Company: VREOF
Filing Date: 2025-12-09
Form Type: S-3
Source: 0001104659-25-119699
Chunk: 45

Company: Vireo Growth Inc.
Filing Date: 2025-12-09
Form: S-3
Chunk 45
---
 
 rules of the applicable exchange;               |

| · | privately negotiated transactions; |

| · | short sales effected after the date the registration                              
 statement of which this prospectus forms a part is declared effective by the SEC; |

| · | through the writing or settlement of options                                     
 or other hedging transactions, whether through an options exchange or otherwise; |

| · | broker-dealers may agree with the Selling Securityholders                                     
 to sell a specified number of such Subordinate Voting Shares at a stipulated price per share; |

| · | a combination of any such methods of sale; and |

| · | any other method permitted by applicable law. |

The Selling Securityholders
may, from time to time, pledge or grant a security interest in some or all of the Subordinate Voting Shares owned by them and, if they
default in the performance of their secured obligations, the pledgees or secured parties may offer and sell the Subordinate Voting Shares,
from time to time, under this prospectus, or under an amendment to this prospectus under Rule 424(b)(3) or other applicable
provision of the Securities Act amending the list of Selling Securityholders to include the pledgee, transferee or other successors in
interest as Selling Securityholders under this prospectus. The Selling Securityholders also may transfer the Subordinate Voting Shares
in other circumstances, in which case the transferees, pledgees or other successors in interest will be the selling beneficial owners
for purposes of this prospectus.

In connection with the sale
of their Subordinate Voting Shares or interests therein, the Selling Securityholders may enter into hedging transactions with broker-dealers
or other financial institutions, which may in turn engage in short sales of such Subordinate Voting Shares in the course of hedging the
positions they assume. The Selling Securityholders may also sell Subordinate Voting Shares short and deliver these securities to close
out their short positions, or loan or pledge the Subordinate Voting Shares to broker-dealers that in turn may sell these securities. The
Selling Securityholders may also enter into option or other transactions with broker-dealers or other financial institutions or the creation
of one or more derivative securities which require the delivery to such broker-dealer or other financial institution of the Subordinate
Voting Shares offered by this prospectus, which Subordinate Voting Shares such broker-dealer or other financial institution may resell
pursuant to this prospectus (as supplemented or amended to reflect such transaction).

The aggregate proceeds to