Company: VREOF
Filing Date: 2025-03-07
Form Type: PRE 14C
Source: 0001140361-25-007601
Chunk: 77

Company: Vireo Growth Inc.
Filing Date: 2025-03-07
Form: PRE 14C
Chunk 77
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 contested by the Stockholder Representative and the Company. The final Wholesome Closing Merger Consideration as determined pursuant to this paragraph is hereinafter referred to as the “Wholesome Actual Closing Merger Consideration.”

In the event that the Wholesome Actual Closing Merger Consideration exceeds the estimated Wholesome Closing Merger Consideration, then the Company may elect to pay to the Wholesome stockholders an amount in cash equal to such excess or issue additional Subordinate Voting Shares to the Wholesome Stockholders in a number equal to the amount of such excess divided by the closing share price of $0.52. In the event that the Wholesome Actual Closing Merger Consideration is less than the estimated Wholesome Closing Merger Consideration, the Stockholder Representative may elect to direct (i) the Company or the Wholesome Surviving Corporation to release to the Company an amount in cash equal to such shortfall from the Stockholder Representative Expense Fund, (ii) the Wholesome stockholders to pay to the Company in cash the amount of such shortfall, or (iii) the Wholesome Escrow Agent to release to the Company an aggregate number of Escrow Shares (rounded up to the nearest whole number)

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equal to the amount of such shortfall divided by the closing share price of $0.52, or any combination of the foregoing. The “Stockholder Representative Expense Fund” is an amount in cash equal to $500,000 that Wholesome is required to deposit prior to the Wholesome Closing in a separate designated account in the name of Wholesome for use by the Stockholder Representative.

The Subordinate Voting Shares received by the Wholesome stockholders are subject to certain customary restrictions on transfer. For additional information on such restrictions, see “Description of the Merger Agreements – Wholesome Merger – Lock-Up Letters” below. For additional information on the Company’s Subordinate Voting Shares, see “Description of the Company’s Securities” below.

Wholesome Earn-Out Amounts

Wholesome EBITDA Earn-Out Amount

The Wholesome stockholders will be eligible to receive an earn-out amount (the “Wholesome EBITDA Earn-Out Amount”) subject to the satisfaction of certain EBITDA performance thresholds as described below. The Wholesome Earn-Out Amount will be calculated as an amount equal to (i) the product of four (4) multiplied by the following