Company: VREOF
Filing Date: 2025-07-15
Form Type: S-3
Source: 0001104659-25-068137
Chunk: 38

Company: Vireo Growth Inc.
Filing Date: 2025-07-15
Form: S-3
Chunk 38
---
.S. withholding tax pursuant to an income tax treaty may obtain a
refund of any excess amounts withheld by timely filing an appropriate claim for refund with the IRS.

Gain on Sale, Taxable Exchange or Other Taxable Disposition of Subordinate Voting Shares

Subject to the discussions below under “Taxation
of Non-U.S. Holders—Information Reporting and Backup Withholding,” and “Taxation of Non-U.S. Holders—Foreign Account
Tax Compliance Act”, a Non-U.S. Holder generally will not be subject to U.S. federal income or withholding tax in respect of gain
recognized on a sale, taxable exchange or other taxable disposition of a Subordinate Voting Share, unless:

| · | the gain is effectively connected with the conduct of a trade or business by the Non-U.S. Holder within                                     
 the United States (and, if an applicable tax treaty so requires, is attributable to a U.S. permanent establishment or fixed base maintained 
 by the Non-U.S. Holder);                                                                                                                    |

| · | the Non-U.S. Holder is an individual who is present in the United States for 183 days or more in the taxable 
 year of disposition and certain other conditions are met; or                                                 |

Gain described in the first bullet point above
will be subject to tax at generally applicable U.S. federal income tax rates. Any gains described in the first bullet point above of a
Non-U.S. Holder that is a foreign corporation may also be subject to an additional “branch profits tax” at a 30% rate (or
lower applicable treaty rate). Gain described in the second bullet point above generally will be subject to a flat 30% U.S. federal income
tax. Non-U.S. Holders are urged to consult their own tax advisors regarding possible eligibility for benefits under income tax treaties
and the availability of U.S. source capital losses to offset gain described in the second bullet point.

If the third bullet point above applies to a Non-U.S.
Holder, gain recognized by such holder on the sale, taxable exchange or other disposition of Subordinate Voting Shares will be subject
to tax at generally applicable U.S. federal income tax rates. In addition, a buyer of Subordinate Voting Shares from such holder may be
required to withhold U.S. income tax at a rate of 15% of the amount realized upon such disposition. The Company has not performed any
analysis to determine whether it is currently, or has ever been, a USRPHC. You are urged to consult your