Latest news with #Proper
Yahoo
2 days ago
- Business
- Yahoo
Vireo Growth Inc. Announces Closing of Proper Brands Acquisition in Missouri
MINNEAPOLIS , June 05, 2025 (GLOBE NEWSWIRE) -- Vireo Growth Inc. ('Vireo' or the 'Company') (CSE: VREO; OTCQX: VREOF), today announced that it has closed its previously-announced transaction to acquire Missouri-based Proper Brands ('Proper') through the acquisition of NGH Investments, Inc. and Proper Holdings Management, Inc., subsidiaries of Proper Holdings, LLC, a management company providing services to Proper's portfolio of 11 retail dispensaries in Missouri. Proper was founded in 2022 and is currently one of the largest independent operators in Missouri's adult-use, recreational cannabis market. The company has a total retail footprint of 11 retail dispensaries, with one undeveloped retail license. All stores are in the St. Louis area except for one in Kansas City. The company operates a cultivation and manufacturing facility in excess of 100,000 square feet, and is in the process of implementing the Arches technology platform across its home delivery business. Total consideration for the transactions was $102.0 million, paid in the form of 196.2 million Subordinate Voting Shares of Vireo at a reference price per share of $0.52. The purchase price of the Proper transaction represents a multiple of 4.175x 2024 'Closing EBITDA' of $31 million. The transaction is subject to clawback provisions if 2026 EBITDA is below Closing EBITDA as of December 31, 2026. The shares issued in the transaction are subject to lock-up provisions, with tranches of shares received in connection with the closing unlocking over a 33-month period. About Vireo Growth Inc. Vireo was founded as a pioneer in medical cannabis in 2014 and we are fueled by an entrepreneurial drive that sustains our ongoing commitment to serve and delight our key stakeholders, most notably our customers, our employees, our shareholders, our industry collaborators, and the communities in which we live and operate. We work every day to get better and our team prioritizes 1) empowering and supporting strong local market leaders and 2) strategic, prudent capital and human resource allocation. For more information, please visit Contact Information Joe DuxburyChief Accounting Officerinvestor@ 314-8995 Forward-Looking Statement Disclosure This press release contains 'forward-looking information' within the meaning of applicable United States and Canadian securities legislation. Forward-looking information contained in this press release may be identified by the use of words such as 'should,' 'believe,' 'estimate,' 'would,' 'looking forward,' 'may,' 'continue,' 'expect,' 'expected,' 'will,' 'likely,' 'subject to,' 'transformation,' and 'pending,' variations of such words and phrases, or any statements or clauses containing verbs in any future tense and includes, but may not be limited to, statements regarding the Merger Transactions, including the timeline for the closing of the Merger Transactions; shareholder approval of the Merger Transactions; and the regulatory approvals required for the Merger Transactions. These statements should not be read as guarantees of future performance or results. Forward-looking information includes both known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company or its subsidiaries to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements or information contained in this press release. Forward-looking information is based upon a number of estimates and assumptions of management, believed but not certain to be reasonable, in light of management's experience and perception of trends, current conditions, and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatoryenvironment, and the availability of licenses, approvals and permits. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, the reader should not place undue reliance on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to: risks related to the shareholder approval of the Merger Transactions; risks related to regulatory approval of the Merger Transactions; and risk factors set out in the Company's Form 10-K for the year ended December 31, 2024 and the Company's information statement regarding the Merger Transactions, both of which are available on EDGAR with the U.S. Securities and Exchange Commission and filed with the Canadian securities regulators and available under the Company's profile on SEDAR+ at The statements in this press release are made as of the date of this release. Except as required by law, we undertake no obligation to update any forward-looking statements or forward-looking information to reflect events or circumstances after the date of such pour accéder à votre portefeuille
Yahoo
06-05-2025
- Business
- Yahoo
Amid Global Economic Dynamics, BRI Records Profit of IDR 13.8 Trillion
JAKARTA, Indonesia, May 6, 2025 /PRNewswire/ -- Amid global economic dynamics, PT Bank Rakyat Indonesia (Persero) Tbk (IDX: BBRI) consistently demonstrates positive growth across all business segments. This growth contributed to BRI's consolidated net profit in the first quarter of 2025, which reached IDR 13.80 trillion. The BRI leadership team at the Q1 2025 Financial Performance Press Conference held in Jakarta on 30 April 2025 (PRNewsfoto/PT Bank Rakyat Indonesia Tbk (BRI)) At the BRI Q1 2025 Financial Performance Press Conference, BRI President Director Hery Gunardi stated that amid global economic challenges, BRI Group managed to record a net profit of IDR 13.80 trillion and total assets reaching IDR 2,098.23 trillion, growing 5.49% year-on-year (YoY). On credit distribution, BRI Micro Director Akhmad Purwakajaya explained that BRI recorded credit disbursement of IDR 1,373.66 trillion, growing 4.97% YoY. "BRI's MSME credit growth is supported by efforts to boost financial literacy and inclusion, including the expansion of AgenBRILink" he added. Regarding credit quality, BRI Risk Management Director Mucharom explained that BRI's credit growth is driven by the implementation of effective and prudent risk management in loan disbursement. Additionally, BRI Network & Retail Funding Director Aquarius Rudianto elaborated on BRI's Third-Party Funds (DPK) performance. "In terms of DPK, BRI managed to collect IDR 1,421.60 trillion. Low-cost funds (CASA) dominated BRI's DPK collection with a proportion of 65.77%, or equivalent to IDR 934.95 trillion," said Aquarius. In terms of liquidity and capital, BRI still has room for stronger growth in the coming periods. "BRI's positive performance through the end of March 2025 is also supported by adequate liquidity and strong capital. This is indicated by the bank's Loan to Deposit Ratio (LDR) at 86.03% and a Capital Adequacy Ratio (CAR) of 24.03%," stated Viviana Dyah Ayu, BRI's Director of Finance & Strategy. For your information, BRI President Director Hery Gunardi, Director of Risk Management Mucharom, Director of Micro Business Akhmad Purwakajaya, and Director of Network & Retail Funding Aquarius Rudianto were appointed during the Annual General Meeting of Shareholders (AGMS) on March 24, 2025, and may carry out their duties and functions in their respective positions upon obtaining approval from the OJK's Fit and Proper Test assessment. For more information about BANK BRI, visit Cision View original content to download multimedia: SOURCE PT Bank Rakyat Indonesia Tbk (BRI)
Business Wire
24-04-2025
- Business
- Business Wire
AM Best Affirms Credit Ratings of Sagicor Reinsurance Bermuda Ltd. and Sagicor Life Jamaica Limited
OLDWICK, N.J.--(BUSINESS WIRE)-- AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of 'a-' (Excellent) of Sagicor Reinsurance Bermuda Ltd. (SRBL) (Bermuda). In addition, AM Best has affirmed the FSR of B++ (Good) and the Long-Term ICR of 'bbb+' (Good) of Sagicor Life Jamaica Limited (SLJ) (Kingston, Jamaica). The outlook of these Credit Ratings (ratings) is stable. The ratings of SRBL reflect its balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM). SRBL optimizes group-wide capital, and its ratings benefit from a capital maintenance agreement with Sagicor Financial Company, Ltd. The ratings of SLJ reflect its balance sheet strength, which AM Best assesses as strong, as well as its strong operating performance, neutral business profile and appropriate ERM. SLJ has a very strong market position in Jamaica, and a consistent history of revenue and earnings, which has led to balance sheet growth. Offsetting rating factors include an elevated country risk level in Jamaica. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.
Forbes
02-04-2025
- Business
- Forbes
Proper Hotels' First Residential Project In Miami To Debut In 2028
Midtown Park Residences is slated for completion in 2028. Proper Hospitality, perhaps best known for its luxurious hotels like the Kelly Wearstler-designed Santa Monica Proper and Austin Proper, designs high-end lifestyle experiences throughout Southern California, Austin, Texas, and San Francisco. Now, the luxury brand is making its debut in Miami, Florida with Midtown Park Residences by Proper. This is Proper's first residential scheme in Florida, but the second in its portfolio, following the success of Austin Proper Residences. Proper Hospitality is working alongside Rosso Development and Midtown Development to debut Midtown Park Residences, which will feature 288 residences over 28 stories in a mixed-use development in Midtown Miami, within walking distance to the Design District and arts-centric Wynwood neighborhoods. The entrance to Midtown Park Residences. Midtown Park Residences will be spearheaded by renowned architecture firm Arquitectonica, interiors firm Meyer Davis Studio, and landscape architect Naturalficial. Proper is known for its artful, localized approach to interior design, as seen with the boho-chic interiors at Santa Monica Proper, and Midtown Park Residences will be no different. Offerings include studios, one bedrooms, one bedrooms plus den, two bedrooms, and three bedrooms, which will range from 510 square feet to 1,730 square feet. There will also be a private collection of penthouses averaging 3,150 square feet. Meyer Davis will honor the Proper's design aesthetic, with visually rich interiors, sophisticated luxury, and one-of-a-kind details that recall the vibrant spirit of Miami. Meyer Davis Studio is responsible for the interior design. Set for completion in 2028, the residences will feature open floor plans with 10-foot-high ceilings, wraparound terraces, glass railings, energy-efficient windows, and finishes like imported wood porcelain flooring. Each will have designer-done kitchens with Italian cabinetry, quartz countertops, brass details, and high-end appliances from Sub-Zero and Wolf. Like individual sanctuaries, each primary bedroom will have ample space and spa-like bathrooms with glass-enclosed double showers, Hansgrohe brass fixtures, and Jade ceramic walls. The penthouses will incorporate Proper Hospitality's signature wet rooms with freestanding bathtubs and also have 20-foot-high corner living rooms with private rooftop terraces, gardens, and private pools. 'We envisioned a dynamic connection between the city and home that creates a unique living experience,' said Will Meyer, principal of Meyer Davis Studio. 'Public and private spaces coexist in harmony, enriching both the city and the lives of its residents.' The exterior. Not only are the luxury residences located within a vibrant and buzzing community with shops, restaurants, cafes, and parks just nearby, but they will have access to more than 40,000 square feet of private amenity spaces, including a pool deck, signature restaurant and bar, Pilates studio, yoga and meditation garden, fitness center, private pickleball court, spa pool, saunas, massage rooms, coffee bar, events lounge, kid's club, communal vegetable garden, virtual golf simulator, business center, and a conference room. There's even a Culture Concierge that can handle anything from on-demand in-residence services to pet care and home maintenance. Residents will also have exclusive owner events across the entirety of Proper's hospitality portfolio, including the nearby Shelborne Hotel by Proper on Miami Beach's Millionaires' Row. Sales for the units are launching this week and handled by Fortune Development Sales.
Yahoo
13-02-2025
- Business
- Yahoo
45-year community staple announces permanent closure
After 45 years, a Springfield community staple is closing its doors. [DOWNLOAD: Free WHIO-TV News app for alerts as news breaks] News Center 7′s Amber Jenkins speaks with the owner of the store LIVE on News Center 7 at 5:30 p.m. TRENDING STORIES: Ohio National Guard member sentenced for rape conviction involving a minor Funeral arrangements announced for local university student killed in D.C. plane crash 13-year-old charged with murder of 64-year-old Ohio woman Bonnie Proper, the owner of the appliance store Mr. Handy, says this has not been an easy decision. 'Once we get through all these health issues, it's time to relax and enjoy, and not have to answer phones,' Proper said. Mr. Handy Appliance Parts Center is closing its doors for good after serving the area for 45 years. Proper says she started as a worker at the store, and eventually bought the shop. Now, dealing with health issues, Proper says it's time to close. 'You don't realize what you mean to a community until something like this happens,' Proper said. Forty years ago, Proper says she didn't understand any of the store lingo or inner workings. But now, people look to her expertise when they need something fixed. 'They were very patient, so I picked it up,' Proper said. 'God gave me a brain to hold it, I guess.' News of the store's closure is spreading throughout the community, and customers are taking the time to stop by, say goodbye and show support for Proper's health. 'She's very knowledgeable,' Rick Smith, a customer, said. 'I don't care what it is, it can be a furnace, washer, dryer.' Proper says she has already sold the building, and the store's last day is Feb. 22. [SIGN UP: WHIO-TV Daily Headlines Newsletter]
