Company: VREOF
Filing Date: 2025-03-07
Form Type: PRE 14C
Source: 0001140361-25-007601
Chunk: 259

Company: Vireo Growth Inc.
Filing Date: 2025-03-07
Form: PRE 14C
Chunk 259
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 the beginning of the period presented, the calculation of weighted average shares outstanding for basic and diluted net loss per share assumes that the shares issuable relating to the Proper Mergers have been outstanding for the entirety of the period presented.

|                                                            |     |   For the Year Ended 
 December 31, 2024(1) |
| Numerator:                                                 |     |                      |
| Pro forma net loss                                         |     |        $(22,108,869) |
| Denominator:                                               |     |                      |
| Weighted average shares outstanding – basic and diluted(2) |     |          358,507,665 |
| Net loss per share:                                        |     |                      |
| Basic and diluted                                          |     |              $(0.06) |
| Excluded securities(2)                                     |     |                      |
| Options                                                    |     |           31,232,633 |
| Restricted stock units                                     |     |           11,327,530 |
| Warrants                                                   |     |           18,957,212 |
| Shares issuable to convertible debt holders                |     |           16,000,000 |
| Proper EBITDA Earn-Out Shares(3)                           |     |                    — |
| Proper E-Commerce Earn-Out Shares(4)                       |     |                    — |

| (1) | Pro forma net loss per share includes the related pro forma adjustments as referred to within the section “Unaudited Pro Forma Condensed Combined Financial Information.” |

| (2) | The potentially dilutive outstanding securities were excluded from the computation of pro forma net loss per share, diluted, because their effect would have been anti-dilutive. |

| (3) | Represents shares that may potentially be issued to the Proper Share Recipients under the earn-out provisions within Section 2.19 of the Proper Merger Agreement. The potential number of Proper EBITDA Earn-Out Shares is currently not determinable. |

| (4) | Represents shares that may be potentially issued to the Proper Share Recipients under the e-commerce earn-out provisions within Section 2.20 of the Proper Merger Agreement. The potential number of Proper E-Commerce Earn-Out Shares is currently not determinable. |

Consolidated Pro Forma Effects the Mergers On December 18, 2024, Vireo Growth Inc. (the “Company” or “Vireo”) entered into merger agreements (the “Merger Agreements”) with each of (i) Deep