MINNEAPOLIS, July 20, 2026 (GLOBE NEWSWIRE) -- Vireo Growth Inc. (CSE: VREO) (OTCQX: VREOF) (“Vireo” or the “Company”), through its subsidiary, Vireo Health of Arcadia, LLC (“Buyer”), and The Cannabist Company Holdings Inc. (“Cannabist”), today announced that they have entered into a definitive purchase agreement pursuant to which the Buyer will acquire certain cannabis cultivation, manufacturing and retail operations from subsidiaries of Cannabist across five markets: Colorado, Illinois, Massachusetts, New Jersey, and West Virginia (the “Transaction”). .

明尼阿波利斯，2026年7月20日（环球电讯社）——Vireo Growth Inc.（CSE: VREO）（OTCQX: VREOF）（“Vireo”或“公司”）通过其子公司Vireo Health of Arcadia, LLC（“买方”）与The Cannabist Company Holdings Inc.（“Cannabist”）今日宣布，双方已签订一项具有约束力的购买协议，根据该协议，买方将从Cannabist的子公司手中收购其在五个市场（科罗拉多州、伊利诺伊州、马萨诸塞州、新泽西州和西弗吉尼亚州）的某些大麻种植、制造和零售业务（“本次交易”）。

Total consideration for the Transaction, subject to certain regulatory approvals, will be up to US$35 million, comprised of up to US$18.75 million in cash payable at closing and up to US$16.25 million in seller notes. Total consideration payable in the Transaction will be subject to customary adjustments based on target levels of cash, indebtedness, tax liabilities, working capital adjustments, as well as certain other items.

本次交易的总对价（以取得某些监管批准为前提）最高为3,500万美元，包括在交割时支付的最高1,875万美元现金以及最高1,625万美元的卖方票据。本次交易中应付的总对价将根据现金、债务、税务负债、营运资金调整以及某些其他项目的目标水平进行惯例性调整。

Completion of the Transaction is expected to occur in stages through calendar year 2026 and into calendar year 2027, subject to certain regulatory approvals..

交易的完成预计将在2026日历年内分阶段进行，并延续至2027日历年，具体取决于某些监管批准。

The Transaction represents the latest step in Vireo’s ongoing strategic expansion initiative and is expected to further strengthen the Company’s footprint in several attractive, limited-license cannabis markets.

本次交易是Vireo持续战略扩张计划的最新举措，预计将进一步巩固公司在多个具有吸引力且牌照受限的大麻市场的布局。

Upon closing each market, Vireo will deepen its presence in Colorado with eight dispensaries and enter four new state markets. In total, the Transaction is expected to add up to 25 dispensaries, one cultivation and one production asset, bringing Vireo’s pro forma retail footprint to approximately 230 dispensaries, including previously announced acquisitions pending closing.

在完成各项市场交易交割后，Vireo 将通过旗下八家 dispensary 深化其在科罗拉多州的布局，并进入四个新的州级市场。总体而言，该交易预计将增加多达 25 家 dispensary、一处种植资产和一处生产资产，使 Vireo 的备考零售网络达到约 230 家 dispensary，其中包括此前已宣布但尚待交割的收购项目。

This Transaction would position Vireo as a top-tier cannabis operator with operations across 15 states, and the second largest dispensary network in the country..

此次交易将使Vireo成为一家在15个州开展业务的顶级大麻运营商，并拥有全国第二大的零售店网络。

The Transaction is subject to customary closing conditions and regulatory approvals in each market. Upon closing, Vireo expects to integrate the acquired operations into its existing platform while maintaining a focus on operational efficiency, product quality and customer experience. The Company noted additional divestitures could follow the closing depending on regulatory review and as part of ongoing portfolio optimization efforts..

本次交易须满足惯例交割条件并获得各市场相关的监管批准。交易完成后，Vireo 计划将所收购的业务整合至其现有平台，同时持续关注运营效率、产品质量及客户体验。公司指出，根据监管审查结果以及作为持续投资组合优化工作的一部分，在交易完成后可能会进行额外的资产剥离。

Cannabist Strategic Review Process, CCAA Proceedings, and Chapter 15 Proceedings

Cannabist 战略审查程序、《公司债权人安排法》（CCAA）程序以及第15章程序

As Cannabist previously announced, on March 24, 2026, Cannabist commenced CCAA proceedings before the Ontario Superior Court of Justice (Commercial List) (the “Canadian Court,” and such proceedings, the “CCAA Proceedings”) and entered into a previously announced strategic review process initiated by a special committee of Cannabist’s board of directors comprised of independent directors (the “Special Committee”).

正如 Cannabist 此前所宣布，2026年3月24日，Cannabist 在安大略省高等法院（商业清单）（“加拿大法院”，此类程序为“CCAA 程序”）启动了 CCAA 程序，并进入了由 Cannabist 董事会中独立董事组成的特别委员会（“特别委员会”）发起的先前宣布的战略审查程序。

With support from external financial and legal advisors, the Special Committee thoroughly evaluated a range of options including potential asset sales, mergers, or other strategic and financial transactions in light of persistent operational and financial challenges facing both Cannabist and the broader industry. Cannabist previously announced it had entered into a non-binding memorandum of understanding agreement for the sale of certain equity interests in and assets of subsidiaries in the Colorado, Illinois, New Jersey, West Virginia and Massachusetts markets on March 24, 2026..

在外部财务和法律顾问的支持下，特别委员会鉴于Cannabist及整个行业面临的持续运营和财务挑战，对包括潜在资产出售、合并或其他战略和财务交易在内的一系列方案进行了全面评估。Cannabist此前曾于2026年3月24日宣布，就向其出售科罗拉多州、伊利诺伊州、新泽西州、西弗吉尼亚州和马萨诸塞州市场的部分子公司股权及资产事宜，达成了一份不具约束力的谅解备忘录。

In addition, on March 25, 2026, Cannabist commenced proceedings under chapter 15 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (the “U.S. Bankruptcy Court”) seeking recognition of the CCAA Proceeding. On May 9, 2026, Cannabist obtained recognition of the CCAA Proceeding from the U.S.

此外，2026年3月25日，Cannabist在美国特拉华州破产法院（“美国破产法院”）根据《破产法》第15章启动程序，寻求承认CCAA程序。2026年5月9日，Cannabist获得美国对CCAA程序的承认。

Bankruptcy Court..

破产法院

Management Commentary

管理层评论

“The acquisition of select Cannabist assets meaningfully expands our operational footprint, strengthens our vertically integrated platform, and adds a highly experienced team along with operations in new markets for Vireo,” stated Vireo Chief Executive Officer, John Mazarakis. “This transaction reflects our disciplined and strategic approach to industry consolidation as we continue building one of the most capital efficient, vertically integrated cannabis platforms in the United States.”.

Vireo首席执行官约翰·马扎拉基斯表示：“收购Cannabist的部分资产显著扩大了我们的运营范围，强化了我们的垂直一体化平台，并为Vireo引入了一支经验丰富的团队以及在新市场的运营业务。此次交易体现了我们在行业整合中秉持的审慎和战略方针，我们正持续打造美国资本效率最高、垂直一体化程度领先的大麻平台之一。”

“We are proud of the team and operations we have built across these markets, and we believe these transactions position those assets for continued growth and long-term success through Vireo’s platform,” said The Cannabist Company Chief Executive Officer, David Hart.

“我们为在这些市场建立的团队和运营感到自豪，我们相信这些交易将通过Vireo的平台使这些资产实现持续增长和长期成功。”The Cannabist Company首席执行官大卫·哈特表示。

Approvals and Recommendation

审批与建议

The Transaction was unanimously approved by the Special Committee. Completion of the Transaction is subject to, among other things, the granting of a sale approval and vesting order by the Canadian Court under the CCAA and receipt of applicable cannabis regulatory approvals in each market. The board of directors of Vireo has also unanimously approved the Transaction..

该交易已获特别委员会一致批准。交易的完成须满足多项条件，其中包括获得加拿大法院根据《公司债权人安排法》（CCAA）授予的销售批准及归属令，并在各个市场取得适用的大麻监管批准。Vireo 的董事会也已一致批准该交易。

Legal and Financial Advisors and Chief Restructuring Officer

法律顾问、财务顾问及首席重组官

Stikeman Elliott LLP is acting as Canadian counsel to Cannabist, while Weil, Gotshal & Manges LLP serves as U.S. counsel to Cannabist in respect of the Transaction and Chapter 15 Proceedings and Foley Hoag LLP serves as U.S. regulatory counsel to Cannabist. Moelis & Company LLC acts as investment banker and financial advisor to Cannabist.

Stikeman Elliott LLP 担任 Cannabist 的加拿大法律顾问，Weil, Gotshal & Manges LLP 就本次交易及第15章程序担任 Cannabist 的美国法律顾问，Foley Hoag LLP 担任 Cannabist 的美国监管法律顾问。Moelis & Company LLC 担任 Cannabist 的投资银行家和财务顾问。

SierraConstellation Partners LLC is the Chief Restructuring Officer of Cannabist..

SierraConstellation Partners LLC 是 Cannabist 的首席重组官。

DLA Piper (Canada) LLP is acting as Canadian legal counsel, Eversheds Sutherland (US) LLP is acting as United States legal counsel, and Troutman Pepper Locke LLP is acting as U.S. securities counsel to Vireo.

DLA Piper (Canada) LLP 担任加拿大法律顾问，Eversheds Sutherland (US) LLP 担任美国法律顾问，Troutman Pepper Locke LLP 担任 Vireo 的美国证券法律顾问。

About The Cannabist Company (f/k/a Columbia Care)

关于 Cannabist 公司（前身为 Columbia Care）

The Cannabist Company formerly known as Columbia Care, owns subsidiaries that are cultivators, manufacturers and providers of cannabis products and related services. The Cannabist Company’s subsidiaries operate dispensaries and cultivation and manufacturing facilities, including those facilities subject to pending sale or wind-down.

Cannabist Company（前身为 Columbia Care）旗下拥有多家子公司，这些子公司从事大麻产品的种植、生产、供应及相关服务。Cannabist Company 的子公司运营着零售 dispensaries、种植设施和生产设施，其中包括正处于待售或关停过程中的设施。

Founded as Columbia Care, with a focus on medical applications of cannabis and emphasis on institutional research and clinical outcomes, The Cannabist Company is one of the original multi-state providers of cannabis in the U.S. and now delivers products and services to both the medical and adult-use markets.

The Cannabist Company 前身为 Columbia Care，专注于大麻的医疗应用，并强调机构研究与临床成果，是美国最早的多州大麻供应商之一，目前向医疗市场和成人娱乐市场提供产品与服务。

In 2021, in response to the proliferation of adult use markets, The Cannabist Company launched Cannabist, its retail brand, creating a national dispensary network through its subsidiaries. The Cannabist Company’s subsidiaries offer products spanning flower, edibles, oils and tablets, and manufacture popular brands including dreamt, Seed & Strain, Triple Seven, Hedy, gLeaf, Classix, Press, and Amber.

2021年，为应对成人使用市场的迅速扩张，The Cannabist Company推出了其零售品牌Cannabist，并通过旗下子公司建立了全国性的 dispensaries 网络。The Cannabist Company的子公司提供涵盖花材、食用产品、油剂和片剂等多种产品，并制造包括dreamt、Seed & Strain、Triple Seven、Hedy、gLeaf、Classix、Press和Amber在内的多个知名品牌。

For more information, please visit .

更多信息，请访问。

www.cannabistcompany.com

www.cannabistcompany.com

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About Vireo Growth Inc.

关于 Vireo Growth Inc.

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.

Vireo Growth Inc.（CSE: VREO；OTCQX: VREOF）是一家领先的垂直整合大麻公司，正在构建一个横跨大麻及相关农业市场的广泛平台。该公司在美国开展种植、制造、零售药房、居家配送、分销以及农业供应业务，从而同时涉足大麻市场及其互补的相关市场。

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.

Vireo 在 10 个州开展业务，拥有遍布全国的 170 多家 dispensaries（大麻零售店），通过严谨的资本配置、战略性收购和本地市场执行，扩大其平台规模并推动长期股东价值。公司专注于扩大市场份额，加强其消费者品牌和服务组合，同时支持其所服务的客户、员工、股东和社区。

For more information about Vireo, visit .

如需了解更多关于 Vireo 的信息，请访问。

www.vireogrowth.com

www.vireogrowth.com

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Forward-Looking Information

前瞻性信息

This press release contains “forward-looking information” within the meaning of applicable United States and Canadian securities legislation. To the extent any forward-looking information in this press release constitutes “financial outlooks” within the meaning of applicable United States or Canadian securities laws, this information is being provided as preliminary financial results; the reader is cautioned that this information may not be appropriate for any other purpose and the reader should not place undue reliance on such financial outlooks.

本新闻稿包含适用美国和加拿大证券立法意义上的“前瞻性信息”。若本新闻稿中的任何前瞻性信息构成适用美国或加拿大证券法律意义上的“财务展望”，则该等信息系作为初步财务结果提供；提醒读者，该等信息可能不适用于任何其他目的，读者不应过度依赖此类财务展望。

Forward-looking information contained in this press release may be identified by the use of words such as “should,” “believe,” “estimate,” “would,” “looking forward,” “may,” “continue,” “expect,” “expected,” “will,” “likely,” “subject to,” and variations of such words and phrases, or any statements or clauses containing verbs in any future tense and includes statements regarding (i) Vireo’s and Cannabist’s future product portfolios and their respective plans related thereto; (ii) future growth opportunities for Vireo and Cannabist; (iii) Vireo’s enhanced performance over the combined footprint with Cannabist and plans for the acquired operations; (iv) Vireo’s plans to build a scaled retail presence in Colorado, New Jersey, Massachusetts, Illinois or West Virginia; (v) Vireo’s and Cannabist’s respective strategies, plans and commitments; (vi) the closing of the Transaction, including the expected timing thereof; and (vii) other statements that are not historical facts.

本新闻稿中包含的前瞻性信息可通过使用“应该”、“相信”、“估计”、“将会”、“展望”、“可能”、“继续”、“预期”、“预计”、“将”、“很可能”、“取决于”等词语及其变体，或任何包含将来时态动词的陈述或条款来识别，其中包括有关以下内容的陈述：(i) Vireo 和 Cannabist 未来的产品组合及其相关计划；(ii) Vireo 和 Cannabist 未来的增长机会；(iii) Vireo 在与 Cannabist 合并后的业务范围内的业绩提升以及对所收购业务的计划；(iv) Vireo 在科罗拉多州、新泽西州、马萨诸塞州、伊利诺伊州或西弗吉尼亚州建立规模化零售布局的计划；(v) Vireo 和 Cannabist 各自的战略、计划和承诺；(vi) 交易的完成，包括其预期时间；以及 (vii) 其他非历史事实的陈述。

These statements should not be read as guarantees of future performance or results. Forward-looking information includes both known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Vireo, Cann.

这些陈述不应被解读为对未来业绩或结果的保证。前瞻性信息包括已知和未知的风险、不确定性以及其他因素，这些因素可能导致 Vireo 的实际结果、业绩或成就与预期产生差异。

Although Vireo and Cannabist believe that the expectations and assumptions on which such forward-looking information is based are reasonable, the reader should not place undue reliance on the forward-looking information because neither Vireo nor Cannabist can give assurance that they will prove to be correct.

尽管Vireo和Cannabist认为此类前瞻性信息所依据的预期和假设是合理的，但读者不应过度依赖这些前瞻性信息，因为Vireo和Cannabist均无法保证其准确性。

Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to, in the case of each party: risks involved with the adverse impact of the Transaction on Vireo’s or Cannabist’s respective businesses, financial conditions, and results of operations; Vireo’s and Cannabist’s ability to maintain relationships with suppliers, customers, employees and other third parties as a result of the Transaction; the effects of the Transaction on Vireo, Cannabist and the interests of their respective stakeholders; risks and uncertainties associated with the Transaction, some of which are beyond either party’s control; the nature, cost, impact and outcome of pending and future litigation, other legal or regulatory proceedings, or governmental investigations and actions; risks related to the timing and content of adult-use legislation in markets where Vireo or Cannabist currently operates; current and future market conditions, including the market price of the subordinate voting shares of Vireo and Cannabist; risks related to epidemics and pandemics; federal, state, local, and foreign government laws, rules, and regulations, including federal and state laws and regulations in the United States r.

实际结果和发展可能与这些陈述所预期的存在重大差异。前瞻性信息受多种风险和不确定性的影响，这些风险和不确定性可能导致实际事件或结果与前瞻性信息中预测的内容存在重大差异。此类风险和不确定性包括但不限于，就各方而言：交易对Vireo或Cannabist各自业务、财务状况和经营业绩产生不利影响的风险；因交易而导致Vireo和Cannabist维持与供应商、客户、员工及其他第三方关系的能力受到影响的风险；交易对Vireo、Cannabist及其各自利益相关者权益的影响；与交易相关的风险和不确定性，其中部分超出任何一方的控制范围；未决及未来诉讼、其他法律或监管程序、或政府调查和行动的性质、成本、影响和结果；与Vireo或Cannabist目前运营的市场中成人使用立法的时间和内容相关的风险；当前和未来的市场状况，包括Vireo和Cannabist次级投票股的市场价格；与流行病和大流行病相关的风险；联邦、州、地方和外国政府的法律、规则和法规，包括美国的联邦和州法律及法规。

www.sedarplus.com

www.sedarplus.com

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The statements in this press release are made as of the date of this release. Except as required by law, neither Vireo nor Cannabist undertakes any obligation to update any forward-looking statements or forward-looking information to reflect events or circumstances after the date of such statements..

本新闻稿中的陈述截至本新闻稿发布之日作出。除法律要求外，Vireo 和 Cannabist 均不承担更新任何前瞻性陈述或前瞻性信息以反映此类陈述日期之后发生的事件或情况的义务。

For Cannabist,

对于大麻主义者，

additional information is available at https://cfcanada.fticonsulting.com/tcc/

更多信息请访问 https://cfcanada.fticonsulting.com/tcc/

For Vireo, contact:

如需联系 Vireo：

Lynn Ricci

林恩·里奇

Director Investor Relations & Corporate Communications

投资者关系与企业传播总监

investor@vireogrowth.com

investor@vireogrowth.com

(612) 314-8995

(612) 314-8995