Company: VREOF
Filing Date: 2025-12-09
Form Type: S-3
Source: 0001104659-25-119699
Chunk: 12

Company: Vireo Growth Inc.
Filing Date: 2025-12-09
Form: S-3
Chunk 12
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 Agreement, and on October 13, 2022,
we commenced an action in the Supreme Court of British Columbia against Verano.

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On October 29, 2025, the Company reached a comprehensive settlement (the “ Settlement Agreement”) dismissing all outstanding litigation matters between the Company and Verano that are pending before the Supreme Court of British Columbia, Canada. The terms of the Settlement Agreement were approved by the respective Boards of Directors of both Companies. The value of the settlement to the Company is approximately $10,000,000 consisting of the acquisition of real property and $1,000,000 in cash. Credit Bid for Schwazze Assets In connection with the acquisition of a majority of the outstanding principal amount of 13% Senior Secured Convertible Notes due December 7, 2026 (the “ Senior Secured Notes”) of Schwazze, Vireo Health of Colorado, LLC, a Colorado limited liability company and wholly-owned subsidiary of the Company, entered into a restructuring support agreement (the “ RSA”) with Schwazze and certain related entities on October 10, 2025. The RSA sets forth a plan to restructure the operations and capital structure of Schwazze and its subsidiaries through a series of transactions, including, but not limited to (i) the purchase of certain assets representing a majority of the total assets of Schwazze and its subsidiaries (the “ Asset Sale”) by a newly-formed entity (“ NewCo”) to ultimately be majority owned by the Company, and (ii) the liquidation of Schwazze’s remaining assets and winding down of Schwazze’s remaining operations. The RSA provided for the Asset Sale to be effected by way of public disposition of collateral pursuant to §§ 9-610 and 9-611 of the Uniform Commercial Code. On November 13, 2025, the Asset Sale took place and the collateral agent under the indenture governing the Senior Secured Notes, acting at the direction of the Company, credit bid approximately $111 million principal amount of Senior Secured Notes (the “ Credit Bid”). The Company’s Credit Bid was the winning bid at the Asset Sale. Following its win of the Credit Bid, Schwazze entered into an asset purchase agreement with NewCo on November 13, 2025, pursuant to which, subject to receipt of regulatory approvals and other closing conditions, the assets subject to the Asset Sale will be transferred to NewCo in consideration for an assumption by NewCo of certain specified liabilities of