American Cannabis News

Vireo To Buy Eaze for $47 Million in Stock – New Cannabis Ventures

Published

5 months ago

December 23, 2025

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Vireo To Buy Eaze for $47 Million in Stock – New Cannabis Ventures

Vireo Growth Inc. enters California and Florida and strengthens delivery platforms with acquisition of Eaze Inc.

The deal will expand Vireo’s operating footprint to 10 states with 166 dispensaries and approximately 800,000 square feet of cultivation and manufacturing.
The acquisition will also add 14 dispensaries to the company’s retail footprint in Colorado
Eaze’s delivery platform will strengthen the company’s IP portfolio with a strong presence in California

MINNEAPOLIS, Dec. 22, 2025 (GLOBE NEWSWIRE) — Vireo Growth Inc. (“Vireo”) (CSE: VREO; OTCQX: VREOF) (“Vireo” or the “Company”) announced today that it has entered into a definitive agreement to acquire. Eaze Inc. (“Eaze”), a vertically integrated cannabis retail and delivery technology platform with operations in California, Florida and Colorado. Eaze has 65 active retailers and has completed over 12 million shipments.

The deal marks Vireo’s entry into two of the nation’s largest hemp markets, California and Florida. Eaze has a strong presence in delivery sales in California with four co-located retail and delivery locations and eight delivery-only locations covering most of the state’s major metropolitan areas. In Florida, Eaze is currently the sixth largest retailer with 39 active stores and approximately 64,000 square feet of development space with significant expansion capacity. Finally, the deal will expand Vireo’s retail presence in Colorado with 14 additional dispensaries, bringing the total Colorado footprint to 55 stores. Upon closing, Vireo’s portfolio of cannabis brands and assets will span a total of 10 states with 166 active retail dispensaries and approximately 800,000 sq.ft.

The transaction will be completed through a planned merger whereby Eaze will become a wholly owned subsidiary of Vireo. The total transaction amount includes a base consideration of approximately $47.0 million, payable through the issuance of approximately 84 million of the Company’s subordinated voting shares, closing at an assumed issue price of $0.56 per share. The total amount payable in the transaction is subject to adjustment based on closing levels of cash, debt, tax liabilities and working capital adjustments, as well as the occurrence of certain other events prior to the closing date. The Share Redemption is subject to a normal holding period under the rules of the Canadian Stock Exchange (the “Exchange”). Completion of the transaction is subject to customary conditions, including receipt of necessary approvals, and is expected to close in the first half of calendar year 2026.

Eaze may be entitled to a gain consideration as of December 31, 2026, calculated as 3.84x Adjusted EBITDA, less closing consideration and adjusted for incremental debt, with any such gain payable in subordinated voting shares of the Company at an assumed price equal to the average price of $205 and the higher of the December 205 price. 31, 2026, subject to Exchange pricing policy.

Each of the Eaze sellers has entered into voluntary share lock-up agreements under which the shares will be subject to transfer restrictions for an aggregate period ending on March 1, 2028. Under these agreements, 20% of the shares will be released on March 17, 2027, September 22, 2020, September 2, 2020, June 21, 2020. 1, 2027 and March 1, 2028, the remaining shares are subject to closing from closing to the applicable issuance date.

Chief Executive Officer John Mazarakis commented: “We are excited to announce the arrival of Eaze and Vireo in California and Florida. The addition of Eaze provides immediate scale in two of the nation’s largest cannabis markets and strengthens our position in Colorado.”

Joining Vireo marks an exciting next chapter for Eaze. Our shareholders and teams share a common vision of building scalable, best-in-class operations, and together we are well positioned to enhance the retail and delivery experience for customers in every market we serve.

Cory Azzalino, Chief Executive Officer, Eaze Inc

About Vireo Growth Inc

Vireo was founded in 2014 as a leading medical cannabis company. Vireo is building a disciplined, strategically aligned and execution-focused platform in the industry. This strategy drives our intense local market focus while leveraging the strength of the national portfolio. We are committed to hiring industry leaders and deploying capital and talent where we believe it will deliver the most value. Vireo operates with a long-term mindset, an action bias, and an unwavering commitment to its customers, employees, shareholders, industry partners, and the communities it serves. For more information on Vireo, visit www.vireogrowth.com.

Original press release

Published by NCV Newswire

New Cannabis Ventures’ NCV Newswire aims to gather high-quality content and information about leading cannabis companies to help our readers filter through the noise and stay on top of the most important cannabis business news. The NCV Newswire is edited by an editor and is not, however, automated. Got a secret news tip? Get in touch.

Related Topics:Buy Cannabis Eaze Million Stock Ventures Vireo

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Cannabis Stock Q1 Financial Reports Were Not the Story – New Cannabis Ventures

Published

7 days ago

May 15, 2026

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Cannabis Stock Q1 Financial Reports Were Not the Story – New Cannabis Ventures

You are reading this week’s edition of New Cannabis Ventures, a weekly magazine we have published since October 2015. The newsletter includes unique insight to help our readers stay ahead of the curve, as well as links to the most important news of the week. We no longer email them like we used to, but post this and all newsletters on our website here.

friends,

Many more cannabis companies reported Q1 financials this week. While NCV did not run any of those press releases, all data has been updated in the New Cannabis Ventures Public Cannabis Company Revenue & Income Tracker. The largest companies reporting in US dollars all reported, and the eleven companies that reported for the Q1 ended in March (excluding Tilray Brands, which is due to report its Q4 later this month) saw an average year-over-year revenue increase of 31% in their cannabis businesses.

Excluding Vireo Growth, that average comes to -0.7%, which is lower, especially after accounting for inflation, and a sign of continued challenges for the hemp industry. Speaking of Vireo, I’ve pointed out how investors didn’t care, and they still don’t. An average of just 375,000 shares traded per day over the past month, and the stock, which closed at $0.415, continues to trade off the level of its late 2024 capital raise and the price at which the company issued shares to make multiple acquisitions.

April was a big month for hemp stocks, but prices fell in May. The NCV Global Cannabis Stock Index rose 8.8% to 5.70 in April, but fell 2.8% to 5.54 in May. The year-to-year change of this index, which now covers 23 stocks, was -15.9%. Since its peak in early 2021, the GCSI is down 94%. Many are excited about the medical cannabis realignment that took place in April, although it remains unclear whether cannabis will be completely overhauled. The Department of Justice will hold hearings in late June to discuss adult-use cannabis, and it could be. If so, 280E tax would be removed, and this would be very good. I’ve written a lot about this since late 2022 when I highlighted it The potential end of 280E as a major catalyst.

The investor base in cannabis stocks has shrunk due to capital losses and fewer people interested in the sector. Institutions were more interested in high prices and maybe they would enter the field. 280E remains a big story, and not only is it being delayed by the limited realignment that’s already been completed, it’s unclear how unpaid taxes from the last few years will be treated.

NCV has stopped publishing most cannabis news, although we continue to update the financial calendar as well as the earnings rankings. After more than 10 years with NCV and more than a dozen years with 420 Investor, I am in the process of moving on. This is probably the last weekly newsletter. I’ve appreciated sharing the news and my views here, and I want to wish everyone the best. Hopefully, 280E taxation will be fully completed and the bear market that began in early 2021 for the hemp sector will be over.

Sincerely,

Alan:

Contact us acquire NCV assets or a website domain

New Cannabis Ventures publishes curated articles as well as exclusive news. Here is what we published last week.

Exclusives

Michigan cannabis sales are down again

View: Public Hemp Company Revenue and Earnings Trackingwhich ranks the highest-earning hemp stocks.

Stay on top of the most important communications from public companies by watching what’s coming cannabis investor calendar.

Based in Houston, Alan leverages his experience as an online community founder 420 Investorthe first and still the largest due diligence platform focused on publicly traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. time New Cannabis Ventureshe is responsible for content development and strategic alliances. Before turning his attention to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst with more than two decades of research and portfolio management experience. A prolific writer, with over 650 articles published since 2007 Looking for Alphawhere he has 70,000 followers, Alan is a frequent speaker at industry conferences and frequent source Media including the NY Times, Wall Street Journal, Fox Business and Bloomberg TV. Contact Alan. Twitter: |: Facebook |: LinkedIn: |: El

aawh

Michigan Cannabis Sales Fell Yet Again – New Cannabis Ventures

Published

1 week ago

May 13, 2026

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Michigan Cannabis Sales Fell Yet Again – New Cannabis Ventures

Michigan April hemp sale decreased compared to a year ago, as they increased sequentially by 1.2%. At $258.6 million, sales decreased by 4.3 percent compared to last year.

Michigan’s cannabis regulatory agency breaks down sales by medical and adult use, with medical sales down 24.1% year-over-year to $0.4 million, down 5.6% sequentially, and adult-use sales down 4.3% year-over-year to $255.5 million, despite a one-day increase of 1.2% in March.

The state breaks down sales by category and provides pricing details by category for both medical and adult;

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Cannabis Stocks Are Going Nowhere Quickly – New Cannabis Ventures

Published

2 weeks ago

May 7, 2026

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Cannabis Stocks Are Going Nowhere Quickly – New Cannabis Ventures

friends,

The New Cannabis Ventures Global Cannabis Stock Index edged up slightly in May, rising 1.1% to 5.76. Compared to the previous year, it decreased by 12.6%. The index, recalculated as of the end of the first quarter, is up 9.9% so far in the second quarter, lagging the S&P 500’s 12.8% gain. Here are the earnings of the 23 names currently in the index (SMG was dropped in late April after the sale of Hawthorne Gardening):

MSOs are very much higher as the rally approaches the discussion of the big transformation announcements on 4/22 and beyond. There are currently six MSOs and two of them have been promoted. The rest rose, and the average of the six was 38.1%. The AdvisorShares Pure US Cannabis ETF ( MSOS ) has rallied 48.5% since the end of March and is now up 11.7% year-to-date in 2026. Both GCSI names have fallen sharply, and the index has a total of seven double-digit gains in Q2, with six MSOs and Canopy holding investments. 14 of the 23 names returned less than GCSI.

As readers are probably aware, the US reclassified medical cannabis from Schedule I to Schedule III on 4/23, and that will go away. 280E tax for some of the businesses of cannabis companies. The Department of Justice will hold a hearing in late June to determine possible rezoning for adult use. If it passes, all 280E taxation will end, which is a good thing for cannabis companies and their investors, as well as the subsidiaries that serve them. It is not yet known what the outcome will be, and it is not yet known how past 280E taxes that have not been paid but are carried as liabilities (and not debt) will be handled. Also, there is no conclusion yet on SECURITY banking or the possibility of a raise.

NCV has stopped publishing news, although we continue to update the financial calendar as well as the earnings rankings. After more than 10 years with NCV and more than a dozen years with 420 Investor, I am in the process of moving on. I’ve appreciated sharing the news and my views here, and I want to wish everyone the best. Hopefully, the 280E taxation will end and the bear market that started in early 2021 for the hemp sector will come to an end.

Sincerely,

Alan:

This week’s newsletter is sponsored by the Paul E. Saperstein Co.

Massachusetts hemp production equipment for sale

On May 12, Middlesex Integrative Medicine, Inc.’s equipment is being auctioned online in Leominster, Massachusetts at 10:00 a.m. ET. All applications must be submitted online. Learn more Of the secured party’s sale of all assets of this cultivation equipment.

Interested parties may contact Paul Cotto at 617-227-6553 or email pcotto@pesco.com:.

New Cannabis Ventures publishes curated articles as well as exclusive news. Here is what we have published in the last 2 weeks.

Exclusives

Sales of Canadian hemp continued in February

View: Public Hemp Company Revenue and Earnings Trackingwhich ranks the highest-earning hemp stocks.

Stay on top of the most important communications from public companies by watching what’s coming cannabis investor calendar.