Company: VREOF
Filing Date: 2025-03-07
Form Type: PRE 14C
Source: 0001140361-25-007601
Chunk: 360

Company: Vireo Growth Inc.
Filing Date: 2025-03-07
Form: PRE 14C
Chunk 360
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,436 |     | $2,156,389 |

5. Related-Party Line of Credit The Company has a line of credit with three related party lenders (Lenders), as amended on July 1, 2024, provides for a revolving line of credit with a borrowing limit of $2,000,000. The revolving line of credit bears interest at 13% and is due at the end of each month until the maturity date. As of December 31, 2024 and 2023, outstanding borrowings on the line of credit were $999,978, and $1,600,000, respectively, and the maturity date was amended to July 1, 2027. The line of credit is collateralized against substantially all of the Company’s assets and is subject to certain covenants. As of December 31, 2024, management believes the Company is in compliance with all covenants. In connection with the execution of the line of credit agreement the Company issued to the Lenders 1,579,766 Class A Common warrants with an exercise price of $0.01. The Company determined the warrants were an equity instrument representing a debt discount to be amortized over the initial term of the line of credit, which had an original maturity

B-33

#### TABLE OF CONTENTS
date of July 17, 2024. Amortization of the debt discount was $62,154 and $114,578 for the years ended December 31, 2024 and 2023, respectively and is included in interest expense on the consolidated statements of income. At inception the value of the warrants was $458,312. As of December 31, 2024 and 2023 the unamortized portion of the debt discount was $0 and $62,154, respectively.

#### 6. Long-Term Debt

#### Term Loan
The Company entered into a loan agreement with a lending institution on July 26, 2022 for up to $12,500,000 in the form of a term loan agreement (Term Loan). Interest accrues at a rate of 11.25% per annum and is due monthly. Repayment of principal and interest begins on August 26, 2023. The term loan matures on July 26, 2027. As of December 31, 2024 and 2023, the balance on the Term Loan was $8,703,774 and $11,448,