Goodness Growth enters binding LOI to sell VireoNY assets to ACE for $3-5M; closes by June 30

Vireo Growth Inc.

Purchase price $3-5M for VireoNY licenses, inventory, assets; ACE assumes IIP lease for Johnstown campus.
ACE to invest $20M to develop license and support IIP lease transfer; acquires two-year purchase option on campus.
Goodness provides $2.5M unsecured loan to VireoNY; ACE may issue additional $5M loan with price adjustments.
Goodness retains 15% net profit interest via advisory agreement; ACE can buy out for fair market value.
Closing expected by June 30, 2024, subject to regulatory approval and definitive agreements.

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