Company: VREOF
Filing Date: 2025-12-09
Form Type: S-3
Source: 0001104659-25-119699
Chunk: 39

Company: Vireo Growth Inc.
Filing Date: 2025-12-09
Form: S-3
Chunk 39
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 made to foreign financial institutions (including amounts paid to a
foreign financial institution on behalf of a holder) and certain other non-financial foreign entities. Additionally, a 30% withholding
tax may apply to payments of gross proceeds from the disposition of stock made to such institutions and entities; however, proposed Treasury
regulations eliminate this 30% withholding tax on payments of gross proceeds. Taxpayers may rely on these proposed Treasury regulations
until final Treasury regulations are issued. There can be no assurance that final Treasury regulations would provide an exemption from
FATCA for gross proceeds.

Withholding under FATCA
generally will not apply where such payments are made to (i) a foreign financial institution that undertakes, under either an agreement
with the United States Treasury or pursuant to an intergovernmental agreement between the jurisdiction in which it is a resident and the
United States Treasury, to identify accounts held by certain United States persons or United States-owned foreign entities, annually report
certain information about such accounts, and withhold 30% on payments to noncompliant foreign financial institutions and certain other
account holders; (ii) a non-financial foreign entity that either certifies it does not have any substantial United States owners
or furnishes identifying information regarding each substantial United States owner to the United States Treasury; or (iii) a foreign
financial institution or non-financial foreign entity that is exempt from these rules. Investors should consult their tax advisors regarding
this legislation and the regulations thereunder.

<div align='center'>25

SELLING SECURITYHOLDERS</div>

This prospectus relates to the resale by the Selling
Securityholders from time to time of up to 114,807,815 of our Subordinate Voting Shares. The Selling Securityholders may from time to
time offer and sell any or all of the Subordinate Voting Shares set forth below pursuant to this prospectus and any accompanying prospectus
supplement. As used in this prospectus, the term “Selling Securityholders” includes the persons listed in the table below,
together with any additional selling securityholders listed in a subsequent amendment to this prospectus, and their pledgees, donees,
transferees, assignees, successors, designees and others who later come to hold any of the Selling Securityholders’ interests in
the Subordinate Voting Shares, other than through a public sale.

Except as set forth in the footnotes below, the
following table sets forth, based on written representations from the Selling Securityholders,