Company: VREOF
Filing Date: 2025-03-21
Form Type: DEFM14C
Source: 0001140361-25-009815
Chunk: 131

Company: Vireo Growth Inc.
Filing Date: 2025-03-21
Form: DEFM14C
Chunk 131
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 its subsidiaries, or any events that, individually or in the aggregate could reasonably be expected to result in a material adverse effect on such entities, as further described in the Proper Merger Agreement; |

| • | Proper and the Proper Companies have delivered to each other the closing deliverables required by the Proper Merger Agreement; |

| • | the Proper Companies and their subsidiaries having cash in an amount not less than (i) $3,000,000 (exclusive of any cash reserves required to be held by the Proper Companies and their subsidiaries in respect of certain tax obligations)plus(ii) the net cash flow from operating activities, on an after tax basis, of Proper and certain of its subsidiaries from January 1, 2025 through the Proper Closing Date (the “Proper Minimum Cash Amount”); |

| • | the required approval of the Proper Merger Agreement by the CSE having been received; |

| • | Proper delivering a Letter of Transmittal pursuant to the terms of the Proper Merger Agreement; |

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| • | certain third-party consents having been obtained; and |

| • | Proper having effected the Proper Restructuring as required by and described in the Proper Merger Agreements. |

The obligations of Proper and the Proper Companies to consummate the Proper Mergers are subject to the satisfaction or waiver of certain additional conditions, including the following:

| • | the accuracy of certain representations and warranties of the Company, Proper Merger Sub 1 and Proper Merger Sub 2 in the Proper Merger Agreement to be true and correct in all respects, subject to materiality qualifiers (or, with respect to such representations and warranties that are not subject to materiality qualifiers, in all material respects), or, in the case of the Company’s (and Proper Merger Sub 1’s and Proper Merger Sub 2’s) organization and authority, capitalization, and broker fee representations and warranties, other than for anyde minimisinaccuracies, as of the date of the Proper Merger Agreement, and as of Proper Closing Date, or, as applicable, the date in respect of which such representation or warranty was specifically made; |

| • | the Company, Proper Merger Sub 1, and Proper Merger Sub 2 having performed in all material respects their obligations under the Proper Merger Agreement on or prior to the Proper Closing Date; |

| • | since the date of the Proper Merger Agreement, there not having occurred any material adverse effect with respect