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.
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Vireo Growth Announces California Retail Joint Venture with Glass House Brands
MINNEAPOLIS and LONG BEACH, Calif., April 13, 2026 (GLOBE NEWSWIRE) — Vireo Growth Inc. (“Vireo”) (CSE: VREO; OTCQX: VREOF) and Glass House Brands Inc. (“Glass House”) (CBOE CA: GLAS.AU) (CBOE CA: GLAS.WT.U) (OTCQX: GLASF) (OTCQX: GHBWF) today announced a joint venture to build one of the largest and most strategically located cannabis retail platforms in California. Subject to regulatory and certain closing conditions, each company will contribute its California dispensary operations to the joint venture in exchange for a 50% ownership interest.
Vireo operates twelve dispensaries and home delivery from recently acquired Eaze, Inc. (“Eaze”). Glass House currently operates eleven retail locations in California. The combined network will be supported by a preferential supply agreement with Glass House, California’s largest producer of large-scale hemp. After five years, Vireo will have the option to acquire Glass House’s shares in the joint venture, and Glass House will have a reciprocal right.
Cory Azzalino, president of California-based Vireo, has been named CEO of the joint venture, where he will oversee operations and lead the platform’s retail acquisition and expansion strategy.
“California remains the world’s largest legal cannabis market, and this joint venture allows us to unlock its potential in a way that neither company can achieve alone,” said Kyle Kazan, Glass House co-founder, president and CEO. “Vireo brings exceptional retail access and delivery infrastructure through the Eaze platform, while Glass House leverages proven retail execution, low cost, scale manufacturing and deep brand equity. Together with Vireo, we have found ways to mitigate California’s challenging pricing dynamics and expand the value of our retail operations without increasing the value of our retail operations without the core objectives of Glass. new legal markets outside the state”.
“Glass House is an ideal partner to collaborate with to build the future of cannabis retail in California,” said John Mazarakis, CEO of Vireo. “Their manufacturing scale and brand strength, combined with Vireo’s retail depth and one of the industry’s leading technology-based delivery platforms, creates a joint venture that is greater than the sum of its parts;
The joint venture’s integrated delivery capabilities through the Eaze platform will expand distribution to areas with limited retail access, providing competitive pricing that supports the legal market.
I am proud to lead this platform and the opportunity it represents. Our combined retail and delivery network gives us the ability and resources to bring high-quality, affordable cannabis to consumers in California, including underserved communities, while pursuing disciplined growth that strengthens the legal market over the long term.
Cory Azalino
About Glass House Brands
Glass House is one of the fastest growing, vertically integrated cannabis companies in the US, focused on the California market and building leading, sustainable brands to serve consumers across all segments. Whether through its portfolio of brands that include Glass House Farms, PLUS Products, Allswell and Mama Sue Wellness, or its network of retail clinics across the state of California that includes The Farmacy, Natural Healing Center and The Pottery, Glass House is committed to its vision of excellence; For more information and company updates, visit www.glasshousebrands.com/ and https://ir.glasshousebrands.com/contact/email-alerts/.
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 about Vireo, visit www.vireogrowth.com.
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.
Michigan Cannabis sales for March decreased compared to a year ago, as they increased sequentially by 8.9%. At 255.5 million dollars, sales decreased by 7.8 percent compared to the previous year.
The Michigan Cannabis Regulatory Agency breaks down sales by medical and adult use, with medical sales down 36.8% year-over-year to $0.4 million, down 3.8% sequentially, and adult-use sales down 7.7% year-over-year to $255.5 million, up 8.9% sequentially.
The state breaks down sales by category and provides pricing details by category for both medical and adult;
For Adults – UseMedical
As supply continues to expand, adult flower prices have fallen sharply, although the decline is slowing. The average price of $987 per pound in March was up 3.0% sequentially from a record low in December and down 5.3% from a year ago.
Michigan hemp sales are expected to grow 82.1% to $1.79 billion in 2021, 27.9% to $2.29 billion in 2022, and 33.3% to $3.06 billion in 2023. billion In 2026, Michigan cannabis sales decreased by 7.8%.
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
Vireo Growth Inc. announces the acquisition of The Hawthorne Gardening Company from Scotts Miracle-Gro.
The transaction further strengthens the Company’s balance sheet with combined cash and net working capital of approximately $110 million.
213 million shares outstanding with an implied price of $0.60 and 80 million warrants with a strike price of $0.85.
The company has nominated Scotts Miracle-Gro EVP Chris Hagedorn for election to its board of directors.
MINNEAPOLIS, April 8, 2026 (GLOBE NEWSWIRE) — Vireo Growth Inc. (CSE: VREO; OTCQX: VREOF) (“Vireo” or the “Company”) announced today that it has completed the acquisition of The Hawthorne Gardening Company LLC (including certain of its subsidiaries, “Hawthorne”), a leading supplier of horticultural nutrients, lighting and other materials in North America. The Scotts Miracle-Gro Company (“ScottsMiracle-Gro”) (“Hawthorne Transaction”).
As a result of the Hawthorne transaction, Vireo acquired $35 million in cash held by Hawthorne, approximately $58 million in net working capital and $20 million in subland (primarily growing media) to be delivered to the company over two years in exchange for the release of Good Dog Holdings to 2nd 2nd Holdings LLC. of the Company (each, a “Share”) and a warrant to purchase 80 million shares (the “Warrants” and together with the Shares, the “Securities”) at an exercise price of $0.85 per share exercisable for a period of five years from the date of issuance. In connection with the transaction, Vireo has nominated Scotts Miracle-Gro Executive Vice President and CEO of the Hawthorne business, Chris Hagedorn, for election to its board of directors at the Company’s annual general and special meeting of stockholders on May 29, 2026.
“The acquisition of Hawthorne further strengthens Vireo’s balance sheet and creates a procurement platform to optimize supply chain management and drive cost efficiency across our portfolio,” said John Mazarakis, Chief Executive Officer of Vireo Growth. “We are pleased to partner with Scotts Miracle-Gro on a transaction that provides approximately $110 million in cash and net working capital to the Company, and welcome the opportunity to maximize Hawthorne’s business value and operational contribution.”
“Vireo has demonstrated a clear ability to integrate complex businesses and operate efficiently,” said Chris Hagedorn, executive vice president of The Scotts Miracle-Gro Company. “Hawthorne is a natural fit on the Vireo platform, and I’m excited to work alongside the team to help realize its full potential.”
The Securities described above have not been, and will not be, registered under the United States Securities Act of 1933 (the “Securities Act”) or under US state securities laws. Accordingly, the Securities may not be offered or sold in the United States except with an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and applicable US state securities laws.
Early warning exposure
Immediately prior to the Hawthorne transaction, Good Dog did not beneficially own or control, directly or indirectly, any shares or securities that are convertible or exercisable into shares.
After giving effect to the Hawthorne transaction, Good Dog acquired 213,000,000 shares, representing approximately 14% of Vireo, with a market value of $83.7 million and $117.2 million based on the closing share price on the Canadian Stock Exchange. 80,000,000 Guarantees. In the event that Good Dog exercises all of its warrants, such exercise would result in Good Dog owning up to an additional 80,000,000 shares, and Good Dog’s aggregate ownership interest in Vireo would be approximately 19%, with a market value of US$115.1 million and C$161.2 million based on the CSE closing price of US$30. in 2026
Good Dog acquired the shares for investment purposes. Good Dog takes a long-term view of the investment and may acquire additional Vireo securities, including in the open market or through private acquisitions, or sell Vireo securities, including in the open market or through private placements, in the future, subject to resale restrictions, market conditions, plan reformulations and/or other relevant factors.
In addition to National Instrument 62-103 – The Early Warning System and related takeover bid and insider reporting requirements, Good Dog will file an early warning report in connection with its participation in the Hawthorne transaction. A copy of Good Dog’s Early Warning Report will appear on Vireo’s profile on SEDAR+ and may also be obtained directly upon request by calling Good Dog’s office at (917) 370-827 (2 East 70th Street, New York, NY, USA, 10021).
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 about Vireo, visit www.vireogrowth.com.
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.
Cory Azzalino, Chief Executive Officer, Eaze Inc
