Company: VREOF
Filing Date: 2025-03-21
Form Type: DEFM14C
Source: 0001140361-25-009815
Chunk: 246

Company: Vireo Growth Inc.
Filing Date: 2025-03-21
Form: DEFM14C
Chunk 246
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TABLE OF CONTENTS

2024. As the Wholesome Merger is being reflected as if it had occurred at the beginning of the period presented, the calculation of weighted average shares outstanding for basic and diluted net loss per share assumes that the shares issuable relating to the Wholesome Merger have been outstanding for the entirety of the period presented.

|                                                            |     |   For the Year Ended 
 December 31, 2024(1) |
| Numerator:                                                 |     |                      |
| Pro forma net loss attributable to common shareholders     |     |        $(22,610,966) |
| Denominator:                                               |     |                      |
| Weighted average shares outstanding – basic and diluted(2) |     |          310,938,604 |
| Net loss per share:                                        |     |                      |
| Basic and diluted                                          |     |              $(0.07) |
| Excluded securities(2)                                     |     |                      |
| Options                                                    |     |           31,232,633 |
| Restricted stock units                                     |     |           11,327,530 |
| Warrants                                                   |     |           18,957,212 |
| Shares issuable to convertible note holders                |     |           16,000,000 |
| Wholesome EBITDA Earn-Out Shares(3)                        |     |                    — |
| Wholesome E-Commerce Earn-Out Shares(4)                    |     |                    — |

| (1) | Pro forma net loss per share includes the related pro forma adjustments as referred to within the section “Unaudited Pro Forma Condensed Combined Financial Information.” |

| (2) | The potentially dilutive outstanding securities were excluded from the computation of pro forma net loss per share, diluted, because their effect would have been anti-dilutive. |

| (3) | Represents shares that may potentially be issued to Wholesome shareholders under the earn-out provisions within Section 2.19 of the Wholesome Merger Agreement. The potential number of Wholesome EBITDA Earn-Out Shares is currently not determinable. |

| (4) | Represents shares that may potentially be issued to Wholesome shareholders under the e-commerce earn-out provisions within Section 2.20 of the Wholesome Merger Agreement. The potential number of Wholesome E-Commerce Earn-Out Shares is currently not determinable. |

Proper Mergers On December