Company: VREOF
Filing Date: 2025-03-07
Form Type: PRE 14C
Source: 0001140361-25-007601
Chunk: 20

Company: Vireo Growth Inc.
Filing Date: 2025-03-07
Form: PRE 14C
Chunk 20
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 Merger are filed with the Secretary of State of the State of Missouri or at such later date or time as Proper and the Company may agree in writing (such time is hereinafter referred to as the “Proper Effective Time”). Consideration to be Received in the Proper Mergers At the closing of the Proper Transactions (the “Proper Closing” and the date of the Proper Closing, the “Proper Closing Date”), subject to the terms and conditions of the Proper Merger Agreement, by virtue of the Proper Mergers, the following will occur:

| • | NGH Shares: Each share of common stock of NGH, par value $0.001 per share (the “NGH Common Stock”) will be converted into the right to receive, in accordance with the terms of the Proper Merger Agreement, the applicable portion of the Proper Closing Share Payment (as defined below in the section entitled “Description of the Merger Agreements — Proper Mergers — Consideration to be Received in the Proper Mergers”), subject to a post-closing purchase price adjustment mechanism, which Proper Closing Share Payment will be paid via newly issued shares Subordinate Voting Shares at a Closing Share Price of $0.52. Proper, as the sole holder of NGH Common Stock, will also be eligible to receive additional Subordinate Voting Shares through an earn-out mechanism based upon the EBITDA performance of the Proper Companies and their subsidiaries, and the revenue performance of Arches. No consideration will be paid with respect to any NGH Common Stock held in treasury by NGH or owned by NGH. The Proper Share Recipients will also be required to forfeit the Subordinate Voting Shares received by such persons pursuant to the Proper Merger Agreement in certain circumstances. For additional information on the Proper Closing Share Payment and the additional earn-out elements of the merger consideration payable in connection with the Proper Mergers, see “Description of the Merger Agreements — Proper Mergers — Consideration.” |

| • | Proper MSA Newco Shares: Each share of the common stock of Proper MSA Newco, par value $0.001 per share (the “Proper MSA Newco Common Stock” and collectively with the NGH Common Stock, the “Proper Common Stock”) will be converted into the right to receive, in accordance with the terms of the Proper Merger Agreement, the applicable portion of the Proper Closing Share Payment, subject to a post-closing purchase price adjustment mechanism, which Proper Closing Share Payment will be