Company: VREOF
Filing Date: 2025-12-09
Form Type: S-3
Source: 0001104659-25-119699
Chunk: 21

Company: Vireo Growth Inc.
Filing Date: 2025-12-09
Form: S-3
Chunk 21
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 prospectus, as updated by our subsequent
filings under the Exchange Act, and the risk factors and other information contained in the applicable prospectus supplement or any free
writing prospectus. The risks and uncertainties we have described are not the only risks that we face. Additional risks and uncertainties
not presently known to us or that we currently deem immaterial may also affect our operations. These risks, both known or unknown, could
materially affect our business, results of operations or financial condition and cause the value of our Subordinate Voting Shares to decline.
You could lose all or part of your investment.

Risks Related to the Resales by Selling Securityholders

Sales of substantial amounts of Subordinate Voting Shares by a Selling Securityholder, or the perception that sales could occur, could adversely affect the price of our Subordinate Voting Shares.

The sale by the Selling Securityholders of a significant
number of Subordinate Voting Shares could have a material adverse effect on the market price of our Subordinate Voting Shares. In addition,
the perception in the public markets that the Selling Securityholders may sell all or a portion of their Subordinate Voting Shares as
a result of the registration of such Subordinate Voting Shares for resale pursuant to this prospectus could also in and of itself have
a material adverse effect on the market price of our Subordinate Voting Shares. We cannot predict the effect, if any, that market sales
of those Subordinate Voting Shares or the availability of those Subordinate Voting Shares for sale will have on the market price of our
Subordinate Voting Shares.

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USE OF PROCEEDS</div>

We are not selling Subordinate Voting Shares under
this prospectus and we will not receive any of the proceeds from the sale or other disposition of our Subordinate Voting Shares by the
Selling Securityholders. The Selling Securityholders will receive all of the proceeds from this offering. The Selling Securityholders
will pay any underwriting discounts and commissions and expenses incurred by them for brokerage, accounting, tax or legal services or
any other expenses incurred by the Selling Securityholders in disposing of the Subordinate Voting Shares. We will bear all other costs,
fees and expenses incurred in effecting the registration of the Subordinate Voting Shares covered by this prospectus, including all registration
and filing fees, and fees and expenses for our counsel and our independent registered public accountants.

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DESCRIPTION OF CAPITAL STOCK</div>

Description of the Company’s Securities

The Company is authorized to