---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-124843"
form_type: "8-K"
ticker: "VREOF"
cik: "0001771706"
company_name: "Vireo Growth Inc."
filed_at: "2025-12-29T23:59:59+00:00"
generated_at: "2026-05-16T12:07:18.088271+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Vireo Growth to acquire $2.6M face value of Schwazze notes for $1.6M in stock, reaching 89% ownership

## Summary
- Acquiring ~$2.6M face value (principal + interest) of Schwazze's 13% Senior Secured Convertible Notes for ~$1.6M in subordinate voting shares at $0.54/share.
- Upon closing, Vireo will own approximately 89% of the total outstanding Notes.
- Schwazze is currently in default on payment obligations under the Notes; maturity is December 7, 2026.
- CEO John Mazarakis is a partner of Chicago Atlantic Group, an affiliate of the collateral agent (related-party transaction).
- Closing expected by December 31, 2025, subject to Canadian Stock Exchange approval.

## SEC filing metadata
- accession: 0001104659-25-124843
- form_type: 8-K
- ticker: VREOF
- cik: 0001771706
- company_name: Vireo Growth Inc.
- filed_at: 2025-12-29T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 3.02, 8.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1771706/000110465925124843/0001104659-25-124843-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1771706/000110465925124843/tm2534419d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-124843
- JSON: https://secwatch.observer/filing/0001104659-25-124843.json
- Plain text: https://secwatch.observer/filing/0001104659-25-124843.txt

## Key facts
- Equity Issuances
  Vireo Growth Inc. issued common stock to third-party noteholders for approximately $1.6 million payable in subordinate voting shares at $0.54 per share.
  - Security: common stock
  - Purchaser: third-party noteholders
  - Consideration: approximately $1.6 million payable in subordinate voting shares at $0.54 per share
  source text: Total outstanding principal plus accrued interest of the acquired Notes is approximately $2.6 million, but the Notes will be acquired at a substantial discount to par value for total consideration of approximately $1.6 million payable in subordinate voting shares of the Company at closing at a price per share of $0.54.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1771706/000110465925124843/0001104659-25-124843-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.