Company: VREOF
Filing Date: 2025-07-15
Form Type: S-3
Source: 0001104659-25-068137
Chunk: 8

Company: Vireo Growth Inc.
Filing Date: 2025-07-15
Form: S-3
Chunk 8
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 the full amount of such damages, or that such indemnifying parties’ ability to satisfy their respective
indemnification obligation will not be impaired in the future.

● The Company’s ability to use net
operating loss carryforwards and other tax attributes may be limited as a result of the mergers.

● We incurred net losses in fiscal years
2024 and 2023, and cannot provide assurance as to when or if we will become profitable and generate cash in our operating activities.

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● If additional financing is required to
operate our business, we may face difficulties acquiring such additional financing on terms acceptable to us or at all.

● Our senior secured credit facility contains
covenant restrictions that may limit our ability to operate our business.

● Servicing our debt will require a significant
amount of cash, and we may not have sufficient cash flow from our business to pay our substantial debt.

● We face security risks related to our
physical facilities and cash transfers due to the mostly cash nature of the cannabis industry.

● Our business is subject to the risks inherent
in agricultural operations.

● We face risks related to our information
technology systems, including potential cyber-attacks and security and privacy breaches.

● Our reputation and ability to do business
may be negatively impacted by our suppliers’ inability to produce and ship products.

● We are dependent on key inputs, suppliers
and skilled labor for the cultivation, extraction, and production of cannabis products.

● Our inability to attract and retain key
personnel could materially, adversely affect our business.

● We face an inherent risk of product liability
claims as a manufacturer, processor and producer of products that are intended to be ingested by people.

● Our intellectual property may be difficult
to protect.

● We face intense competition in a new and
rapidly growing industry by other licensed companies with more experience and financial resources than we have and by unlicensed, unregulated
participants.

● There are risks associated with consolidation
of the industry by well-capitalized entrants developing large-scale operations.

● Our internal controls over financial reporting
may not be effective, and our independent auditors may not be able to certify as to their effectiveness, which could have a significant
and adverse effect on our business.

● The elimination of monetary liability
against our directors, officers, and employees under British Columbia law and the existence of indemnification rights for our obligations
to our directors, officers, and employees may result in substantial expenditures by us and may discourage lawsuits against