Vireo Growth extends credit facility to Jan 2027; converts $10.5M notes into 73M shares

Vireo Growth Inc.

Ninth Amendment extends credit facility maturity to Jan 29, 2027, waives default on NY disposition, extends deadline to July 31, 2025.
Company issued 12,500,000 subordinate voting shares to lenders as consideration for the amendment.
Chicago Atlantic voluntarily converted all $10.5M convertible notes (12% rate, $0.145 strike) into ~73M subordinate voting shares.
Early conversion saves $1.2M in cash interest and $1.1M in PIK interest, totaling $2.3M in interest expense savings.
Conversion reflects lender confidence in Vireo's operational improvements and positions company for adult-use sales in Minnesota.

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