Announcement • Jul 27
Vireo Growth Inc. (CNSX:VREO) entered into a definitive merger agreement to acquire Planet 13 Holdings Inc. (CNSX:PLTH) for $51.9 million. Vireo Growth Inc. (CNSX:VREO) entered into a definitive merger agreement to acquire Planet 13 Holdings Inc. (CNSX:PLTH) for $51.9 million on July 26, 2026. Under the terms of the agreement, each issued and outstanding share of common stock of Planet 13 will be converted into the right to receive 0.015 of a Vireo subordinate voting share. The price represents a 16.6% premium over Planet 13’s 20-day volume weighted average price per share as of July 24, 2026, the last trading day before the execution of the Merger Agreement. In case of termination of transaction, Planet 13 Holdings will pay a termination fee of $1.80 million.
The transaction is subject to closing conditions, including obtaining Planet 13 stockholder approval, the effectiveness of a registration statement on Form S-4 to be filed with the U.S. Securities and Exchange Commission, approval of the listing of the Vireo shares issuable in the
Transaction by the Canadian Securities Exchange, and applicable cannabis regulatory approvals. The Board of Directors of Planet 13 Holdings Inc. formed a special committee for the transaction. The deal has been unanimously approved by the board of both companies. Upon completion of the transaction, it is expected that the Planet 13 shares of common stock will be delisted from the Canadian Securities Exchange and withdrawn from the OTCQX Market and that Planet 13 will apply to cease to be a reporting issuer under applicable United States
and Canadian securities laws.
ATB Cormark Capital Markets acted as financial advisor and fairness opinion provider to the Special Committee. Eversheds Sutherland (US) LLP and DLA Piper (Canada) LLP acted as legal advisors to Vireo. Cozen O’Connor is serving as legal advisor to Planet 13. Foley Hoag LLP is serving as legal advisor to the Special Committee Announcement • Jul 18
Vireo Growth Inc. (CNSX:VREO) and Vive Penn, LLC acquired FarmX, LLC. Vireo Growth Inc. (CNSX:VREO) and Vive Penn, LLC entered into a Securities Purchase Agreement to acquire FarmX, LLC for $20 million on July 2, 2026. The total consideration consists of $8 million in cash payable at closing and $12 million payable through the issuance of approximately 645,161 subordinate voting shares of Vireo. The stock consideration is scheduled to be issued two years following the closing date. Post-transaction, the acquired permit will allow Vive Penn, LLC to operate up to six retail medical dispensaries in Pennsylvania.
The transaction is subject to approval by regulatory board / committee and customary closing conditions. The transaction is expected to close two business days following the date the parties satisfy all conditions precedent to the agreement.
Vireo Growth Inc. (CNSX:VREO) and Vive Penn, LLC completed the acquisition of FarmX, LLC on July 17, 2026. Announcement • Jun 16
Vireo Growth Inc. (CNSX:VREO) entered into a definitive agreement to acquire C21 Investments Inc. (CNSX:CXXI) for $34.88 million. Vireo Growth Inc. (CNSX:VREO) entered into a definitive agreement to acquire C21 Investments Inc. (CNSX:CXXI) for $34.88 million on June 15, 2026. The consideration consists of 2.72 million common equity of Vireo Growth Inc. at a ratio of 0.023052 per common equity of C21 Investments Inc. As part of consideration, an undisclosed value is paid towards common equity of C21 Investments Inc. In case of termination of transaction, seller will pay a termination fee of $3 million.
The transaction is subject to subject to court approval, approval by regulatory board, approval of merger agreement by target board, approval of offer by acquirer board and approval of offer by target shareholders. The Board of Directors of C21 Investments Inc. formed a special committee for the transaction. The deal has been unanimously approved by the board. The transaction is expected to close in the third quarter of 2026.
Needham & Company, LLC acted as fairness opinion provider and Koffman Kalef LLP, Dorsey & Whitney LLP and DLA Piper LLP acted as legal advisors for C21 Investments Inc. Eversheds Sutherland LLP acted as legal advisor for Vireo Growth Inc. 
