Company: VREOF
Filing Date: 2025-03-11
Form Type: PREM14C
Source: 0001140361-25-008065
Chunk: 251

Company: Vireo Growth Inc.
Filing Date: 2025-03-11
Form: PREM14C
Chunk 251
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Accounts payable and accrued liabilities’ and $477,355 already paid in cash. The remaining $1,449,636 of estimated transaction costs are expected to be incurred after December 31, 2024 (refer to adjustmentAAfor the impact of these additional estimated transaction costs). The remaining unpaid amount of $2,098,281 (consisting of the $648,645 transaction costs accrued as of December 31, 2024 and $1,449,636 expected to be incurred after December 31, 2024) will be paid in cash at the close of the Proper Mergers. |

| B | Represents the following preliminary adjustments related to applying the acquisition method of accounting given the Proper Mergers are being accounted for as a business combination under Accounting Standards Codification (“ASC”) Topic 805,Business Combinations(“ASC 805”): |

| B1 | Represents adjustments related to (1) the estimated preliminary purchase price allocation for the Proper Mergers, including the issuance of Vireo’s Subordinated Voting Shares to Proper as consideration transferred and (2) the recognition of acquired intangible assets and goodwill of $51,595,614. Refer to the table in Note 4 below for additional information related to these adjustments. |

| B2 | Represents the elimination of the Proper Companies’ historical equity as a result of the business combination by reclassifying the Proper Companies’ ‘Member’s equity’ balance of $30,337,678 to Additional paid-in capital. |

| C | Not used. |

| D | Not used. |

| E | Represents an assumed fair value of the contingent consideration for the potential forfeitures related to the Proper Forfeiture Shares, as defined below. No amount has been estimated for the Proper EBITDA Earn-Out Shares or the Proper E-Commerce Earn-Out Shares, as the accounting is expected to be finalized upon consummation of the Proper Mergers. Refer to Note 4 for additional information related to the Proper Forfeiture Shares, the Proper EBITDA Earn-Out Shares and the Proper E-Commerce Earn-Out Shares. |

Adjustments to Unaudited Pro Forma Condensed Combined Statement of Operations The pro forma adjustment included in the unaudited pro forma condensed combined statement of operations for the year ended December 31, 2024 is as follows:

| AA | Represents estimated remaining transaction costs not already reflected in the December 31, 2024 historical financial statements of Vireo of $1,449,636 as if