Company: VREOF
Filing Date: 2025-03-11
Form Type: PREM14C
Source: 0001140361-25-008065
Chunk: 217

Company: Vireo Growth Inc.
Filing Date: 2025-03-11
Form: PREM14C
Chunk 217
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aries and Affiliates, (“the Company” or “Proper”) was organized as domestic business corporation on October 10, 2019 and is engaged in the business of operating a vertically integrated adult-use cannabis operation under the State of Missouri, Department of Health and Senior Services. Beginning in 2021, the Company began to cultivate, manufacture, and dispense marijuana and marijuana-infused products. Beginning in February 2022, recreational cannabis has been legal in Missouri.

**Year Ended December 31, 2024 Compared to the Year Ended December 31, 2023**

#### Revenue
We derived our revenue from cultivating, processing, and distributing cannabis products through our eleven dispensaries and wholesale sales in Missouri. For the year ended December 31, 2024, 84% of revenue was generated from retail dispensaries and 16% from the wholesale business. For the year ended December 31, 2023, 69% of revenue was generated from retail dispensaries and 31% from the wholesale business.

Revenue for the year ended December 31, 2024 was $90,408,120, an increase of $14,236,425 or 19% compared to revenue of $76,171,695 for year ended December 31, 2023. On July 6, 2023, Proper entered into a Member Interest Purchase Agreement with the Members of Nirvana Investments LLC and all subsidiaries and a Management Service Agreement of Nirvana Investments LLC. Additionally, on October February 7, 2024, Proper completed the acquisition of SLCC, LLC, a single dispensary operation located in Kansas City, MO. The Management Service Agreement with Nirvana and acquisition of SLCC, LLC, added five dispensaries to Proper’s full year 2024 operating results, which drove the increase in sales from 2023 to 2024.

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Retail revenue for the year ended December 31, 2024 was $66,287,657, an increase of $14,108,726 or 27% compared to retail revenue of $52,178,931 for the year ended December 31, 2023, the increase in the dispensary count related to the Management Service Agreement with Nirvana and acquisition of SLCC, LLC. Wholesale revenue for the year ended December 31, 2024 was $24,120,463, an increase of $127,699 or 1% compared to wholesale revenue of $23