Vireo Growth to Acquire 86% of Schwazze Outstanding Convertible Debt

*MINNEAPOLIS* — Vireo Growth Inc. has entered into definitive agreements to
acquire approximately 86% of the outstanding senior secured convertible
notes of public U.S. multistate cannabis operator Medicine Man Technologies
Inc. (dba “Schwazze”) from third-party noteholders. The Notes will be
acquired at a price substantially below par value, for total consideration
of approximately $62 million payable in subordinate voting shares of the
Company at closing, at a deemed price per share of $0.54.

The transaction is expected to close later this month. Completion of the
transaction is subject to customary conditions, including receipt of
necessary approvals.