Company: VREOF
Filing Date: 2025-03-07
Form Type: PRE 14C
Source: 0001140361-25-007601
Chunk: 163

Company: Vireo Growth Inc.
Filing Date: 2025-03-07
Form: PRE 14C
Chunk 163
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 further drafts of, merger documentation, ancillary agreements and related matters.

In early to mid-December, as the Company proceeded toward finalizing the merger agreements with Deep Roots, Proper, and Wholesome, the Company continued to conduct diligence on and evaluate a potential transaction with Bill’s Nursery. Given that the diligence process and negotiations with Bill’s Nursery were not at that point as advanced as the Company’s processes with the other potential targets, the Company determined that it was in the best

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interests of the Company and its shareholders to prioritize and move forward with the merger agreements with Deep Roots, Proper, and Wholesome. The Company decided to discuss with Bill’s Nursery a new MOU (the “Bill’s Nursery MOU” and, collectively with the Merger Agreements, the “Transaction Agreements”) that would provide a framework for near-term negotiations with respect to a potential acquisition of Bill’s Nursery (the “Bill’s Nursery Acquisition” and, collectively with the Mergers, the “Transactions”) by the Company after the merger agreements with Deep Roots, Proper, and Wholesome were executed.

On December 11, 2024, CohnReznick presented its substantially final QoE reports to Vireo management.

On December 16, 2024, the Board met. In attendance were representatives of the Company’s management, Moelis and Chicago Atlantic. At such meeting, the Board received an update regarding the merger agreements and related transaction documents and the potential private placement equity investment in the Company that the Company had been considering. In addition, on December 16, 2024, Moelis delivered to the Board customary relationship disclosures regarding Moelis’ relationships with the Company, Chicago Atlantic and the potential counterparties to a transaction.

On December 17, 2024, CohnReznick presented its final QoE reports to Vireo management.

Also on December 17, 2024, the Board met. Members of the Company’s management and representatives of Moelis, Dorsey and Chicago Atlantic also attended. At such meeting, Dorsey provided an update regarding the status of the merger agreements and the related agreements and documents. Representatives of Moelis reviewed with the Board Moelis’ financial analysis and presented its oral fairness opinion to the Board, which was confirmed by delivery of a written opinion dated December 17, 2024. Moelis addressed to the Board that, as