Company: VREOF
Filing Date: 2025-03-11
Form Type: PREM14C
Source: 0001140361-25-008065
Chunk: 368

Company: Vireo Growth Inc.
Filing Date: 2025-03-11
Form: PREM14C
Chunk 368
---
 |  $20,483,601 |
| CASH AND CASH EQUIVALENTS - Beginning of Year                                                  |     |    23,523,055 |     |    3,039,454 |
| CASH AND CASH EQUIVALENTS - End of Year                                                        |     |   $15,692,405 |     |  $23,523,055 |

See Independent Auditors’ Report and the Notes to Financial Statements B-49

TABLE OF CONTENTS

| NOTE 1: | NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |

Nature of Business Proper Holdings, LLC, Subsidiaries and Affiliates, (the Company) was organized as domestic business corporation on October 10, 2019 and is engaged in the business of operating a vertically integrated adult-use cannabis operation under the State of Missouri, Department of Health and Senior Services. Beginning in 2021, the Company began to cultivate, manufacture, and dispense marijuana and marijuana-infused products. Principles of Consolidation The consolidated financial statements include the accounts of the following entities:

|                                           |     | Ownership % |     |      |
| Business Name                             |     |        2024 |     | 2023 |
| Proper Holdings, LLC                      |     |        100% |     | 100% |
| New Growth Horizon, LLC                   |     |        100% |     | 100% |
| NGH Investments, LLC                      |     |        100% |     | 100% |
| SLCC, LLC                                 |     |        100% |     |    — |
| Nirvana Investments, LLC and Subsidiaries |     |           — |     |    — |
| Occidental Group, Inc.                    |     |           — |     |    — |

All significant intercompany balances and transactions have been eliminated in consolidation. See Note 16 – Affiliates and Note 17 – Commitments for details. Basis of Accounting The consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP). Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Actual results could differ from those estimates. Fair Value Measurement The estimated fair values of the Company’s short-term financial instruments, including receivables and payables arising in the ordinary court of business, approximate their individual