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Vireo Growth merger with DeepRoots approved after tax-delinquency disclosure and payment-plan resolution
Summary
The CCB approved Vireo Growth’s acquisition of DeepRoots’ Nevada licenses after applicants disclosed a tax delinquency that the Nevada Department of Taxation placed on a payment plan May 7, 2025. Board approved with standard TOI waiver conditions.
The Cannabis Compliance Board on May 15 approved Vireo Growth Inc.’s acquisition of DeepRoots Holdings Inc. and its Nevada licenses, concluding a lengthy presentation by both companies’ executives and regulatory counsel.
Outside counsel Lori Rogich introduced the merger and executives from DeepRoots and Vireo. Vireo co‑executive chairman John Mazerakis acknowledged an embarrassing tax delinquency that the company discovered simultaneously with CCB staff; the board was told the delinquency relates to MJ Distributing (C201) and that the Nevada Department of Taxation approved a payment plan on May 7, 2025, putting the company in good standing with the department. Counsel and company executives emphasized that DeepRoots’ existing management team will remain in place post-merger and that the transaction will be structured as an all-stock consideration with DeepRoots executives continuing to manage operations.
DeepRoots leaders described a decade of operations, roughly 385 employees across their footprint, and told the board they expect the deal to preserve local management and jobs. Vireo representatives said they will not change local management, describing an approach they call the House of Local Operators (HOLO) to support and scale local operators.
Several board members praised the management continuity and local-control commitments. Member Berry noted appreciation for the local leadership and emphasized the importance of retaining operators with established Nevada experience. Member Masurano moved to approve the TOI/merger; the motion carried. The board’s approval included the customary condition that any waivers of NCCR 5.11 expire at the parties’ next TOI appearance.
The board’s action permits the companies to proceed with the restructuring and integration steps under the CCB’s oversight; the approval is subject to any ongoing regulatory conditions and final filings.
