Company: VREOF
Filing Date: 2025-03-21
Form Type: DEFM14C
Source: 0001140361-25-009815
Chunk: 256

Company: Vireo Growth Inc.
Filing Date: 2025-03-21
Form: DEFM14C
Chunk 256
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 E-Commerce Earn-Out Amount will be equal to 10% of an amount equal to the greater of (i) $37,500,000 or (ii) the sum of (a)(1) five (5) multipliedby (2)(I) 5% of the aggregate dollar amount of all delivery sales processed through the Arches platform plus (II) 2.5% of the aggregate dollar amount of certain online pick-up, curbside, or drive thru sales processed through the Arches platform plus (III) 1% of the aggregate

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dollar amount of certain walk-in sales processed through the Arches platform, with such amount in (2) measured either (A) during the full twelve (12) month 2026 calendar year or (B) the April 1, 2026 through December 31, 2026 period annualized to reflect a full twelve (12) month period, depending on which measurement period provides the greater sum (the “Proper E-Commerce Revenue Amount”) minus (b) $4,000,000.

The Proper E-Commerce Earn-Out Amount shall be paid by the Company through the issuance of newly issued Subordinate Voting Shares at a share price of the greater of $1.05 and the 20-day volume weighted average price of such Subordinate Voting Shares immediately prior to the end of the Proper Earn-Out Period.

Proper Forfeiture Amount: The Proper Share Recipients will be required to forfeit the Subordinate Voting Shares received by such Proper Share Recipients as Proper Actual Closing Merger Consideration in the event that (i) (a) the higher of (I) the consolidated trailing twelve (12) month adjusted EBITDA of the Proper Companies and their subsidiaries for the twelve full calendar months ending December 31, 2026, and (II) the consolidated trailing nine (9) month adjusted EBITDA of the Proper Companies and their subsidiaries for the last nine (9) months of calendar year 2026, such amount annualized to reflect a full 12-month period, is less than (b) the closing EBITDA of $31,000,000 (the absolute value of the amount of the deficiency (a) to the amount calculated in (b) if any, the “Proper EBITDA Deficiency”).

In the event that the foregoing occurs, the Proper Share Recipients will be required to forfeit an aggregate number of Subordinate Voting Shares to