Company: VREOF
Filing Date: 2025-12-09
Form Type: S-3
Source: 0001104659-25-119699
Chunk: 31

Company: Vireo Growth Inc.
Filing Date: 2025-12-09
Form: S-3
Chunk 31
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-U.S. Tax Convention, where dividends on the Subordinate Voting
Shares are considered to be paid to or derived by a U.S. Holder that is a beneficial owner of the dividends and is a U.S. resident for
the purposes of, and is entitled to benefits of, the Canada-U.S. Tax Convention, the applicable rate of Canadian withholding tax is generally
reduced to 15%. If the U.S. Holder is a company that is a resident of the U.S. for purposes of, and is eligible for and entitled to benefits
under, the Canada-U.S. Tax Convention, and that owns at least 10% of the voting stock of the Company and beneficially owns the dividend,
the rate of withholding tax is 5% for dividends paid or credited to such corporate U.S. Holder. The Company is required to withhold the
applicable tax from the dividend payable to the U.S. Holder, and to remit the tax to the Receiver General of Canada for the account of
the U.S. Holder.

Disposition of Subordinate Voting Shares

A U.S.
Holder generally will not be subject to tax under the Tax Act in respect of a capital gain realized on the disposition or deemed disposition
of a Subordinate Voting Shares unless such securities constitute “taxable Canadian property” of the U.S. Holder for purposes
of the Tax Act and the gain is not exempt from tax pursuant to the terms of the Canada-U.S. Tax Convention.

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Provided
that the Subordinate Voting Shares are listed on a “designated stock exchange” for purposes of the Tax Act at the time of
disposition, the Subordinate Voting Shares generally will not constitute “taxable Canadian property” of a U.S. Holder, unless
at any time during the 60 month period immediately preceding the disposition: (i) the U.S. Holder, persons with whom the U.S.
Holder did not deal at “arm’s length” for the purposes of the Tax Act, partnerships in which the U.S. Holder or a person
with whom the U.S. Holder did not deal at “arm’s length” for the purposes of the Tax Act holds a membership interest
directly or indirectly through one or more partnerships, or the U.S. Holder together with all such persons, owned 25% or more of the issued
shares of any class of the Company and; (ii) more than 50% of the fair market value of the Subordinate Voting Shares