Company: VREOF
Filing Date: 2025-03-21
Form Type: DEFM14C
Source: 0001140361-25-009815
Chunk: 344

Company: Vireo Growth Inc.
Filing Date: 2025-03-21
Form: DEFM14C
Chunk 344
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369,412 |
| 2029                     |     |    1,369,412 |
| Thereafter               |     |   13,439,002 |
| Total                    |     |  $20,286,062 |

| 8. | GOODWILL |

As of December 31, 2024, goodwill consisted of the following:

| Balance as of January 1, 2024      |     |   Goodwill 
         $— |
|:-----------------------------------|:----|-----------:|
| Addition from business combination |     |  6,537,500 |
| Balance as of December 31, 2024    |     | $6,537,500 |
| Accumulated Amortization           |     |            |
| Balance as of January 1, 2024      |     |         $— |
| Amortization                       |     |    121,795 |
| Balance as of December 31, 2024    |     | $6,415,705 |

There was no goodwill as of December 31, 2023. The Company recoded amortization expense for goodwill of $121,795 for the year ended December 31, 2024. The following table outlines the estimated annual amortization expense related to goodwill as of December 31, 2024, which is subject to amortization of 10 years.

| Year Ending December 31, 
 2025                     |     |    Estimated 
 Amortization 
     $653,750 |
|:-------------------------|:----|-------------:|
| 2026                     |     |      653,750 |
| 2027                     |     |      653,750 |
| 2028                     |     |      653,750 |
| 2029                     |     |      653,750 |
| Thereafter               |     |    3,146,955 |
| Total                    |     |   $6,415,705 |

| 9. | NOTE PAYABLE |

The Company has a loan and security agreement with a lender with an aggregate commitment of $20,000,000. The note bears interest at the prime rate (7.5% at December 31, 2024) with a floor of 8% plus 6.5%. The effective interest rate as of December 31, 2024 was 14.5%. The balance is due on August 15, 2027 and $2