Company: VREOF
Filing Date: 2025-03-21
Form Type: DEFM14C
Source: 0001140361-25-009815
Chunk: 36

Company: Vireo Growth Inc.
Filing Date: 2025-03-21
Form: DEFM14C
Chunk 36
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is has no obligation or responsibility to update, revise or reaffirm its opinion. For a more complete description of the opinion that Moelis delivered, and a summary of the material financial analyses performed, in connection with such opinion, refer to the section below entitled “Opinion of Vireo’s Financial Advisor.” Moelis’ opinion is attached as Appendix A to this Information Statement and is incorporated by reference herein.

The financial projections included under “Unaudited Prospective Financial Information” in this Information Statement reflect numerous variables, estimates and assumptions and are inherently uncertain. If any of these variables, estimates and assumptions prove to be wrong, the actual results for the combined company’s business may be materially different from the results reflected in the financial projections.

Forecasted Financial Information (as defined herein) was provided by Vireo management to the Board for the purposes of considering, analyzing and evaluating the Transactions (as defined herein) and to Moelis (as defined herein) for use in connection with its financial analysis and opinion, as described in the section entitled “Opinion of Vireo’s Financial Advisor.” The Forecasted Financial Information reflects numerous variables, estimates, and assumptions made at the time the Forecasted Financial Information was prepared that are inherently uncertain and may be beyond the control of Vireo management, including, among others, Vireo’s and the Targets’ (as defined herein) future results, which may be caused by numerous factors. For example, the Targets’ Standalone Projections (as defined herein) and the Synergy Projections (as defined herein) assumed the consummation of four Transactions, only three of which (the Mergers (as defined herein)) have been approved by the written consent addressed by this Information Statement. The exclusivity period under the Bill’s Nursery MOU (as defined herein) has expired and a definitive agreement relating to the Bill’s Nursery Acquisition (as defined herein) has not been executed (and may not be executed in the future). Given that Bill’s Nursery is not currently contemplated to be a part of the combined company, the actual results for the combined company’s business may differ materially from the results reflected in the Forecasted Financial Information.

In addition, the Forecasted Financial Information covers multiple years and such information by its nature becomes less predictive with each successive year. Moreover, the risks and uncertainties regarding the financial projections increase with each successive year and the likelihood that the actual results will differ materially from the projected results increases with each successive year. The financial projections also do not reflect general business