Search by
On August 7, 2026, Vireo Growth Inc. announced that certain of its indirect non-cannabis subsidiaries entered into a senior secured asset-based revolving credit facility with Bank of Montreal. The facility provides an initial commitment of US$65 million, expandable to US$85 million and further to US$105 million through a US$20 million accordion feature, subject to customary conditions. According to Vireo's chief financial officer, Tyson Macdonald, the financing enhances the company's financial flexibility and supports its acquisition and organic growth strategy. The five-year revolving facility was established pursuant to a credit agreement led by Bank of Montreal, as administrative agent, with BMO Capital Markets acting as arranger and bookrunner. Borrowings bear interest, at the borrowers' election, at either Term SOFR plus an applicable margin of 1.75 to 2.00 percent, or the base rate plus 0.75 to 1.00 percent, with a 0.25 percent annual unused commitment fee on undrawn amounts. The facility, which matures on August 7, 2031, is secured by substantially all assets of the participating non-cannabis subsidiaries. Proceeds may be used to refinance certain existing subsidiary indebtedness, fund working capital, capital expenditures and other general corporate purposes, and finance permitted acquisitions. Vireo Growth is a vertically integrated cannabis company and agricultural markets platform operating across the United States. Bank of Montreal is a Canadian Schedule I bank and one of North America's leading financial institutions. Cassels acted as Canadian counsel to Vireo Growth and its subsidiaries.
Parties
Company
Vireo Growth Inc.
Bank
Bank of Montreal
Deal Type
Financing/InvestmentIndustry
Banking/FinanceTransaction
Undisclosed/ConfidentialDeal Status
ClosedClosing Date
07 August 2026