Chicago Atlantic and Lineage Merchant Partners Declares Transformative Merger Agreements In The Cannabis Industry (Corrected)

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) is among the 12 Best Marijuana Stocks to Buy According to Analysts. Chicago Atlantic, an affiliated company of Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) and Lineage Merchant Partners, declared that Vireo Growth Inc. (CSE: VREO), of which Chicago Atlantic is the largest shareholder, has signed definitive merger agreements with Proper Cannabis (Missouri), Deep Roots Harvest (Nevada), and WholesomeCo Cannabis (Utah). It includes the acquisition of Arches, their analytics, and their distribution platform.

Chicago Atlantic and Lineage Merchant Partners Declares Transformative Merger Agreements In The Cannabis Industry

Photo by CRYSTALWEED cannabis on Unsplash

The merged company will have 48 dispensaries, nine cultivation facilities, and 1,043,500 square feet of production and manufacturing space spread throughout seven states upon completion. Vireo valued the deals at about $397 million and also announced a $75 million equity offering at $0.625 per share. The December 2024 agreement places Vireo as a key player in a cannabis business that is consolidating and substantially expanding its reach and profitability.

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Disclosure: The earlier version of this article incorrectly stated that Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) and Lineage Merchant Partners entered into the agreement. The press release was actually issued by Chicago Atlantic, which is the entity involved in the deal.