Company: VREOF
Filing Date: 2025-12-09
Form Type: S-3
Source: 0001104659-25-119699
Chunk: 35

Company: Vireo Growth Inc.
Filing Date: 2025-12-09
Form: S-3
Chunk 35
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 extent of the U.S. Holder’s adjusted
tax basis in the Subordinate Voting Share, and thereafter as gain from the sale or exchange of that Subordinate Voting Share. Corporate
U.S. Holders may be entitled to claim the dividends-received deduction with respect to dividends paid on the Subordinate Voting Shares
and such dividends may constitute qualified dividend income to individual U.S. Holders, subject in each case to applicable restrictions
and eligibility requirements.

Dividends on the Subordinate Voting Shares will
not constitute foreign source income for U.S. foreign tax credit limitation purposes because the Company, even though organized as a Canadian
corporation, will be treated as a U.S. corporation for U.S. federal income tax purposes, as described above under “—U.S. Tax
Classification of the Company.” Therefore, a U.S. Holder may not be able to claim a U.S. foreign tax credit for any Canadian tax
unless the U.S. Holder has sufficient other foreign source income.

Sale or Other Taxable Disposition of Subordinate Voting Shares

Upon the sale or other taxable disposition of
a Subordinate Voting Share, U.S. Holders generally will recognize capital gain or loss equal to the difference between the amount realized
by such holders on the disposition and their adjusted tax basis in such Subordinate Voting Share. Such gain or loss generally will be
long-term capital gain or loss if the U.S. Holder held such a Subordinate Voting Share for more than one year as of the time of disposition.
Long-term capital gains of individuals are eligible for reduced rates of taxation. The deductibility of capital losses is subject to limitations.

To the extent a sale or other taxable disposition
of the Subordinate Voting Shares by a U.S. Holder results in Canadian tax payable by the U.S. Holder, such U.S. Holder may not be able
to claim a U.S. foreign tax credit for any Canadian tax unless the U.S. Holder has sufficient other foreign source income.

Foreign Currency

The amount of any distribution paid to a U.S.
Holder in foreign currency, or the amount of proceeds paid in foreign currency on the sale, exchange or other taxable disposition of Subordinate
Voting Shares, generally will be equal to the U.S. dollar value of such foreign currency based on the exchange rate applicable on the
date of receipt (regardless of whether such foreign currency is converted into U.S. dollars at that time). A U.S. Holder will have a basis
in the foreign currency equal to