Company: VREOF
Filing Date: 2025-03-11
Form Type: PREM14C
Source: 0001140361-25-008065
Chunk: 164

Company: Vireo Growth Inc.
Filing Date: 2025-03-11
Form: PREM14C
Chunk 164
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 of the date of the opinion and based upon and subject to the assumptions made, procedures followed, matters considered and other limitations set forth in the opinion, the consideration to be paid by the Company in the Transactions, taken as a whole, was fair, from a financial point of view, to the Company. The Board understood that Moelis’ opinion was based upon the assumption that all of the Transactions (including the potential transaction contemplated by the Bill’s Nursery MOU) would be executed and consummated. In addition, an executive session of the Board and its Nominating and Corporate Governance committee was held, at which Mr. John Mazarakis’ and Mr. Tyson Macdonald’s employment agreements, as well as the appointment of Mr. Mazarakis as CEO and Co-Executive Chairman of the Board, and Mr. Macdonald as CFO, were discussed and then unanimously approved. Following the executive session and deliberation, the Board unanimously (i) determined that the Merger Agreements and the transactions contemplated in each case thereby, including the Share Issuance, are fair to, and in the best interests of, the Company’s shareholders, (ii) approved the Merger Agreements, the Share Issuance and the related transactions and (iii) recommended that the Company’s shareholders approve the Merger Agreements and the transactions in each case contemplated thereby, including the Share Issuance. The Board also unanimously approved the execution of the Bill’s Nursery MOU and the initiation of a separate private placement equity offering that the Company planned to conduct and certain documents related to such offering.

Early in the morning of December 18, 2024, the Company and each of Deep Roots, Proper and Wholesome executed the applicable Merger Agreements. Also on that day, the Company and Bill’s Nursery executed a new MOU, under which the Company would have an opportunity to exclusively negotiate a transaction with Bill’s Nursery until January 24, 2025. As part of the Bill’s Nursery MOU, the Company agreed to pay Bill’s Nursery $1 million in cash, which would be repaid at the closing of an acquisition transaction. If the parties failed to execute a definitive agreement by the end of the exclusivity period, Bill’s Nursery would be obligated to pay $1.25 million to the Company.

Later that day, the Company issued a press release reporting execution of the Transaction Agreements.

On December 23, 2024, the Company filed a Form 8-K with the Securities and Exchange