Company: VREOF
Filing Date: 2025-07-24
Form Type: 424B3
Source: 0001104659-25-070426
Chunk: 28

Company: Vireo Growth Inc.
Filing Date: 2025-07-24
Form: 424B3
Chunk 28
---
 Shares and Super Voting Shares are subdivided or consolidated in the same manner or such other adjustment is made,
so as to maintain and preserve the relative rights of the holders of the shares of each of the said classes.

Redemption Rights. The Company is, subject
to certain conditions, entitled to redeem Subordinate Voting Shares, Multiple Voting Shares or Super Voting Shares, as applicable, held
by certain shareholders in order to permit the Company to comply with applicable licensing regulations. These redemption rights are applicable
to each class of shares in the Company. See “Subordinate Voting Shares – Redemption Rights”.

<div align='center'>20

CERTAIN CANADIAN FEDERAL INCOME TAX CONSIDERATIONS</div>

The following
summarizes the principal Canadian federal income tax consequences applicable to the acquisition, holding, and disposition of Subordinate
Voting Shares by a holder who (1) is not, and is not deemed to be, a resident of Canada for the purposes of the Income Tax Act
(Canada) and the Income Tax Regulations (collectively, the “Tax Act”), (2) deals at arm’s length with the
Company and is not affiliated with the Company in each case for purpose of the Tax Act, (3) holds and beneficially owns such Subordinate
Voting Shares solely as capital property, (4) does not use or hold, and is not deemed to use or hold, the Subordinate Voting Shares
in connection with a business carried on, or deemed to be carried on, in Canada, and (5) has not entered into, with respect to the
Subordinate Voting Shares, a "derivative forward agreement", as that term is defined in the Tax Act , referred to in this summary
as a “U.S. Holder”.

This
summary is not applicable to a U.S. Holder that is (i) an insurer carrying on an insurance business in Canada and elsewhere, or (ii) an
“authorized foreign bank” (as defined in the Tax Act) or (iii) another U.S. Holder of special status. Such U.S. Holders
should consult their own Tax Advisors.

This
summary is based on the current provisions of the Tax Act, and an understanding of the current administrative policies of the Canada Revenue
Agency published in writing prior to the date hereof. It takes into account all specific proposals to amend the Tax Act and the Convention
Between Canada and the United States of America with Respect to Taxes on Income and on Capital, signed September