Company: VREOF
Filing Date: 2025-03-21
Form Type: DEFM14C
Source: 0001140361-25-009815
Chunk: 31

Company: Vireo Growth Inc.
Filing Date: 2025-03-21
Form: DEFM14C
Chunk 31
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 amount when it becomes due, which could have an adverse effect on the Company.

The Company’s shareholders will have a reduced ownership and voting interest in, and will exercise less influence over the management of, a combined company following the completion of the Mergers as compared to their current ownership and voting interests.

After the completion of the Mergers, the current shareholders of the Company will own a smaller percentage of the Company than their ownership prior to the Mergers. Thus, our existing stockholders bear the risk of the Mergers and the resulting Share Issuance diluting their stock holdings, and reducing their respective percentage interests in the Company.**

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**We intend to issue Subordinate Voting Shares as consideration in the Mergers, which may dilute your interest in our shares and affect the trading price of our Subordinate Voting Shares.

We intend to issue Subordinate Voting Shares as consideration in the Mergers, which may dilute your interest in our share capital or result in a decrease in the market price of our Subordinate Voting Shares. Each of the Merger Agreements also provides that additional Subordinate Voting Shares may be issuable in connection with each of the Mergers through various earn-out mechanisms set forth in each of the Merger Agreements and as described below in the “Description of the Merger Agreements” section, and the Subordinate Voting Shares issuable pursuant to such earn-out mechanisms may further dilute your interest in our share capital or result in a decrease in the market price of our Subordinate Voting Shares.

Our shareholders may not realize a benefit from the Mergers commensurate with the ownership dilution they will experience in connection with the Mergers.

If the Company is unable to realize the full strategic and financial benefits currently anticipated from the Mergers, our shareholders will have experienced substantial dilution of their ownership interests without receiving any commensurate benefit, or only receiving part of the commensurate benefit to the extent the combined company is able to realize only part of the strategic and financial benefits currently anticipated from the Mergers.

The Mergers will cause dilution to the combined company, which may negatively affect the market price of subordinate voting shares of the combined company.

In connection with the completion of the Mergers, we expect to issue approximately 764 million subordinate voting shares exclusive of any warrants or options that are expected to be issued. The issuance of these new subordinate voting shares could have the effect of