Company: VREOF
Filing Date: 2025-03-11
Form Type: PREM14C
Source: 0001140361-25-008065
Chunk: 276

Company: Vireo Growth Inc.
Filing Date: 2025-03-11
Form: PREM14C
Chunk 276
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 | -10,439,017 |
| Long-term debt                           |     | -27,367,719 |
| Right-of-use liability                   |     |  -5,766,720 |
| Other current liabilities                |     |     -56,200 |
| Income tax payable                       |     |  -4,822,109 |
| Accrued loyalty liability                |     |  -1,393,933 |
| Financing liabilities - related party    |     |    -520,000 |
| Series B share liability                 |     |  -8,615,935 |
| Other long-term liabilities              |     |  -1,434,159 |
| Total liabilities assumed                |     | -60,415,792 |
| Net assets acquired                      |     | $81,933,292 |

Total estimated purchase price consideration The estimated fair values of the components included in the purchase price consideration are preliminary and may materially vary from final results. The Company is still finalizing its conclusions on the accounting treatment associated with the components of the purchase consideration, along with the valuations and necessary calculations related to these components, as described in further detail below. Accordingly, for purposes of preparing the unaudited pro forma condensed combined financial information, the Company has not included an estimated amount for the ‘Contingent consideration - Proper EBITDA Earn-Out Shares’ or ‘Contingent consideration - Proper E-Commerce Earn-Out Shares’ components. In addition, the Company has assumed that the amount for the ‘Contingent consideration - Proper Forfeiture Amount’ is equal to 50% of the Proper Merger Consideration. The final conclusions surrounding the accounting treatment, valuations, and necessary calculations for each of the components will be finalized within twelve months of the Proper Closing Date. Merger Consideration: Estimated Proper Merger Consideration of $81,933,292 is based on the Company’s closing share price of $0.46 on February 19, 2025 multiplied by the number of Vireo Subordinate Voting Shares currently estimated to be issued of 178,115,850 (of which up to 50% of such shares are subject to the clawback provisions of the Proper Forfeiture Amount, as defined below, and is included as contingent consideration in the table above), in exchange for acquiring all of the issued and outstanding shares of the Proper Companies. The estimated value of the Proper Merger Consideration will change based on fluctuations in the share price of the Company’s stock and final number