Vireo Growth plans to acquire additional outstanding senior secured convertible notes of Medicine Man Technologies (also known as Schwazze) from third-party noteholders. Total outstanding principal plus accrued interest of the acquired Notes is approximately $2.6 million, but the Notes will be acquired at a substantial discount to par value for total consideration of approximately $1.6 million payable in subordinate voting shares of the Company at closing at a price per share of $0.54.
Upon closing of the transaction, which is expected to occur later this month, Vireo will have acquired approximately 89% of the outstanding senior secured convertible notes of Schwazze. Completion of the transaction is subject to customary conditions, including receipt of necessary approvals. The share consideration will be subject to customary resale restrictions under Canadian securities law and hold period under the rules of the Canadian Securities Exchange.
For more information:
Vireo
Email: [email protected]
vireohealth.com
Schwazze
Tel: +1 (303) 371-0387
https://schwazze.com/
