Company: VREOF
Filing Date: 2025-03-07
Form Type: PRE 14C
Source: 0001140361-25-007601
Chunk: 252

Company: Vireo Growth Inc.
Filing Date: 2025-03-07
Form: PRE 14C
Chunk 252
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 simplified requirements to depict the accounting for the transaction (“Transaction

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Accounting Adjustments”) and present the reasonably estimable synergies and other transaction effects that have occurred or are reasonably expected to occur (“Management’s Adjustments”). Vireo has elected not to present Management’s Adjustments and will only be presenting Transaction Accounting Adjustments in the unaudited pro forma condensed combined financial information. Vireo and the Proper Companies have not had any historical relationship prior to the Proper Mergers. Accordingly, no pro forma adjustments were required to eliminate activities between the companies. The pro forma basic and diluted net loss per share amount presented in the unaudited pro forma condensed combined statement of operations is based upon the pro forma number of shares of Vireo stock outstanding, assuming the Proper Mergers and related transactions occurred on January 1, 2024. Adjustments to Unaudited Pro Forma Condensed Combined Balance Sheet The pro forma adjustments included in the unaudited pro forma condensed combined balance sheet as of December 31, 2024 are as follows:

| A | Represents Vireo’s total estimated transactions costs of $2,575,636, which include advisory, banking, legal and due diligence fees that will be expensed as part of the Proper Mergers. Of the total estimated transaction costs, $1,126,000 has been incurred and is therefore and reflected within Vireo’s December 31, 2024 historical financial statements as follows: $648,645 recorded in ‘Accounts payable and accrued liabilities’ and $477,355 already paid in cash. The remaining $1,449,636 of estimated transaction costs are expected to be incurred after December 31, 2024 (refer to adjustmentAAfor the impact of these additional estimated transaction costs). The remaining unpaid amount of $2,098,281 (consisting of the $648,645 transaction costs accrued as of December 31, 2024 and $1,449,636 expected to be incurred after December 31, 2024) will be paid in cash at the close of the Proper Mergers. |

| B | Represents the following preliminary adjustments related to applying the acquisition method of accounting given the Proper Mergers are being accounted for as a business combination under Accounting Standards Codification (“ASC”) Topic 805,Business Combinations(“ASC 805”): |

| B1 | Represents adjustments related to (1) the estimated preliminary purchase price allocation for the Proper Merg