Company: VREOF
Filing Date: 2025-03-07
Form Type: PRE 14C
Source: 0001140361-25-007601
Chunk: 153

Company: Vireo Growth Inc.
Filing Date: 2025-03-07
Form: PRE 14C
Chunk 153
---
ise held a call to discuss potential structures for the acquisition of Deep Roots by the Company. Representatives of Deep Roots and TrueRise requested to receive additional details, including with respect to potential structures, and at a high level, transaction economics and considerations, along with preliminary perspectives on the pro-forma profile.

On June 5, 2024, representatives of the Company, Chicago Atlantic and each of Wholesome and Proper held a call to discuss the potential acquisition of Wholesome and Proper by the Company and the structuring of MOUs to be prepared by the Company and Chicago Atlantic and delivered to each of Wholesome and Proper.

On June 7, 2024, Moelis, the Company’s financial advisor in relation to the transactions, and the Company’s management held a kick-off call to discuss certain structuring and procedural considerations in relation to the proposed transactions.

Also on or about June 7, 2024, the Company and Chicago Atlantic provided separate draft non-binding MOUs to representatives of each of Proper and Bill’s Nursery. Each MOU provided for the acquisition by the Company of each

<div align='center'>83</div>

#### TABLE OF CONTENTS
such target, under which the equity holders of Proper and Bill’s Nursery would receive Company Subordinate Voting Shares, the amount of which would be determined in part upon the basis of a multiple of 4 times such target’s EBITDA. Each MOU also provided for a potential earn-out payable in Company Subordinate Voting Shares, as well as potential forfeiture of such Subordinate Voting Shares, based on future performance of the applicable target.

On or about June 10, 2024, the Company and Chicago Atlantic provided two draft non-binding MOUs to representatives of Wholesome. The first MOU provided for the acquisition by the Company of Wholesome, under which the stockholders of Wholesome would receive Company Subordinate Voting Shares, the amount of which would be determined in part upon the basis of a multiple of 4 times Wholesome’s EBITDA, as well as a potential earn-out payable in Company Subordinate Voting Shares and a potential forfeiture of such Subordinate Voting Shares, in each case based on future performance of Wholesome. The second MOU provided for the acquisition of Arches (a non-wholly owned subsidiary of Wholesome) at a valuation of $14 million, with consideration payable in Company Subordinate Voting Shares, as well as a potential earn-out payable in Company Subordinate Voting Shares and a