Company: VREOF
Filing Date: 2025-03-21
Form Type: DEFM14C
Source: 0001140361-25-009815
Chunk: 269

Company: Vireo Growth Inc.
Filing Date: 2025-03-21
Form: DEFM14C
Chunk 269
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itures related to the Proper Forfeiture Shares, as defined below. No amount has been estimated for the Proper EBITDA Earn-Out Shares or the Proper E-Commerce Earn-Out Shares, as the accounting is expected to be finalized upon consummation of the Proper Mergers. Refer to Note 4 for additional information related to the Proper Forfeiture Shares, the Proper EBITDA Earn-Out Shares and the Proper E-Commerce Earn-Out Shares. |

| F3 | Represents an assumed fair value of the contingent consideration for the potential forfeitures related to the Wholesome Forfeiture Shares, as defined below. No amount has been estimated for the Wholesome EBITDA Earn-Out Shares or the Wholesome E-Commerce Earn-Out Shares, as the accounting is expected to be finalized upon consummation of the Wholesome Merger. Refer to Note 4 for additional information related to the Wholesome Forfeiture Shares, the Wholesome EBITDA Earn-Out Shares and the Wholesome E-Commerce Earn-Out Shares. |

| G | Represents the elimination of Wholesome’s equity attributable to noncontrolling interests related to the Proper Companies’ investment in Arches in the amount of $1,029,241. |

Adjustments to Unaudited Pro Forma Condensed Combined Statement of Operations The pro forma adjustments included in the unaudited pro forma condensed combined statement of operations for the year ended December 31, 2024 are as follows:

| AA | Represents estimated remaining transaction costs not already reflected in the December 31, 2024 historical financial statements of Vireo of $4,348,908 as if incurred on January 1, 2024, the date the Mergers occurred for the purposes of the unaudited pro forma condensed combined statement of operations. The $3,378,001 of transaction costs incurred and therefore already recorded in the December 31, 2024 historical financial statements of Vireo is recorded within “Professional fees.” |

| BB | Represents the adjustment to reverse Deep Roots’ previously recorded amortization of goodwill in the amount of $121,795 allowable under the accounting alternatives for private companies. |

| CC | Represents the elimination of the loss attributable to noncontrolling interests related to the Proper Companies’ investment in Arches in the amount of $370,759. |

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Note 4. Estimated Purchase Price Consideration Deep Roots Merger The estimated preliminary purchase price allocation for the Deep Roots Mer