Company: VREOF
Filing Date: 2025-07-15
Form Type: S-3
Source: 0001104659-25-068137
Chunk: 49

Company: Vireo Growth Inc.
Filing Date: 2025-07-15
Form: S-3
Chunk 49
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 the individual had reasonable grounds for believing
that his or her conduct was lawful.

The Company may also indemnify a person described
above in respect of all costs, charges and expenses, including legal and other fees, actually and reasonably incurred by such person in
respect of such a legal proceeding or investigative action, providing such person complies with (i) and (ii) above. The Company
may provide indemnification in respect of such costs, charges and expenses after the final disposition of such legal proceeding or investigative
action, and may pay such costs, charges and expenses as they are incurred in advance of such final disposition, provided it obtains a
written undertaking that such person will repay the amounts advanced if it is ultimately determined that the individual did not comply
with (i) and (ii) above. Under the Business Corporations Act (British Columbia), an individual described above is
entitled to indemnification from the Company in respect of such costs, charges and expenses after the final disposition of such legal
proceeding or investigative action as a matter of right if the individual has not been reimbursed for such costs, charges and expenses
and is wholly successful in the outcome of such legal proceeding or investigative action, or is substantially successful on the merits
thereof, providing such individual complies with (i) and (ii) above. On application of the Company or an individual described
above, the Supreme Court of British Columbia may order the Company to indemnify a person described above in respect of any liability incurred
by such person in respect of such a legal proceeding or investigative action, and to pay some or all of the expenses incurred by such
individual in respect of such legal proceeding or investigative action.

The Articles of the Company provide that, subject
to the limitations contained in the Business Corporations Act (British Columbia), the Company must indemnify a person
named above in accordance with the foregoing for where such person is or may be liable by reason of such person being or having been a
director, officer or holding or having held a position equivalent thereto.

The Company maintains directors’ and officers’
liability insurance which insures directors and officers for losses as a result of claims against the directors and officers of the Company
in their capacity as directors and officers.

The Company has entered, and may from time to
time enter, into indemnification agreements for the benefit of its directors and officers providing for their indemnification as permitted
under the Business Corporations Act (British Columbia) and the Articles.

Insofar as