Company: VREOF
Filing Date: 2025-03-21
Form Type: DEFM14C
Source: 0001140361-25-009815
Chunk: 210

Company: Vireo Growth Inc.
Filing Date: 2025-03-21
Form: DEFM14C
Chunk 210
---
 provides a reasonable basis for these statements, that information may be limited or incomplete. Our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all relevant information. These statements are inherently uncertain, and investors are cautioned not to unduly rely on these statements. You should not rely upon forward-looking statements or forward-looking information as predictions of future events. Furthermore, such forward-looking statements or forward-looking information speak only as of the date of this Information Statement. Except as required by law, we undertake no obligation to update any forward-looking statements or forward-looking information to reflect events or circumstances after the date of such statements.

Amounts are presented in United States dollars, except as otherwise indicated. Please see Appendix B for Deep Root’s financial statements for the years ended December 31, 2024 and December 31, 2023.

### Overview of Deep Roots
Deep Roots is an established cannabis operator licensed by the State of Nevada. Deep Roots owns, operates, and invests in legal cannabis cultivation, processing, and retail operations. Deep Roots is headquartered in Mesquite, Nevada.

Deep Roots operated five dispensaries and a cultivation and manufacturing facility, all of which are located in Nevada. In October 2024, as further described in Note 6, Deep Roots acquired most of the assets of a Nevada operator, The Source Holdings, LLC, including four retail operations two provisional retail licenses and on operating facility for cultivation.

**Year Ended December 31, 2024 Compared to the Year Ended December 31, 2023**

#### Revenue
Deep Roots derived its revenue from cultivating, processing, and distributing cannabis products through our nine dispensaries and wholesale sales in Nevada. For the years ended December 31, 2024 and 2023, respectively, 98% of revenue was generated from retail dispensaries and 2% from the wholesale business.

Revenue for the year ended December 31, 2024 was $69,509,999, an increase of $5,161,326 or 8% compared to revenue of $64,348,673 for the year ended December 31, 2023. The increase is primarily attributable to the acquisition of The Source Holdings, LLC, in October of 2024 which added four dispensaries to Deep Roots operations.

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Retail revenue for the year ended December 31, 2024 was $68,083,205, an increase of $5,316,980 or 8%