Company: VREOF
Filing Date: 2025-03-07
Form Type: PRE 14C
Source: 0001140361-25-007601
Chunk: 268

Company: Vireo Growth Inc.
Filing Date: 2025-03-07
Form: PRE 14C
Chunk 268
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 805”): |

| B1 | Represents adjustments related to: (1) the elimination of the historical Deep Roots goodwill balance of $6,415,705 given it is not an identifiable asset under ASC 805; (2) the estimated preliminary purchase price allocation for the Deep Roots Merger, including the issuance of Vireo’s Subordinate Voting Shares to legacy Deep Roots shareholders as consideration transferred; and (3) the recognition of acquired intangible assets and goodwill of $50,708,223. Refer to the table in Note 4 below for additional information related to these adjustments. This adjustment also represents the elimination of Deep Roots’ historical equity as a result of the business combination by: (1) reclassifying Deep Roots’ ‘Retained earnings’ balance of $52,337,972 to Additional paid-in capital; and (2) reclassifying Deep Roots Common stock’ balance of $100,000 to Additional paid-in capital. |

| B2 | Represents adjustments related to (1) the estimated preliminary purchase price allocation for the Proper Mergers, including the issuance of Vireo’s Subordinated Voting Shares to Proper as consideration transferred and (2) the recognition of acquired intangible assets and goodwill of $51,595,614. Refer to the table in Note 4 below for additional information related to these adjustments. This adjustment also represents the elimination of the Proper Companies’ historical equity as a result of the business combination by reclassifying the Proper Companies’ ‘Member’s equity’ balance of $30,337,678 to Additional paid-in capital; as well as the elimination of the Proper Companies’ ‘Investment’ balance to ‘Goodwill’ in the amount of $1,400,000 which represents the Proper Companies’ minority interest in Arches, a consolidated entity of Wholesome. This investment will be eliminated upon consolidation as Wholesome and the Proper Companies collectively own a 100% interest in Arches, and Vireo will be acquiring a 100% interest in both Wholesome and the Proper Companies (i.e., after the Mergers, Arches will be a wholly-owned subsidiary of Vireo). |

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| B3 | Represents adjustments related to: (1) the estimated preliminary purchase price allocation for the Wholesome Merger, including the issuance of Vireo’s Subordinate Voting Shares to legacy Wholesome shareholders as consideration transferred, and (2) the recognition of acquired intangible assets and goodwill of $56