12:07 PM EST, 12/31/2024 (MT Newswires) -- Cannabis company Vireo Growth ( VREOF ) , down 3.75% on last look, on Tuesday said it has closed its near US$81 million oversubscribed equity securities offering.

The company issued more than 129.5 million subordinate voting shares at US$0.625 each.

Proceeds will be used for business development, including organic and acquisitive growth investments, as well as working capital and general corporate purposes.

Vireo was down $0.03, to $0.77, on the Canadian Securities exchange.