Company: VREOF
Filing Date: 2025-03-21
Form Type: DEFM14C
Source: 0001140361-25-009815
Chunk: 387

Company: Vireo Growth Inc.
Filing Date: 2025-03-21
Form: DEFM14C
Chunk 387
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 lease liability to an entity owned by two largest members. See Note 9 – Financing Liability – Related Party for details.

| NOTE 21: | SUPPLEMENTAL CASH FLOW INFORMATION |

Cash paid for income taxes for the years ended December 31, 2024 and 2023 was $2,298,002 and $9,422,306 respectively. Cash paid for interest for the years ended December 31, 2024 and 2023 was $203,461 and $0 respectively. During the year 2024, convertible debt holders converted $5,900,000 into members’ equity. See Note 8 – Leases for supplement cash flow information related to leases.

| NOTE 22: | SUBSEQUENT EVENTS |

The Company’s operating agreement entitles B-1 members to a preferred return of $5,900,000. The Company is obligated to distribute the first $5,900,000 of distributions to these members, but it is discretionary when it occurs. The Company is negotiating with an institutional lender to borrow $5,900,000 to fulfil obligations to preferred members. The Company entered into a merger agreement with Vireo Growth, Inc. (Vireo) on December 18, 2024. This transaction is subject to the approval of holders of a majority of Vireo’s voting shares and regulatory approvals.

B-61