Company: VREOF
Filing Date: 2025-03-11
Form Type: PREM14C
Source: 0001140361-25-008065
Chunk: 212

Company: Vireo Growth Inc.
Filing Date: 2025-03-11
Form: PREM14C
Chunk 212
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 the date of this Information Statement. 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 statements. Amounts are presented in United States dollars, except as otherwise indicated. Please see Appendix B for Wholesome’s financial statements for the years ended December 31, 2024 and December 31, 2023. Overview of Wholesome Wholesome was incorporated on June 15, 2020, as a Delaware corporation. The Company is a complete, plant-to-patient medical cannabis company. The Company cultivates, processes and sells high-quality cannabis products such as flowers, vape cartridges, edibles, beverages and concentrates. The Company is focused on providing the medicinal value of cannabis through its products as a natural path to health and wellness. The Company markets to retail stores and directly to consumers in the state of Utah in the United States of America. Year Ended December 31, 2024 Compared to the Year Ended December 31, 2023 Revenue We derived our revenue from cultivating, processing, and distributing cannabis products through our one dispensary and wholesale sales in Utah. For the year ended December 31, 2024, 84% of revenue was generated from retail dispensaries and 16% from the wholesale business. For the year ended December 31, 2023, 90% of revenue was generated from retail dispensaries and 10% from the wholesale business. Revenue for the year ended December 31, 2024 was $47,500,989, an increase of $10,321,206 or 28% compared to revenue of $37,179,783 for the year ended December 31, 2023. The increase was primarily attributable to increased patient count in Utah, increased delivery sales, increased product offerings, and improved product quality. Retail revenue for the year ended December 31, 2024 was $39,937,299, an increase of $6,414,043 or 19% compared to retail revenue of $33,523,256 for the year ended December 31, 2023, primarily due to increased patient count in Utah, increased delivery sales, increased product offerings, and improved product quality. Wholesale revenue for the year ended December 31, 2024 was $7,563,690, an increase of $3,907,163 or 107% compared to wholesale revenue of $3,656,527 for the year ended December 31