Company: VREOF
Filing Date: 2025-03-21
Form Type: DEFM14C
Source: 0001140361-25-009815
Chunk: 214

Company: Vireo Growth Inc.
Filing Date: 2025-03-21
Form: DEFM14C
Chunk 214
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 available to us as of the date of this Information Statement and while we believe that

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information provides a reasonable basis for these statements, that information may be limited or incomplete. Our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all relevant information. These statements are inherently uncertain, and investors are cautioned not to unduly rely on these statements. You should not rely upon forward-looking statements or forward-looking information as predictions of future events. Furthermore, such forward-looking statements or forward-looking information speak only as of the date of this Information Statement. Except as required by law, we undertake no obligation to update any forward-looking statements or forward-looking information to reflect events or circumstances after the date of such statements. Amounts are presented in United States dollars, except as otherwise indicated. Please see Appendix B for Wholesome’s financial statements for the years ended December 31, 2024 and December 31, 2023. Overview of Wholesome Wholesome was incorporated on June 15, 2020, as a Delaware corporation. Wholesome is a complete, plant-to-patient medical cannabis company. Wholesome cultivates, processes and sells high-quality cannabis products such as flowers, vape cartridges, edibles, beverages and concentrates. Wholesome is focused on providing the medicinal value of cannabis through its products as a natural path to health and wellness. Wholesome markets to retail stores and directly to consumers in the state of Utah in the United States of America. Year Ended December 31, 2024 Compared to the Year Ended December 31, 2023 Revenue Wholesome derived its revenue from cultivating, processing, and distributing cannabis products through our one dispensary and wholesale sales in Utah. For the year ended December 31, 2024, 84% of revenue was generated from retail dispensaries and 16% from the wholesale business. For the year ended December 31, 2023, 90% of revenue was generated from retail dispensaries and 10% from the wholesale business. Revenue for the year ended December 31, 2024 was $47,500,989, an increase of $10,321,206 or 28% compared to revenue of $37,179,783 for the year ended December 31, 2023. The increase was primarily attributable to increased patient count in Utah, increased delivery sales, increased product offerings, and improved product quality. Retail revenue for the year ended December