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FINWIRES

Vireo Growth to Begin a Share Buyback Program

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Vireo Growth (VREO.CN) on Thursday said its board of directors authorized a share buyback program.

The normal course issuer bid will allow the company to repurchase and cancel up to around 2.4-million subordinate voting shares of the company in the open market, it said.

The buyback will begin on Aug. 17, added the company.

"Over the past several months, we have made significant progress executing on our growth strategy," said the cannabis company's chief executive officer, John Mazarakis."As we work to close these transformative transactions and integrate our expanded operations, we believe initiating this normal course issuer bid represents a prudent and disciplined use of capital."

Shares of the company were last seen down C$0.30 to C$15.20 on the Canadian Securities Exchange.

Price: $15.25, Change: $-0.25, Percent Change: -1.61%

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