplifies Vireo's commitment to strategic growth and value creation for shareholders.
Vireo Growth Inc.'s acquisition of the senior secured convertible notes of Schwazze marks a significant step in expanding its investment foothold and strategic positioning in the industry.