Company: VREOF
Filing Date: 2025-03-11
Form Type: PREM14C
Source: 0001140361-25-008065
Chunk: 246

Company: Vireo Growth Inc.
Filing Date: 2025-03-11
Form: PREM14C
Chunk 246
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 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 18, 2024, Vireo Growth Inc. (the “Company” or “Vireo”) entered into an Agreement and Plan of Merger (the “Proper Merger Agreement”) with Proper Holdings, LLC (“Proper”), NGH Investments, Inc. (“NGH”), and Proper Holdings Management, Inc. (“Proper MSA Newco” and together with NGH, the “Proper Companies”), where pursuant to the Proper Merger Agreement, Vireo will acquire all of the issued and outstanding shares of the Proper Companies (the “Proper Mergers”) in exchange for the issuance of an estimated 178,115,850 subordinate voting shares (the “Subordinate Voting Shares”) of Vireo (subject to the clawback provisions of the Proper Forfeiture Amount, as defined below), representing a value