Vireo Growth and Verano Holdings Settle Legal Disputes
Vireo Growth and Verano Holdings Reach Settlement
In a significant development for both Vireo Growth Inc. (CSE: VREO, OTCQX: VREOF) and Verano Holdings Corp. (Cboe CA: VRNO) (OTCQX: VRNOF), the two leading cannabis companies have announced a comprehensive settlement that resolves all outstanding litigation matters pending before the Supreme Court of British Columbia.
Details of the Settlement Agreement
Approved by the Boards of Directors of both companies, the Settlement Agreement holds substantial value for Vireo, amounting to approximately US$10 million. This includes the acquisition of certain real estate assets along with a cash payment of US$1 million.
A New Path Forward for Both Companies
The conclusion of this legal chapter is a pivotal moment, emphasizing the commitment both companies have towards progressing in a constructive manner. A joint statement from Vireo and Verano highlighted the importance of this settlement, stating, "This settlement allows both Vireo and Verano to fully embrace their respective strategic priorities without the distraction of ongoing litigation between the parties."
Commitment to Shareholders and Customers
Both firms reiterated their dedication to delivering long-term value to shareholders while ensuring high-quality products and services for their customers. By resolving this dispute, they can now redirect their focus towards innovation and growth within the ever-evolving cannabis industry.
About Vireo Growth Inc.
Founded in 2014, Vireo Growth Inc. is a leading pioneer in the medical cannabis sector. The company operates with a disciplined approach, strategically aligning its operations to ensure market efficiency. By leveraging a national portfolio, Vireo prioritizes local market penetration while hiring industry leaders and investing in talent. Their long-term commitment focuses on the needs of customers, employees, shareholders, and the communities they serve.
Overview of Verano Holdings Corp.
Verano Holdings Corp. stands as one of the U.S. cannabis industry's premier companies, demonstrating a strong performance based on revenue and brand recognition. The company operates as a vertically integrated, multi-state operator that champions the advancement of cannabis, providing customers with a premier shopping experience through its dispensary brands, Zen Leaf™ and MÜV™. With a portfolio featuring a variety of trusted brands like Verano™, Essence™, and MÜV™, Verano's operations stretch across 13 U.S. states, incorporating 15 production facilities with extensive cultivation capacity.
Contact Information
For further inquiries, you can reach the team members at both companies:
Vireo Growth Inc.
Tyson Macdonald
Chief Financial Officer
Email: tysonmacdonald@vireohealth.com
Contact: 1-646-820-8258
Verano Holdings Corp.
Steve Mazeika
VP, Communications
Email: Steve.Mazeika@verano.com
Frequently Asked Questions
What was the main outcome of the settlement between Vireo and Verano?
The main outcome was the resolution of all outstanding litigation matters, allowing both companies to focus on their strategic initiatives.
What is the financial impact of the settlement on Vireo?
The settlement is valued at approximately US$10 million for Vireo, including real estate acquisitions and a cash component.
When was this settlement announced?
The settlement was announced on October 29, 2025.
How will this impact Vireo and Verano's business operations?
Both companies can now concentrate on their growth strategies without the distraction of ongoing litigation.
What are Vireo's and Verano's commitments moving forward?
Both companies have reiterated their commitment to provide long-term value to shareholders and quality services to their customers.
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