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

Company: Vireo Growth Inc.
Filing Date: 2025-12-09
Form: S-3
Chunk 25
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 accompanied by proper instruments of transfer,
(v) a copy of the Valuation Opinion (as defined below) if the Company is no longer listed on the CSE or another recognized securities
exchange, and (vi) any other requirement of surrender of the redeemed shares. The redemption notice will be sent to the Unsuitable
Person not less than 30 trading days prior to the redemption date, except as otherwise provided below. The Company will send a written
notice confirming the amount of the redemption price as soon as possible following the determination of such redemption price. The redemption
notice may be conditional such that the Company need not redeem Shares on the redemption date if the Board of Directors determines, in
its sole discretion, that such redemption is no longer advisable or necessary.

For purposes of the foregoing, “Unsuitable Person Redemption Price” means: (i) in the case of Subordinate Voting Shares, the volume-weighted average trading price
of Subordinate Voting Shares during the five (5) trading day period immediately after the date of the redemption notice on the CSE
or other national or regional securities exchange on which Subordinate Voting Shares are listed; (ii) in the case of Multiple Voting
Shares or Super Voting Shares, the amount determined under (i) multiplied by the Conversion Ratio in effect at the time the redemption
notice is delivered, or (iii) if no such quotations are available, the fair market value per share of such Subordinate Voting Shares
and/or Multiple Voting Shares as set forth in a valuation and fairness opinion (the “Valuation Opinion”) from an investment
banking firm of nationally recognized standing in Canada (qualified to perform such task and which is disinterested in the contemplated
redemption and has not in the then past two years provided services for a fee to the Company or its affiliates) or a disinterested nationally
recognized accounting firm.

The redemption date will be not less than 30 trading
days from the date of the redemption notice unless a governmental authority requires that Shares be redeemed as of an earlier date, in
which case the redemption date will be such earlier date, and if there is an outstanding redemption notice, the Company will issue an
amended redemption notice reflecting the new redemption date forthwith.

From and after the date the redemption notice
is delivered, an Unsuitable Person owning Shares called for redemption will cease to have any voting rights. From and after the redemption
date, any and all rights of any nature which may be held by an Unsuitable Person with respect to such person’s