Company: VREOF
Filing Date: 2025-12-09
Form Type: S-3
Source: 0001104659-25-119699
Chunk: 36

Company: Vireo Growth Inc.
Filing Date: 2025-12-09
Form: S-3
Chunk 36
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 its U.S. dollar value on the date of receipt. Any U.S. Holder who converts or otherwise disposes of the
foreign currency after the date of receipt may have a foreign currency exchange gain or loss that would be treated as ordinary income
or loss, and generally will be U.S. source income or loss for foreign tax credit purposes. Different rules apply to U.S. Holders
who use the accrual method of tax accounting. Each U.S. Holder should consult its own U.S. tax advisors regarding the U.S. federal income
tax consequences of receiving, owning, and disposing of foreign currency.

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Information Reporting and Backup Withholding

In general, information reporting requirements
may apply to dividends paid to a U.S. Holder and to the proceeds of the sale or other disposition of the Subordinate Voting Shares, unless
the U.S. Holder is an exempt recipient. Backup withholding may apply to such payments if the U.S. Holder fails to provide a taxpayer identification
number (generally, on a properly completed IRS Form W-9) or a certification of exempt status, or has been notified by the IRS that
it is subject to backup withholding (and such notification has not been withdrawn). Backup withholding is not an additional tax. Any amounts
withheld under the backup withholding rules may be allowed as a refund or a credit against the U.S. Holder’s U.S. federal income
tax liability, provided that the holder timely furnishes the required information to the IRS.

Taxation of Non-U.S. Holders

Distributions on Subordinate Voting Shares

If the Company makes distributions with respect
to a Subordinate Voting Share, the distributions generally will be treated as dividends to a Non-U.S. Holder of a Subordinate Voting Share
to the extent of the Company’s current and accumulated earnings and profits as determined under U.S. federal income tax principles
at the end of the tax year in which the distribution occurs. To the extent the distributions exceed the Company’s current and accumulated
earnings and profits, the excess will be treated first as a tax-free return of capital to the extent of the Non-U.S. Holder’s adjusted
tax basis in the Subordinate Voting Share, and thereafter as gain from the sale or exchange of that Subordinate Voting Share.

Dividends paid to a Non-U.S. Holder generally
will be subject to U.S. withholding tax at a rate of 30% of the gross amount, unless the Non-U.S.