Vireo Growth to buy Pennsylvania dispensary permit owner PhytoNatural for $20 million

  • Vireo entered an SPA to acquire, with joint venture Vive Penn, FarmX (PhytoNatural), which holds a non-operational Pennsylvania retail permit.
  • The permit could allow Vive to open up to six medical cannabis dispensaries in Pennsylvania, subject to regulatory approval.
  • Total consideration is about $20 million, including $8 million cash at closing from Vive.
  • The remaining $12 million is to be paid via 645,161 Vireo subordinate voting shares, issued two years after closing.
  • Closing is expected two business days after conditions under the SPA are satisfied.


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