Mr. John Mazarakis reports

VIREO GROWTH INC. ANNOUNCES PENNSYLVANIA DISPENSARY LICENSE TRANSACTION, EXPANDING INTO ITS 11TH STATE

Vireo Growth Inc. has entered into a securities purchase agreement (SPA) to acquire, jointly with Vive Penn LLC, a joint venture between the company and Hive Holdings Inc., all of the issued and outstanding limited liability company membership interests of FarmX, LLC d/b/a (doing business as) PhytoNatural, which owns a non-operational retail permit that would, subject to regulatory approval, allow Vive to open up to six retail stores in Pennsylvania. Total consideration for the acquired licences is approximately $20.0-million, with $8.0-million payable by Vive in cash at closing and the remaining $12.0-million payable through the issuance of approximately 645,161 subordinate voting shares of Vireo, to be issued two years following the closing date, subject to the terms of the SPA.

"Pennsylvania is an attractive medical market, approaching approximately 450,000 registered patients in the fifth most populous state in the country," said John Mazarakis, chief executive officer of Vireo. "This transaction, in partnership with Vive, provides Vireo with an entry into Pennsylvania through the ability to operate up to six medical dispensaries. We are evaluating sites for the Vive retail stores, and we believe we are well positioned to build a meaningful presence in one of the country's leading limited licence cannabis markets."

The PhytoNatural transaction is expected to close two business days following the date the parties satisfy all conditions precedent to the SPA, including the receipt of all required regulatory approvals and the satisfaction of certain other closing conditions customary in transactions of this nature.

About Vireo Growth Inc.

Vireo Growth 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 approximately 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.

We seek Safe Harbor.