Company: VREOF
Filing Date: 2025-07-15
Form Type: S-3
Source: 0001104659-25-068137
Chunk: 7

Company: Vireo Growth Inc.
Filing Date: 2025-07-15
Form: S-3
Chunk 7
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. Because
actual results may differ materially from those expressed or implied by these forward-looking statements, we caution readers not to place
undue reliance on these statements. Any forward-looking statement speaks only as of the date on which that statement is made. Vireo Growth
assumes no obligation to update any forward-looking statement to reflect events or circumstances that occur after the date on which the
statement is made.

The factors that could cause actual results to
differ materially from our expectations, assumptions and beliefs, include, but are not limited to, the risks described under “Risk Factors” and the following:

● Marijuana remains illegal under U.S. federal
law.

● U.S. state and local regulation of cannabis
is uncertain and changing. New state or local laws may be enacted which affect our product offerings or manufacturing processes.

● We are involved in litigation with Verano
Holdings Inc., the outcome of which is uncertain.

● Cannabis businesses are subject to applicable
anti-money laundering laws and regulations and have restricted access to banking and other financial services. Recent events in the banking
industry may further restrict our ability to access financial services including obtaining traditional bank financing.

● We operate in a highly regulated sector
and may not always succeed in complying fully with applicable regulatory requirements in all jurisdictions where we carry on business.

● Investors in the Company who are not U.S.
citizens may be denied entry into the United States.

● The Company and its merger targets may
not integrate successfully.

● It may be challenging for the Company
to service the additional indebtedness incurred as a result of the recent mergers.

● Our shareholders may not realize a benefit
from the recent mergers commensurate with the ownership dilution they experienced in connection with the mergers.

● The stockholders of Deep Roots Holdings,
Inc., the stockholders of WholesomeCo, Inc., and Proper Holdings, LLC in its capacity as the sole shareholders of each of Proper Holdings
Management, Inc. and NGH Investments, Inc. and the equityholders of Proper Holdings, LLC and other subsequent recipients of the Company’s
subordinate voting shares from Proper Holdings, LLC pursuant to the Proper merger agreement, have agreed or will agree to indemnify the
Company for certain damages arising from certain of the representations, warranties, covenants, and agreements of each of these entities,
respectively, in each case as set forth in the merger agreements. However, there can be no assurance that these indemnities will be sufficient
to make the Company whole for