Company: VREOF
Filing Date: 2025-07-24
Form Type: 424B3
Source: 0001104659-25-070426
Chunk: 5

Company: Vireo Growth Inc.
Filing Date: 2025-07-24
Form: 424B3
Chunk 5
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 occur after the date on which the
statement is made.

The factors that could cause actual results to
differ materially from our expectations, assumptions and beliefs, include, but are not limited to, the risks described under “Risk Factors” and the following:

| · | Marijuana remains illegal under U.S. federal law. |

| · | U.S. state and local regulation of cannabis is uncertain and changing. New state or local laws may be 
 enacted which affect our product offerings or manufacturing processes.                                |

| · | We are involved in litigation with Verano Holdings Inc., the outcome of which is uncertain. |

| · | Cannabis businesses are subject to applicable anti-money laundering laws and regulations and have restricted                               
 access to banking and other financial services. Recent events in the banking industry may further restrict our ability to access financial 
 services including obtaining traditional bank financing.                                                                                   |

| · | We operate in a highly regulated sector and may not always succeed in complying fully with applicable 
 regulatory requirements in all jurisdictions where we carry on business.                              |

| · | Investors in the Company who are not U.S. citizens may be denied entry into the United States. |

| · | The Company and its merger targets may not integrate successfully. |

| · | It may be challenging for the Company to service the additional indebtedness incurred as a result of the 
 recent mergers.                                                                                          |

| · | Our shareholders may not realize a benefit from the recent mergers commensurate with the ownership dilution 
 they experienced in connection with the mergers.                                                            |

| · | The stockholders of Deep Roots Holdings, Inc., the stockholders of WholesomeCo, Inc., and Proper Holdings,                                          
 LLC in its capacity as the sole shareholders of each of Proper Holdings Management, Inc. and NGH Investments, Inc. and the equityholders            
 of Proper Holdings, LLC and other subsequent recipients of the Company’s subordinate voting shares from Proper Holdings, LLC pursuant               
 to the Proper merger agreement, have agreed or will agree to indemnify the Company for certain damages arising from certain of the representations, 
 warranties, covenants, and agreements of each of these entities, respectively, in each case as set forth in the merger agreements. However,         
 there can be no assurance that these indemnities will be sufficient to make the Company whole for the full amount of such damages, or               
 that such indemnifying parties’ ability to satisfy their respective indemnification obligation will not be impaired in the future.                  |

| · | The Company’s ability