Company: VREOF
Filing Date: 2025-03-21
Form Type: DEFM14C
Source: 0001140361-25-009815
Chunk: 266

Company: Vireo Growth Inc.
Filing Date: 2025-03-21
Form: DEFM14C
Chunk 266
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 made to align Deep Roots’, the Proper Companies’, and Wholesome’s financial statement presentation with that of Vireo. Note 3. Adjustments to Unaudited Pro Forma Condensed Combined Financial Information The unaudited pro forma condensed combined financial information has been prepared to illustrate the effect of the Mergers and related transactions and has been prepared for informational purposes only.

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The following unaudited pro forma condensed combined financial information has been prepared in accordance with Article 11 of Regulation S-X as amended by the final rule, Release No. 33-10786 “Amendments to Financial Disclosures about Acquired and Disposed Businesses.” Release No. 33-10786 replaces the existing pro forma adjustment criteria with simplified requirements to depict the accounting for the transaction (“Transaction 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, Deep Roots, the Proper Companies, and Wholesome have each not had any historical relationship prior to the Mergers, other than the Proper Companies’ and Wholesome’s investment in Arches. Accordingly, pro forma adjustments were required to eliminate activities between the Proper Companies and Wholesome. Refer to adjustments B2, G, and CCbelow for the impact on the unaudited pro forma condensed combined financial information. 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 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 $7,726,909, which include advisory, banking, legal and due diligence fees that will be expensed as part of the Mergers. Of the total estimated transaction costs, $3,378,001 has been incurred and is therefore reflected within Vireo’s December 31, 2024 historical financial statements as follows: $1,945,934 recorded in ‘