Company: VREOF
Filing Date: 2025-12-09
Form Type: S-3
Source: 0001104659-25-119699
Chunk: 30

Company: Vireo Growth Inc.
Filing Date: 2025-12-09
Form: S-3
Chunk 30
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as a “U.S. Holder”.

This
summary is not applicable to a U.S. Holder that is (i) an insurer carrying on an insurance business in Canada and elsewhere, or (ii) an
“authorized foreign bank” (as defined in the Tax Act) or (iii) another U.S. Holder of special status. Such U.S. Holders
should consult their own Tax Advisors.

This
summary is based on the current provisions of the Tax Act, and an understanding of the current administrative policies of the Canada Revenue
Agency published in writing prior to the date hereof. It takes into account all specific proposals to amend the Tax Act and the Convention
Between Canada and the United States of America with Respect to Taxes on Income and on Capital, signed September 26, 1980, as amended
(the “Canada-U.S. Tax Convention”), publicly announced by or on behalf of the Minister of Finance (Canada) prior to
the date hereof, referred to as the "Proposed Amendments" and assumes that all Proposed Amendments will be enacted in the form
proposed. However, no assurances can be given that the Proposed Amendments will be enacted as proposed, or at all. Except as otherwise
expressly provided, this summary does not take into account any provincial, territorial or foreign (including without limitation, any
United States) tax law or treaty.

This summary is of a general nature only and is not intended to be, nor should it be construed to be, legal or tax advice to any specific purchaser, and no representations with respect to the income tax consequences to any purchaser are made. Holders of Subordinate Voting Shares should consult their own tax advisors for advice with respect to the tax consequences to them of holding and disposing of such shares, having regard to their particular circumstances.

Each U.S. Holder is advised to obtain tax and legal advice applicable to such U.S. Holder’s particular circumstances.

Currency Conversion

In general,
for purposes of the Tax Act, all amounts relating to the acquisition, holding or disposition of the Subordinate Voting Shares must be
converted into Canadian dollars based on the applicable exchange rate quoted by the Bank of Canada for the relevant day or such other
rate of exchange that is acceptable to the Canada Revenue Agency.

Dividends

Dividends
paid or credited on the Subordinate Voting Shares or deemed to be paid or credited on the Subordinate Voting Shares to a U.S. Holder will
be subject to Canadian withholding tax at the rate of 25%. Under the Canada