Company: VREOF
Filing Date: 2025-03-11
Form Type: PREM14C
Source: 0001140361-25-008065
Chunk: 177

Company: Vireo Growth Inc.
Filing Date: 2025-03-11
Form: PREM14C
Chunk 177
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 trading price of the Vireo Subordinate Voting Shares of $0.24 per share on December 16, 2024 (which implied an equity value of Vireo of $58 million). |

Miscellaneous This summary of the analyses is not a complete description of Moelis’ opinion or the analyses underlying, and factors considered in connection with, Moelis’ opinion. The preparation of a fairness opinion is a complex analytical process and is not necessarily susceptible to partial analysis or summary description. Selecting portions of the analyses or summary set forth above, without considering the analyses as a whole, could create an incomplete view of the processes underlying Moelis’ opinion. In arriving at its fairness determination, Moelis considered the results of all of its analyses and did not attribute any particular weight to any factor or analysis. Rather, Moelis made its fairness determination on the basis of its experience and professional judgment after considering the results of all of its analyses. No company used in the analyses described above is identical to Vireo or any of the Targets. In addition, such analyses do not purport to be appraisals, nor do they necessarily reflect the prices at which businesses or securities actually may be sold. Analyses based upon forecasts of future results are not necessarily indicative of actual future results, which may be significantly more or less favorable than suggested by such analyses. Because the analyses described above (including much of the information used therein) are inherently subject to uncertainty, being based upon numerous factors or events beyond the control of the parties or their respective advisors, neither Vireo nor Moelis, or any other person, assumes responsibility if future results are materially different from those forecasts. The Consideration was determined through arms’ length negotiations between Vireo and the Targets and was approved by the Board. Moelis did not recommend any specific consideration to Vireo or the Board, or that any specific amount or type of consideration constituted the only appropriate consideration for the transactions contemplated by the Transaction Agreements. Vireo did not instruct Moelis to prepare, and Moelis has not prepared, a formal valuation of Vireo, any of the Targets or any of their respective securities or assets, and Moelis’ fairness opinion should not be construed as such. Except as described in this summary, Vireo and the Board imposed no other instructions or limitations on Moelis with respect to the investigations made or procedures followed by Moelis in rendering its opinion. Moelis acted as the financial advisor to