Company: VREOF
Filing Date: 2025-03-11
Form Type: PREM14C
Source: 0001140361-25-008065
Chunk: 382

Company: Vireo Growth Inc.
Filing Date: 2025-03-11
Form: PREM14C
Chunk 382
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 |   96,000 |
| Allowance for Doubtful Accounts       |     |   12,000 |     |    2,000 |
| Right of Use Leases                   |     |    7,000 |     |    2,000 |
| Net Deferred Tax Assets (Liabilities) |     | $115,000 |     | $400,000 |

| NOTE 14: | EMPLOYEE BENEFIT PLAN |

During the year, the Company is an adopting employer of the Wurk 401(k)-plan. The Plan covers all employees who attain age 21 and complete one year of eligibility service, which is 1,000 hours of service. The Company may make a discretionary matching contribution. Discretionary employer contributions to the plan were $180,812 and $107,247 for the years ended December 31, 2024 and 2023, respectively.

| NOTE 15: | ROYALTY AND SUBLET INCOME |

The Company licenses Intellectual Property from, and leases space to Northwest Confections Missouri, LLC (Wyld) for the production of Marijuana Edible products and packaging supply storage. In addition to rents collected, the Company also collects a monthly royalty based on Wyld meeting various sales benchmarks. Rental Income was $213,420 and $134,808 and Royalty Income was $428,915 and $137,666 for the years ended December 31, 2024 and 2023, respectively.

B-59

TABLE OF CONTENTS

| NOTE 16: | ACQUISITION |

On February 7, 2024, the Company completed the acquisition of SLCC, LLC, a single dispensary operation located in Kansas City, MO. The following table presents the fair value of the assets acquired and liabilities assumed as of the acquisition date and allocation of the consideration to net assets acquired:

| Inventory                                                     |     |   $325,538 |
| Licenses                                                      |     |  4,349,530 |
| Right-of Use Assets                                           |     |    542,851 |
| Accounts Payable                                              |     |    -40,621 |
| Other Liabilities Assumed                                     |     |   -166,559 |
| Operating Lease Liabilities                                   |     |   -560,024 |
| Working Capital Adjustment                                    |     |     17,173 |
| Net Assets Acquired                                           |     | $4,467,888 |
| Consideration paid in Cash, Net of Working