Company: VREOF
Filing Date: 2025-06-06
Form Type: 8-K
Source: 0001104659-25-057335
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Company: Vireo Growth Inc.
Filing Date: 2025-06-06
Form: 8-K
Item: Item 1.01
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Item 1.01.      Entry into a Material Definitive Agreement  

On June 5, 2025, Vireo Growth Inc. (“ Vireo”
or the “ Company”) entered into the Second Amendment to Merger Agreement (the “ Second Amendment”) with Vireo PR
Merger Sub Inc., a Missouri corporation (“ Merger Sub 1”), Vireo PR Merger Sub II Inc., a Missouri corporation (“ Merger
Sub 2” and together with Merger Sub 1, “ Merger Subs”), NGH Investments, Inc., a Missouri corporation (“ NGH”),
Proper Holdings Management, Inc., a Missouri corporation (“ MSA Newco” and together with NGH, the “ Acquired Companies”),
and Proper Holdings, LLC, a Missouri limited liability company (“ Holdings”), which amended the Agreement and Plan of Merger,
by and among the Company, Merger Subs, the Acquired Companies, Holdings, the Parent Share Recipients, and Shareholder Representative Services
LLC, a Colorado limited liability company (solely in its capacity as representative, agent and attorney-in-fact of Holdings and the Parent
Share Recipients) (“ Representative”), dated December 18, 2024 (as amended by the First Amendment to Merger Agreement
dated March 14, 2025 and the Second Amendment, the “ Merger Agreement”). Capitalized terms used herein without a definition
have the meanings given to such terms in the Merger Agreement.

The Second Amendment amended the definitions
of (i) “ Closing Indebtedness”, “ Closing Working Capital”, and “ Post-Closing Debt” in the Merger Agreement
to provide that the calculations of such amounts will be determined as of December 31, 2024 rather than the Closing Date (as defined below),
(ii) “280E Tax Reserve Shortfall” in the Merger Agreement to provide that such amount will be $0.00, and (iii) “ Company
Earn-Out Amount” to provide that Holdings will receive a $1,000,000 credit for purposes of the calculation of such amount.

The Second Amendment also amended the Merger
Agreement to require Holdings to transfer to Vireo or its affiliates for no additional consideration the non-regulated assets of Occidental
Group, Inc. (“ OGI”) to the extent such assets are acquired by New Growth Horizon, LLC, a Missouri limited liability company
and a subsidiary of Holdings (“ NGH”), after the Closing Date pursuant