Company: VREOF
Filing Date: 2025-03-07
Form Type: PRE 14C
Source: 0001140361-25-007601
Chunk: 367

Company: Vireo Growth Inc.
Filing Date: 2025-03-07
Form: PRE 14C
Chunk 367
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                |     |       |     |       |
| Operating leases                              |     | 9.45% |     | 2.91% |

The following table reconciles the undiscounted future cash flows for the next five years and thereafter to the operating lease obligations recorded within the consolidated balance sheet as of December 31, 2024:

| Years Ending December 31,        |     |            |
| 2025                             |     | $1,329,842 |
| 2026                             |     |  1,370,430 |
| 2027                             |     |  1,412,755 |
| 2028                             |     |  1,455,751 |
| 2029                             |     |  1,499,607 |
| Thereafter                       |     |  6,251,453 |
| Total lease payments             |     | 13,319,838 |
| Less: interest                   |     | -4,744,796 |
| Present value of lease liability |     | $8,575,042 |

Cash payments included in the measurement of the operating lease liability for the year ended December 31, 2024 was $857,297. Rental expense under operating leases was $1,421,777 and $918,778 for the years ended December 31, 2024, and 2023, respectively, and is included in selling, general and administrative expenses in the consolidated statements of income. 9. Related Party Transactions During 2023, the Company entered into a 10-year lease agreement for property in Grantsville, Utah that is owned by members of the Company. During 2024 and 2023, lease payments totaled $398,744 and $276,767, respectively. See Note 5 and 6 for related-party line of credit and long-term debt transactions.

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TABLE OF CONTENTS

Arches issued Series 2 preferred stock to a noncontrolling interest investor (See Note 7) who is also a customer of Arches. For the year ended December 31, 2024, no revenue was recognized from this customer; however, as of December 31, 2024, the Company has $312,500 of deferred revenue from this customer classified in accrued liabilities on the consolidated balance sheet. 10. Retirement Plan The Company sponsors a defined contribution 401(k) retirement plan (the Retirement Plan). Employees who have completed two months of service and are