Vireo Growth partners with Hive Holdings venture to buy Pennsylvania dispensary permits for $20 million

  • Vireo entered an SPA to acquire FarmX d/b/a PhytoNatural alongside Vive Penn, a joint venture with Hive Holdings.
  • The deal provides an entry into Pennsylvania via a non-operational retail permit that could allow up to six medical dispensaries, pending approvals.
  • Total consideration about USD 20 million; USD 8 million cash at closing, USD 12 million in 645,161 subordinate voting shares issued two years post-close.
  • Closing expected two business days after conditions are met, including required regulatory approvals.


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