Vireo Growth Inc. Completes Acquisition of Pennsylvania Dispensary License Transaction

Vireo Growth Inc. today announced that it has completed its previously announced acquisition of all of the issued and outstanding limited liability company membership interests of FarmX, LLC d/b/a PhytoNatural ("PhytoNatural"), jointly with Vive Penn, LLC ("Vive"), a joint venture between the Company and Hive Holdings, Inc., pursuant to the previously announced Securities Purchase Agreement (the "SPA") (the "PhytoNatural Transaction"). The acquisition includes a non-operational Pennsylvania medical cannabis retail permit that, subject to applicable regulatory approvals, authorizes the operation of up to six dispensaries in the Commonwealth. Total consideration for the PhytoNatural Transaction was $20.0 million, consisting of $8.0 million paid in cash by Vive at closing and approximately $12.0 million payable through the issuance of approximately 645,161 Vireo subordinate voting shares at a deemed issue price of $18.60 per share, to be issued two years following the closing date, in accordance with the terms of the SPA. Vireo Growth Inc. (CSE: VREO; OTCQX: VREOF) is a leading vertically integrated cannabis company building a broad platform across cannabis and adjacent agricultural markets. The Company operates cultivation, manufacturing, retail dispensaries, home delivery, distribution, and agricultural supply businesses across the United States, creating exposure to both cannabis and complementary adjacent markets. With operations in 10 states and more than 170 dispensaries nationwide, Vireo combines disciplined capital allocation, strategic acquisitions, and local market execution to scale its platform and drive long-term shareholder value. The Company is focused on expanding market share and strengthening its portfolio of consumer brands and services, while supporting the customers, employees, shareholders, and communities it serves. For more information about Vireo, visit www.vireogrowth.com.