Company: VREOF
Filing Date: 2025-03-11
Form Type: PREM14C
Source: 0001140361-25-008065
Chunk: 233

Company: Vireo Growth Inc.
Filing Date: 2025-03-11
Form: PREM14C
Chunk 233
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 been outstanding for the entirety of the period presented.

|                                                         |     |   For the Year Ended 
 December 31, 2024(1) |
| Numerator:                                              |     |                      |
| Pro forma net loss                                      |     |        $(23,186,485) |
| Denominator:                                            |     |                      |
| Weighted average shares outstanding – basic and diluted |     |          425,631,815 |
| Net loss per share:                                     |     |                      |
| Basic and diluted                                       |     |              $(0.05) |
| 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 |
| Deep Roots Earn-Out Shares(3)                           |     |                    — |

| (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) | The potentially dilutive outstanding securities were excluded from the computation of pro forma net loss per share, diluted, because their effect would have been anti-dilutive. |

| (3) | Represents shares that may potentially be issued to Deep Roots shareholders under the earn-out provisions within Section 2.19 of the Deep Roots Merger Agreement. The potential number of Deep Roots Earn-Out Shares is currently not determinable. |

Wholesome Merger On December 18, 2024, Vireo Growth Inc. (the “Company” or “Vireo”) entered into an Agreement and Plan of Merger (the “Wholesome Merger Agreement”) with WholesomeCo, Inc. (“Wholesome”), where pursuant to the Wholesome Merger Agreement, Vireo will acquire all of the issued and outstanding shares of Wholesome (the “Wholesome Merger”) in exchange for the currently estimated issuance of 130,546,789 subordinate voting shares (the “Subordinate Voting Shares”) of Vireo (subject to the clawback provisions of the Wholesome Forfeiture Amount, as defined below), representing a value of $60,051,523 (the “Merger Consideration”), plus the potential Wholesome E