Company: VREOF
Filing Date: 2025-03-21
Form Type: DEFM14C
Source: 0001140361-25-009815
Chunk: 132

Company: Vireo Growth Inc.
Filing Date: 2025-03-21
Form: DEFM14C
Chunk 132
---
 to the Company, as further described in the Proper Merger Agreement; |

| • | an existing credit agreement by and among Proper and certain of its affiliates, Chicago Atlantic Admin, LLC and certain other parties thereto have been transferred to the Proper Companies; |

| • | John Pennington being appointed as a member of the board of directors of the Company; and |

| • | the Company continuing to be treated as a domestic corporation for U.S. federal income tax purposes. |

Under the terms of the Proper Merger Agreement, the parties’ mutual obligations to consummate the Proper Mergers are also subject to certain additional conditions with respect to certain filings to be made in compliance with the HSR Act. However, following the execution and delivery of the Proper Merger Agreement, the parties determined that such filings are not applicable to the Proper Transactions. The Proper Merger Agreement also provides for a condition to Proper’s and the Proper Companies’ obligations to consummate the Proper Merger that John Mazarakis shall have been appointed by the Board as the Chief Executive Officer and Co-Executive Chairman of the Company, which action was taken by the Board on December 17, 2024. Indemnification If the Proper Closing occurs, the Proper Share Recipients will, severally and not jointly, defend and indemnify the Company and its affiliates and their respective representatives, and will hold each such indemnified party harmless against, any and all losses incurred by such indemnified party resulting from, relating to or constituting (i) any inaccuracy in or breach of any representation or warranty of Proper, the Proper Companies, or any Proper Share Recipient set forth in the Proper Merger Agreement or in certificate or instrument delivered by or on behalf of Proper, the Proper Companies, the Member Representative, or any Proper Share Recipient, (ii) any breach, violation or nonfulfillment of any covenant, agreement, or obligation to be performed by Proper, the Proper Companies, any Proper Share Recipient, or the Member Representative, (iii) any claim by any Proper Share Recipient relating to such person’s rights with respect to the Proper Total Merger Consideration or the calculations and determinations set forth on the consideration spreadsheet prepared by Proper, (iv) any claims of a Proper equityholder under the governing documents of Proper or Proper Share Recipient that the appointment of the Member Representative, or any indemnification or other obligations of any Proper equityholder or Proper Share Recipient under the Proper Merger Agreement or any documents, agreements or instruments