Company: VREOF
Filing Date: 2025-03-11
Form Type: PREM14C
Source: 0001140361-25-008065
Chunk: 257

Company: Vireo Growth Inc.
Filing Date: 2025-03-11
Form: PREM14C
Chunk 257
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 impaired in the future, an accounting charge for impairment would be recognized during the period in which the determination was made.

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TABLE OF CONTENTS

The purchase price has been allocated to the net tangible and identifiable intangible assets and liabilities based on the respective estimated fair values and will be finalized upon the closing of the Proper Mergers. The excess of the purchase price over the net tangible and identifiable intangible assets has been recorded as goodwill. Goodwill represents potential operational synergies, various expense synergies, and opportunities to enter new markets, and is assigned to the Company’s cultivation, production, and sale of cannabis business segment. Note 5. Net Loss per Share Net loss per share was calculated using the historical weighted average shares outstanding and the issuance of additional shares in connection with the Proper Mergers, assuming the shares were outstanding since January 1, 2024. As the Proper Mergers are being reflected as if they had occurred at the beginning of the period presented, the calculation of weighted average shares outstanding for basic and diluted net loss per share assumes that the shares issuable relating to the Proper Mergers have been outstanding for the entirety of the period presented.

|                                                            |     |   For the Year Ended 
 December 31, 2024(1) |
| Numerator:                                                 |     |                      |
| Pro forma net loss                                         |     |        $(22,108,869) |
| Denominator:                                               |     |                      |
| Weighted average shares outstanding – basic and diluted(2) |     |          358,507,665 |
| Net loss per share:                                        |     |                      |
| Basic and diluted                                          |     |              $(0.06) |
| Excluded securities(2)                                     |     |                      |
| Options                                                    |     |           31,232,633 |
| Restricted stock units                                     |     |           11,327,530 |
| Warrants                                                   |     |           18,957,212 |
| Shares issuable to convertible debt holders                |     |           16,000,000 |
| Proper EBITDA Earn-Out Shares(3)                           |     |                    — |
| Proper E-Commerce Earn-Out Shares(4)                       |     |                    — |

| (1) | Pro forma net loss per share includes the related pro forma adjustments as referred to within the section “Unaudited Pro Forma Condensed Combined Financial Information.” |

| (2) |