Company: VREOF
Filing Date: 2025-03-21
Form Type: DEFM14C
Source: 0001140361-25-009815
Chunk: 46

Company: Vireo Growth Inc.
Filing Date: 2025-03-21
Form: DEFM14C
Chunk 46
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12) month adjusted EBITDA of Deep Roots and its subsidiaries for the twelve (12) calendar months ending December 31, 2026 and (2) the trailing nine (9) month adjusted EBITDA of Deep Roots and its subsidiaries for the last nine (9) months of calendar year 2026, with such amount annualized to reflect a full 12-month period, in each case excluding gains or losses on certain existing investments of Deep Roots and its subsidiaries, minus (b) the sum of (1) the closing EBITDA of $30,000,000 plus (2) an amount of $1,000,000 in respect of EBTIDA generated by a new retail store if such new retail store is operational as of April 1, 2025, and if such new retail store is not operational by April 1, 2025, $0, in each case as calculated and finally determined in connection with the Deep Roots Actual Closing Merger Consideration, minus (3) if applicable and to the extent not included as an adjustment to the Deep Roots Actual Closing Merger Consideration, $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, plus and minus (as applicable) (ii) (a) plus, seventy-five percent (75%) of the aggregate amount, if any, of any gains on certain existing investments of Deep Roots and its subsidiaries from the date of the Deep Roots Closing through December 31, 2026, and (b) minus, seventy-five percent (75%) of the aggregate amount, if any, of any losses on certain existing investments of Deep Roots and its subsidiaries from the date of the Deep Roots Closing through December 31, 2026, minus (iii) the aggregate amount of any indebtedness for borrowed money incurred by Deep Roots or its subsidiaries after the Deep Roots Closing Date, plus (iv) the amount of any cash remaining in the Stockholder Representative Expense Fund, plus (v) certain tax refund amounts held by the Deep Roots Surviving Corporation for the benefit of the Deep Roots stockholders pursuant to the Deep Roots Merger Agreement. From the Deep Roots Closing through December 31, 2026, the Company is subject to certain limited covenants with respect to the operation of the Deep Roots Surviving Corporation and the listing of the Company’s Subordinate Voting Shares.

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