07:39 AM EDT, 07/09/2025 (MT Newswires) -- Vireo Growth ( VREOF ) after markets closed on Tuesday said it completed refinancing of all existing senior secured debt through a $120 million self-syndicated term loan with leading banks at an interest rate of 8.3%.

The company also completed expansion of its consolidated credit facilities with an additional $33 million second lien term loan with $50 million accordion to support ongoing strategic initiatives. Proceeds will be used for general corporate purposes.

"We entered this process with a clear objective: to strengthen our capital structure and reduce our cost of capital without sacrificing flexibility," said Vireo Chief Executive John Mazarakis.

Shares of the company closed unchanged at $0.59 on Tuesday on the Canadian Securities Exchange.