Company: VREOF
Filing Date: 2025-03-07
Form Type: PRE 14C
Source: 0001140361-25-007601
Chunk: 379

Company: Vireo Growth Inc.
Filing Date: 2025-03-07
Form: PRE 14C
Chunk 379
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     |  2,103,360 |
| Acquisition               |     |          — |     |      — |     |          — |
| Amortization              |     |   -140,057 |     |      — |     |   -140,057 |
| Balance December 31, 2023 |     | $1,960,803 |     |  2,500 |     |  1,963,303 |
| Acquisition               |     |  4,349,530 |     |      — |     |  4,349,530 |
| Amortization              |     |   -472,313 |     |      — |     |   -472,313 |
| Balance December 31, 2024 |     | $5,838,020 |     | $2,500 |     | $5,840,520 |

Amortization expense for intangibles was $472,313 and $140,057 during the years ended December 31, 2024 and 2023, respectively. No indications of impairment existed and not impairment of intangible assets was recorded for the years ended December 31, 2024 and 2023. The Company estimates that amortization expense will be $430,026 per year, for the next five years.

| NOTE 6: | INVESTMENT IN ARCHES IP, INC. |

On May 4, 2024, the Company purchased Series Seed-2 Preferred Stock for $1.4 million. The Company accounts for the investment under the cost method. As of December 31, 2024 the Company’s ownership was 15.3%.

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TABLE OF CONTENTS

| NOTE 7: | NOTES PAYABLE |

The following is a summary of the notes payable at December 31:

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |     |         2024 |     |         2023 |
| Promissory Note - Chicago Atlantic Admin, LLC dated May 9, 2022 which accrues interest at the rate of 11% per annum on the unpaid principal balance and an additional per annum of Paid-In-Kind (“PIK”) interest is applicable to the outstanding principal The entire principal balance and all accrued interest are due and payable on May 30, 2025.                                                                                                                                 |     | $ 26,312,510 |     | $ 23,756,438 |
| Promissory Note - Captiva Healing, LLC dated May