Company: VREOF
Filing Date: 2025-06-12
Form Type: 8-K
Source: 0001104659-25-058908
Chunk: 6

Company: Vireo Growth Inc.
Filing Date: 2025-06-12
Form: 8-K
Item: Item 2.03
Chunk 6
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Item 2.03      Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.  

The information set forth under Item 2.01 of this Current Report on
Form 8-K related to the aggregate outstanding net debt of Deep Roots to the Agent and/or its affiliates of approximately $19,200,000 pursuant
to a Loan and Security Agreement dated as of April 15, 2024 by and among Deep Roots and certain of its affiliates, the Agent, and certain
other parties thereto (as amended, the “ CA Loan Agreement”), which debt continues to be held by Deep Roots after the Closing,
is incorporated herein by reference, to the extent required herein. On the Closing Date, as a result of the Merger, the Company became
indirectly obligated under the CA Loan Agreement. The debt under the CA Loan Agreement bears interest at a per annum rate equal to the
Prime Rate (as defined therein) plus 6.5%, payable monthly in arrears. Payment amounts in respect of principal are also payable monthly
in an amount equal to 0.83333% of the aggregate principal amount of all loans made to the borrowers under the CA Loan Agreement, with
the remaining outstanding principal and interest due on the maturity date of August 15, 2027. The CA Loan Agreement includes standard
events of default with respect to Deep Roots and its affiliates in their capacities as borrowers. Upon the occurrence and during the continuance
of an event of default, the Agent may, among things, accelerate obligations under the CA Loan Agreement such that they are immediately
due and payable, or increase the interest rate payable under the CA Loan Agreement by 3% per annum. The foregoing description of the CA
Loan Agreement is only a summary, does not purport to be complete and is qualified in its entirety by reference to the full text of the
CA Loan Agreement, which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the quarter ending June
30, 2025.