Company: VREOF
Filing Date: 2025-03-21
Form Type: DEFM14C
Source: 0001140361-25-009815
Chunk: 169

Company: Vireo Growth Inc.
Filing Date: 2025-03-21
Form: DEFM14C
Chunk 169
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 of the Transactions, except for the fairness of the Consideration, from a financial point of view, to Vireo. Moelis’ opinion related to the relative values of Vireo and the Targets, collectively. Moelis expressed no opinion as to what the value of Subordinate Voting Shares actually will be when issued pursuant to the Transactions or the prices at which Subordinate Voting Shares or securities of any of the Targets may trade at any time. In rendering its opinion, Moelis assumed, with the consent of the Board, that a final executed agreement would be entered into in respect of the Bill’s Nursery MOU that reflects the economic terms set out in the Bill’s Nursery MOU, that the final executed forms of the Transaction Agreements will not differ in any material respect from the drafts that it had reviewed, that the Transactions will be consummated in accordance with their terms without any waiver or modification that could be material to its analysis, that the representations and warranties of each party set forth in the Transaction Agreements were accurate and correct, and that the parties to the Transaction Agreements will comply with all the material terms of the Transaction Agreements. Moelis assumed, with the consent of the Board, that all governmental, regulatory or other consents and approvals necessary for the completion of the Transactions will be obtained, except to the extent that could not be material to its analysis. In addition, representatives of Vireo advised Moelis, and Moelis assumed, with the consent of the Board, that each of the components of the Transactions will qualify as a tax-free reorganization for U.S. federal income tax purposes. Moelis’ opinion was necessarily based on economic, monetary, market and other conditions as in effect on, and the information made available to Moelis as of, the date of the opinion, and Moelis assumed no responsibility to update its opinion for developments after the date of the opinion. Moelis advised that the credit, financial and stock markets have been experiencing unusual volatility and therefore it expressed no opinion or view as to any potential effects of such volatility on the Targets, Vireo or the Transactions. Moelis’ opinion did not address the fairness of the Transactions or any aspect or implication thereof to, or any other consideration of or relating to, the holders of any class of securities, creditors or other constituencies of Vireo or the Transactions. In addition, Moelis did not express any opinion as to the fairness of the amount or nature of any compensation to