Company: VREOF
Filing Date: 2025-03-21
Form Type: DEFM14C
Source: 0001140361-25-009815
Chunk: 379

Company: Vireo Growth Inc.
Filing Date: 2025-03-21
Form: DEFM14C
Chunk 379
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,862 |     |    569,704 |
| Work in Progress               |     |  2,733,530 |     |  1,222,711 |
| Finished Goods                 |     |  2,403,362 |     |  3,438,625 |
|                                |     | $8,961,309 |     | $8,319,809 |
| Inventory Valuation Adjustment |     |          — |     | -1,200,000 |
| Total                          |     | $8,961,309 |     | $7,119,809 |

Packaging materials were written down during 2023 due to a change in packaging regulations issued by the regulators of Missouri. Inventory valuation adjustment included in cost of sales for the year ended December 31, 2023 was $1.2 million. As of December 31, 2024 and 2023, the inventory valuation adjustment was $0 and $1.2 million. In November 2024 the Company experienced a flood event in its main production facility. The Cost of involuntarily destroyed inventory was $624,043. No flood insurance policy was in place at the time.

| NOTE 3: | DEPOSITS |

|                                                                                                                                                                                                                                                                                                                         |     |       2024 |     |       2023 |
| On August 20, 2024, the Company entered into an agreement to acquire a dispensary license from ROI Wellness Center IV, LLC. The Company has requested a transfer of ownership with the Missouri Department of Health Senior Services. As part of the agreement, the Company made a deposit. (See Note 18 - Commitments) |     | $2,500,000 |     |            |
| On October 11, 2022, the Company entered into an agreement to acquire a dispensary in Kansas City, Missouri. The Missouri Department of Health Senior Services approved this transaction on February 7, 2024. As part of the agreement, the Company made a deposit. (See Note 16 - Acquisition)                         |     |          — |     | $2,000,000 |
|                                                                                                                                                                                                                                                                                                                         |     | $2,500,000 |     | $2,000,000 |

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TABLE OF CONTENTS

| NOTE 4: | NOTES RECEIVABLE |

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |     |       2024 |     |       2023 |
| Note Receivable - Nirvana