Company: VREOF
Filing Date: 2025-12-09
Form Type: S-3
Source: 0001104659-25-119699
Chunk: 10

Company: Vireo Growth Inc.
Filing Date: 2025-12-09
Form: S-3
Chunk 10
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SUMMARY</div>

Background

Vireo Growth Inc.
is a reporting issuer in Canada, with its securities listed for trading on the CSE under the symbol “VREO” and on the OTCQX
under the symbol “VREOF”. Vireo Growth is a cannabis company whose mission is to provide safe access, quality products and
value to its customers while supporting its local communities through active participation and restorative justice programs. The Company
is evolving with the industry and is in the midst of a transformation to being significantly more customer-centric across its operations,
which include cultivation, manufacturing, wholesale and retail business lines. With our core operations strategically located in six limited-license
medical and adult-use markets, Vireo Growth cultivates and manufactures cannabis products in environmentally friendly greenhouses and
other facilities and distributes these products through our growing network of Green Goods™ and other Vireo Growth branded retail
dispensaries, as well as third-party dispensaries in the markets in which our subsidiaries hold operating licenses.

As of September 30,
2025, Vireo Growth, through its subsidiaries, has licenses and operates in six states, consisting of Maryland, Minnesota, Missouri, Nevada,
New York and Utah. Additionally, the Company has non-operating assets and liabilities in Nevada and Massachusetts. As of September 30,
2025, we retail cannabis products in 36 dispensaries located across Maryland (2), Minnesota (8), Missouri (11), Nevada (10) New York
(4), and Utah (1) and wholesales cannabis products, through third-party companies, in Maryland, Minnesota, Missouri, Nevada, New
York and Utah.

Our registered office
is located at 1012 West Hastings Street, Suite 2200, Vancouver, British Columbia V6E 0C3. Our head office is located at 207 South
Ninth Street, Minneapolis, Minnesota 55402.

History of the Company

Our business was established
in 2014 as Minnesota Medical Solutions, LLC (“Minnesota Medical Solutions”), and we received our first license
in December 2014. On January 1, 2018, all the equity of Minnesota Medical Solutions, and Empire State Health Solutions, LLC,
was acquired by Vireo Health, Inc. (“Vireo U.S.”) in an equity interest swap transaction.

The Company was incorporated
under the Business Corporations Act (Alberta) on November 23, 2004 as a capital pool company under