Company: VREOF
Filing Date: 2025-03-11
Form Type: PREM14C
Source: 0001140361-25-008065
Chunk: 49

Company: Vireo Growth Inc.
Filing Date: 2025-03-11
Form: PREM14C
Chunk 49
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 Roots stockholders pursuant to the Deep Roots Merger Agreement.

Deep Roots New Retail Forfeiture Amount

In the event that a specified new retail store is not operational by April 1, 2025, and only to the extent that such amount is not previously taken into account in the determination of the Deep Roots Closing Merger Consideration

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described above, the Company will be entitled to a payment equal to $1,000,000 imputed as EBITDA generated by a specified new retail store if such new retail store is not operational by April 1, 2025 (the “Deep Roots New Retail Forfeiture Amount”). If such $1,000,000 payment becomes owed to the Company, the Stockholder Representative may elect to direct (i) the Company or the Deep Roots Surviving Corporation to release to the Company an amount from the Stockholder Representative Expense Fund, (ii) the Deep Roots stockholders to pay to the Company $1,000,000 in cash, or (iii) the Deep Roots Escrow Agent to release to the Company an aggregate number of Escrow Shares (rounded up to the nearest whole number) equal to $1,000,000 divided bythe closing share price of $0.52, or any combination of the foregoing. The Deep Roots Earn-Out Amount plusthe Deep Roots Actual Closing Merger Consideration minusthe Deep Roots Forfeiture Amount minusthe Deep Roots New Retail Forfeiture Amount is hereinafter referred to as the “Deep Roots Total Merger Consideration.” Lock-Up Letters As an additional condition to receiving its pro rata portion of the Deep Roots Closing Share Payment and any Deep Roots Earn-Out Shares, each stockholder of Deep Roots is required to deliver a lock-up letter (each, a “Lock-Up Letter”) to the Company. The Lock-Up Letters will restrict each stockholder, subject to certain customary exceptions, from (i) offering, hypothecating, encumbering, pledging, selling, contracting to sell, selling any option, warrant or contract to purchase, purchasing any option, warrant or contract to sell, granting any option, right or warrant to purchase, or otherwise transferring or disposing of, or agreeing to transfer or dispose of, or lending, directly or indirectly, or establishing or increasing a put equivalent position or liquidation with respect to or decreasing a call equivalent position, (ii) entering into any swap, short sale, hedge or other agreement or