Company: VREOF
Filing Date: 2025-03-21
Form Type: DEFM14C
Source: 0001140361-25-009815
Chunk: 77

Company: Vireo Growth Inc.
Filing Date: 2025-03-21
Form: DEFM14C
Chunk 77
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 will provide to the Company an estimated closing statement setting forth Wholesome’s good faith estimated calculation of the Wholesome Closing Merger Consideration. The Company will issue and deliver to the Exchange Agent (as described below in “Description of the Merger Agreements – Wholesome Merger – Procedures for Receiving Merger Consideration”) a number of Subordinate Voting Shares equal to 90% of (i) the estimated Wholesome Closing Merger Consideration multiplied by (ii) the closing share price of $0.52, with such share issuance described herein as the “Wholesome Closing Share Payment.”

The remaining 10% of the Subordinate Voting Shares in respect of the Wholesome Closing Merger Consideration (the “Wholesome Escrow Shares”) will be delivered to Odyssey Transfer and Trust Company, in its capacity as the escrow agent (the “Wholesome Escrow Agent”), under an escrow agreement by and among the Company, Stockholder Representative, and the Wholesome Escrow Agent (the “Wholesome Escrow Agreement”). The Wholesome Escrow Shares will be held by the Wholesome Escrow Agent pursuant to the Wholesome Escrow Agreement as a recourse of the Company in support of the purchase price adjustment mechanism described below and the indemnification obligations of the Wholesome stockholders described below in Description of the Merger Agreements – Wholesome Merger – Indemnification.” The Wholesome Escrow Shares that are not otherwise subject to any indemnification claims of the Company indemnified parties will be released to the Wholesome stockholders following the date that is twenty-four months after the Wholesome Closing.

Within ninety (90) days of the Wholesome Closing Date, the Company is entitled to prepare and deliver to the Stockholder Representative a statement setting forth the Company’s good faith calculation of the Wholesome Closing Merger Consideration (the “Wholesome Final Closing Statement”). The estimated Wholesome Closing Merger Consideration is subject to adjustment based upon review of the Wholesome Final Closing Statement by the Stockholder Representative and the parties’ review and negotiation of any objections that the Stockholder Representative may have with respect to the Wholesome Final Closing Statement. To the extent that the Company and the Stockholder Representative are not able to resolve any disputes, such disputes will be submitted to CohnReznik, or, if CohnReznik is not able to serve, another independent accountant mutually appointed by the