Company: VREOF
Filing Date: 2025-03-11
Form Type: PREM14C
Source: 0001140361-25-008065
Chunk: 383

Company: Vireo Growth Inc.
Filing Date: 2025-03-11
Form: PREM14C
Chunk 383
---
 Capital Adjustment |     | $4,467,888 |

| NOTE 17: | AFFILIATES |

The following information presents information regarding affiliates that been determined to be a Variable Interest Entity (VIE) which are included in the consolidated financial statements. All of these entities were determined to be VIEs as the Company possesses the power to direct activities through a Manage Service Agreement (MSA). (See Note 3 – Deposits, Note 4 - Notes Receivable and Note 18 – Commitments). On July 6, 2023, the Company entered into a Member Interest Purchase Agreement with the Members of Nirvana Investments LLC and all subsidiaries and a Management Service Agreement of Nirvana Investments LLC. The purchase agreement has not closed as of December 31, 2024. On February 14, 2024, the Company entered into an Asset Purchase Agreement and a Management Service Agreement with Occidental Group, Inc. The purchase agreement has not closed as of December 31, 2024. On February 7, 2024, the Company completed the acquisition of SLCC, LLC, a single dispensary operation located in Kansas City, MO. SLCC, LLC was determined to be a VIE during the year ended December 31, 2023. (See Note 16 – Acquisition). The following table presents summarized financial information about the Companies affiliates as of and for the years ended December 31, 2024 and December 31, 2023:

|                                          |     | As of December 31, |     |            |
|                                          |     |               2024 |     |       2023 |
| Included in Consolidated Balance Sheets: |     |                    |     |            |
| Current Assets                           |     |         $5,482,847 |     | $6,415,129 |
| Non-Current Assets                       |     |          3,691,743 |     |  4,035,406 |
| Current Liabilities                      |     |          3,831,034 |     |  4,199,841 |
| Non-Current Liabilities                  |     |          3,623,487 |     |  3,952,574 |
| Equity attributable to the Company       |     |          1,720,069 |     |  2,298,120 |

Included in Consolidated Statement of Operations:

|                         |     | Year Ended December 31, 
                    2024 |     |