Company: VREOF
Filing Date: 2025-06-12
Form Type: 8-K
Source: 0001104659-25-058908
Chunk: 2

Company: Vireo Growth Inc.
Filing Date: 2025-06-12
Form: 8-K
Item: Item 2.01
Chunk 2
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Item 2.01.      Completion of Acquisition or Disposition of Assets  

As previously announced, on December 18, 2024, Vireo, Merger Sub, Deep
Roots, and Representative entered into the Merger Agreement. On June 6, 2025 (the “ Closing Date”), Vireo completed its
previously announced acquisition of Deep Roots pursuant to a merger whereby Merger Sub merged with and into Deep Roots (the “ Merger”).

In connection with the Merger, Deep Roots became a wholly owned subsidiary
of Vireo. Pursuant to the Merger Agreement, the Company issued 243,307,696 Parent Shares in respect of the
Estimated Closing Merger Consideration in connection with the Merger, which number of Parent Shares is equal to the amount of the Estimated
Closing Merger Consideration divided by $0.52. 218,976,927 of such Parent Shares were delivered to
Odyssey Trust Company in its capacity as payment agent for further distribution to the former Deep Roots stockholders as the Closing Share
Payment, and24,330,769 Parent Shares (representing 10% of the aggregate number of Parent Shares issued
as part of the Estimated Closing Merger Consideration) were delivered to Odyssey Trust Company in its capacity as escrow agent. The Parent Shares issued pursuant to the Merger Agreement (excluding the Parent Shares issued in respect of the Compensatory Award) are
subject to a post-closing purchase price adjustment with respect to certain of the estimated items included in the Estimated Closing Merger
Consideration, and the Deep Roots stockholders (other than in respect of the Compensatory Award) are also eligible to receive additional
Parent Shares pursuant to certain earn-out payments as described in the Merger Agreement and summarized below.

Pursuant to rules adopted by the Securities and Exchange Commission
(the “ SEC”) under the Securities Exchange Act of 1934, as amended (the “ Exchange Act”), a Schedule DEFM 14C information
statement was prepared by the Company and filed with the SEC and mailed to the shareholders of the Company on March 21, 2025 relating
to the Merger (the “ Information Statement”).

The consideration paid to acquire Deep Roots was based in part on the
product of an Acquisition Multiple of 4.175 multiplied by the Closing EBITDA of $30,000,000 and a $0.52 share reference price for the
Parent Shares. For more information on the