Company: VREOF
Filing Date: 2025-12-09
Form Type: S-3
Source: 0001104659-25-119699
Chunk: 29

Company: Vireo Growth Inc.
Filing Date: 2025-12-09
Form: S-3
Chunk 29
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 on behalf of the
holder. Should the Subordinate Voting Shares issued upon conversion and tendered in response to the offer be withdrawn by shareholders
or not taken up by the offeror, or should the offer be abandoned, withdrawn or terminated by the offeror or the offer otherwise expires
without such Subordinate Voting Shares being taken up and paid for, the Subordinate Voting Shares resulting from the conversion shall
be automatically reconverted, without further intervention on the part of the Company or on the part of the holder, into Multiple Voting
Shares at the inverse of the Conversion Ratio then in effect.

Change in Control. No subdivision or consolidation
of the Subordinate Voting Shares, Multiple Voting Shares or Super Voting Shares shall occur unless, simultaneously, the Subordinate Voting
Shares, Multiple Voting 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”.

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CERTAIN CANADIAN FEDERAL INCOME TAX CONSIDERATIONS</div>

The following
summarizes certain 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