Company: VREOF
Filing Date: 2025-03-11
Form Type: PREM14C
Source: 0001140361-25-008065
Chunk: 258

Company: Vireo Growth Inc.
Filing Date: 2025-03-11
Form: PREM14C
Chunk 258
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 The potentially dilutive outstanding securities were excluded from the computation of pro forma net loss per share, diluted, because their effect would have been anti-dilutive. |

| (3) | Represents shares that may potentially be issued to the Proper Share Recipients under the earn-out provisions within Section 2.19 of the Proper Merger Agreement. The potential number of Proper EBITDA Earn-Out Shares is currently not determinable. |

| (4) | Represents shares that may be potentially issued to the Proper Share Recipients under the e-commerce earn-out provisions within Section 2.20 of the Proper Merger Agreement. The potential number of Proper E-Commerce Earn-Out Shares is currently not determinable. |

Consolidated Pro Forma Effects the Mergers On December 18, 2024, Vireo Growth Inc. (the “Company” or “Vireo”) entered into merger agreements (the “Merger Agreements”) with each of (i) Deep Roots Holdings, Inc. (“Deep Roots”) (the “Deep Roots Merger”), (ii) Proper Holdings, LLC (“Proper”), NGH Investments, Inc. (“NGH”), and Proper Holdings Management, Inc. (“Proper MSA Newco” and together with NGH, the “Proper Companies”) (the “Proper Mergers”), and (iii) WholesomeCo, Inc. (“Wholesome”) (the “Wholesome Merger”, and collectively with the Deep Roots Merger and the Proper Mergers, the “Mergers”). Pursuant to the Merger Agreements, Vireo will acquire all of the issued and outstanding shares of Deep Roots, the Proper Companies, and Wholesome, in exchange for the issuance of an estimated 553,902,639 subordinated voting shares (the “Subordinate Voting Shares”) of Vireo, representing a value of $254,795,215. Deep Roots Merger On December 18, 2024, Vireo entered into an Agreement and Plan of Merger (the “Deep Roots Merger Agreement”) with Deep Roots, where pursuant to the Deep Roots Merger Agreement, Vireo will acquire all of the issued and outstanding shares of Deep Roots (the “Deep Roots Merger”) in exchange for the currently estimated issuance of 245,240,000 Subordinate Voting Shares of Vireo (subject to the clawback provisions of the Deep Roots Forfeiture

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