Company: VREOF
Filing Date: 2025-05-12
Form Type: 8-K
Source: 0001104659-25-047350
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Company: Vireo Growth Inc.
Filing Date: 2025-05-12
Form: 8-K
Item: Item 1.01
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Item 1.01.      Entry into a Material Definitive Agreement  

On May 12, 2025, Vireo Growth Inc. (“ Vireo”
or the “ Company”) entered into the Second Amendment to Merger Agreement (the “ Second Amendment” with Vireo WH
Merger Sub Inc. (“ Merger Sub”) and WholesomeCo, Inc. (“ Wholesome”), which amended the Agreement and Plan
of Merger, by and among the Company, Merger Sub, Wholesome, and Shareholder Representative Services LLC, a Colorado limited liability
company (solely in its capacity as representative, agent and attorney-in-fact of the Wholesome stockholders) (“ Representative”),
dated December 18, 2024 (as amended by the First Amendment to Merger Agreement dated March 17, 2025 and the Second Amendment, the
“ Merger Agreement”). Capitalized terms used herein without a definition have the meanings given to such terms in the Merger
Agreement.

The Second Amendment amended the definitions
of (i) “ Closing Indebtedness” and “ Closing Working Capital” in the Merger Agreement to provide that the calculations
of such amounts will be determined as of December 31, 2024 rather than the Closing Date (as defined below), (ii) “280E Tax Reserve
Shortfall and “ Arches Cash Surplus” in the Merger Agreement to provide that such amounts will be $0.00, and (iii) “ Post-Closing
Debt” in the Merger Agreement to clarify that such debt will (a) not take into account any post-Closing refinancing of Closing Indebtedness,
or any debt incurred by Wholesome or its subsidiaries in connection with a potential purchase after the Closing (the “ Higley Road
Purchase”) of the real property leased pursuant to that certain Agreement of Lease dated as of February 1, 2023, as amended by the
First Amendment to Lease Agreement dated May 12, 2025, by and between Wholesome AG, LLC, a wholly-owned subsidiary of Wholesome, and 6800
N. Higley Road, LLC (the “ Higley Road Lease”), and (b) be determined as of December 31, 2024 rather than the Closing Date.

The Second Amendment also amended the Merger
Agreement to clarify that certain increases in Wholesome’s EBITDA due to any