Company: VREOF
Filing Date: 2025-03-11
Form Type: PREM14C
Source: 0001140361-25-008065
Chunk: 381

Company: Vireo Growth Inc.
Filing Date: 2025-03-11
Form: PREM14C
Chunk 381
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 c. | Third, distributions to Restricted Units shall not be made unless and until the total amounts distributed to other Members exceed the Threshold Amount, which is the total amount contributed by all other members. The intent of this limitation is to treat Restricted Units as a profits interest rather than a liquidation interest. |

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TABLE OF CONTENTS

NOTE 12: MEMBERS’ EQUITY (continued) Liquidation distributions: Pursuant to Section 3.7 of the Amended and Restated Operating Agreement, upon Company liquidation, and after satisfaction of all the Company liabilities, and the establishment of a reserve appropriate to fund necessary work to wind up the Company’s affairs, the Company shall make distribution to all Members in the same manner as distributions are made under Section 3.6.3 of the Amended and Restated Operating Agreement.

| NOTE 13: | PROVISION FOR INCOME TAXES |

The provision for income taxes is comprised of current and deferred components as follows:

|                                |     |       2024 |     |       2023 |
| Currently Payable (Receivable) |     |            |     |            |
| Federal                        |     | $8,415,000 |     | $9,015,000 |
| State                          |     |    490,000 |     |    935,000 |
| Total Current                  |     | $8,905,000 |     | $9,950,000 |
| Deferred                       |     |            |     |            |
| Federal                        |     |    265,000 |     |   -250,000 |
| State                          |     |     20,000 |     |   -150,000 |
| Total Deferred                 |     |   $285,000 |     | $(400,000) |
| Provision for Income Taxes     |     | $9,190,000 |     | $9,550,000 |

The Company files income tax returns in the U.S. federal jurisdiction and the State of Missouri. As of December 31, 2024 and 2023, the components of deferred tax assets and liabilities were as follows:

|                                       |     |     2024 |     |     2023 |
| Deferred Tax (Assets) Liabilities     |     |          |     |          |
| Inventory Reserve                     |     |       $— |     | $300,000 |
| Start Up Costs                        |     |   96,000 |