Company: VREOF
Filing Date: 2025-06-06
Form Type: 8-K
Source: 0001104659-25-057335
Chunk: 2

Company: Vireo Growth Inc.
Filing Date: 2025-06-06
Form: 8-K
Item: Item 2.01
Chunk 2
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Item 2.01.      Completion of Acquisition or Disposition of Assets  

On June 5, 2025 (the “ Closing Date”), the Company completed
its previously announced acquisition of the Acquired Companies (the “ Mergers”). As previously announced, the Company, Merger
Subs, the Acquired Companies, Holdings, and Representative entered into the Merger Agreement. Capitalized terms used herein without
a definition have the meanings given to such terms in the Merger Agreement.

In connection with the Mergers, NGH merged with and into Merger Sub
1 and MSA Newco merged with and into Merger Sub 2, with each Merger Sub surviving as a wholly-owned subsidiary of the Company. Pursuant
to the Merger Agreement, the Company issued 196,212,265 of its subordinate voting shares (the “ Parent Shares”) in respect
of the Estimated Closing Merger Consideration in connection with the Mergers, which number of Parent Shares is equal to the amount of
the Estimated Closing Merger Consideration divided by $0.52. 176,591,038 of such Parent Shares were issued to Holdings as the Closing
Share Payment, and 19,621,227 Parent Shares (representing 10% of the aggregate number of Parent Shares issued as part of the Estimated
Closing Merger Consideration), were delivered to Odyssey Trust Company in its capacity as escrow agent. The Parent Shares issued pursuant
to the Merger Agreement are subject to a post-closing purchase price adjustment with respect to certain of the estimated items included
in the Estimated Closing Merger Consideration, and Holdings is also eligible to receive additional Parent Shares pursuant to certain earn-out
payments as described in the Merger Agreement and summarized below.

Pursuant to rules adopted by the Securities and Exchange Commission
(the “ SEC”) under the Securities Exchange Act of 1934, as amended (the “ Exchange Act”), a Schedule DEFM 14C information
statement was prepared by the Company and filed with the SEC and mailed to Holdings on March 21, 2025 relating to the Mergers (the
“ Information Statement”).

The consideration paid to acquire the Acquired Companies was based
in part on the product of an Acquisition Multiple of 4.175 multiplied by the Closing EBITDA of $31,000,000 and a $0.52 share reference
price for the Parent Shares. For more information on the calculation of the Closing Merger Consideration and