The deal values C21 shares at 0.023052 Vireo subordinate voting shares per share, expanding Vireo’s Nevada operations.
Vireo Growth will acquire C21 Investments in an all-share deal, strengthening its presence in the Nevada cannabis market. C21 shareholders will receive 0.023052 Vireo subordinate voting shares for each share held.
The transaction follows Vireo’s strategy to consolidate regional cannabis operators. C21 Investments operates in Nevada and Oregon, with recent revenue growth in both markets. No cash consideration is involved in the agreement.
Vireo did not disclose the total deal value or expected closing timeline. The companies expect regulatory approvals to proceed without major delays.