Vireo Growth Inc. Unveils Strategic Developments Post-Merger
Vireo Growth Inc.: A Transformative Update
MINNEAPOLIS, in a significant step forward, Vireo Growth Inc. (CSE: VREO; OTCQX: VREOF) recently completed a crucial series of merger transactions. This landmark achievement positions Vireo as a robust contender in the U.S. multi-state cannabis sector and enhances its operational activities in six states.
Financial Expectations for the Second Quarter
With the merger brought to fruition, Vireo's anticipated financial landscape looks optimistic. The company projects its pro forma revenue for the second quarter to lie between $88 million and $91 million, while the adjusted EBITDA is expected to reach between $23 million and $24 million. It’s important to note that these projections assume that all transactions successfully closed on April 1, 2025.
Refinancing Timeline and Expectations
In conjunction with these developments, Vireo Growth Inc. is keenly focused on enhancing its financial standing by refinancing its existing debt. The company is confident that its enhanced profitability profile will aid in obtaining more advantageous terms. Discussions surrounding debt refinancing are ongoing, with management indicating that non-binding term sheets have been signed aiming to settle all outstanding senior secured debt under terms that are more favorable.
Equity Structure Post-Merger
Following these transformative transactions, Vireo disclosed that it would have 949,254,483 basic shares outstanding on an as-converted basis, while the fully-diluted shares would total 1,087,283,616. This updated structure reflects the scale and confidence of Vireo as it moves forward in the cannabis industry.
About Vireo Growth Inc.
Founded in 2014, Vireo Growth Inc. stands as a pioneer in the medical cannabis sector, driven by a passion for entrepreneurship and sustainability. The company values strong relationships with its stakeholders, including customers, employees, and the communities in which it operates. The team is dedicated to empowering local market leaders and strategically managing both capital and human resources.
Contact Details
For those seeking further information, please reach out to:
Joe Duxbury
Chief Accounting Officer
investor@vireogrowth.com
(612) 314-8995
Frequently Asked Questions
What recent updates did Vireo Growth Inc. announce?
Vireo announced significant corporate updates including projected revenue and adjusted EBITDA following the completion of merger transactions.
What is the expected revenue for Vireo in the second quarter?
The company expects pro forma revenue in the range of $88 to $91 million for the second quarter.
How is Vireo planning to address its debt?
Vireo is actively engaged in discussions to refinance its debt, aiming for more favorable terms through signed non-binding term sheets.
What is the current number of shares outstanding for Vireo?
As of now, Vireo has 949,254,483 basic shares outstanding on an as-converted basis and 1,087,283,616 fully-diluted shares.
What is Vireo Growth Inc.'s mission?
Vireo is committed to serving its stakeholders, prioritizing strong local market leadership, and ensuring strategic resource allocation in the cannabis industry.
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