Company: VREOF
Filing Date: 2025-03-11
Form Type: PREM14C
Source: 0001140361-25-008065
Chunk: 376

Company: Vireo Growth Inc.
Filing Date: 2025-03-11
Form: PREM14C
Chunk 376
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 the foregoing, if the Asset Purchase Agreement is terminated prior to the Closing by the Holder pursuant to the Asset Purchase Agreement, then the Loan and any other amounts outstanding under this Note shall be due and payable on the date that is sixty (60) days from the termination of the Asset Purchase Agreement. Any accrued interest will not be due on the execution of the Asset Purchase Agreement. (See Note 18 - Commitments)                    |     |  4,365,858 |     |          — |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |     | $9,365,858 |     | $2,500,000 |

| NOTE 5: | INTANGIBLE ASSETS, NET |

Intangible assets are comprised of the following items:

|                           |     |    License |     |  Brand |     |      Total |
| Balance December 31, 2022 |     |  2,100,860 |     |  2,500 |     |  2,103,360 |
| Acquisition               |     |          — |     |      — |     |          — |
| Amortization              |     |   -140,057 |     |      — |     |   -140,057 |
| Balance December 31, 2023 |     | $1,960,803 |     |  2,500 |     |  1,963,303 |
| Acquisition               |     |  4,349,530 |     |      — |     |  4,349,530 |
| Amortization              |     |   -472,313 |     |      — |     |   -472,313 |
| Balance December 31, 2024 |     | $5,838,020 |     | $2,500 |     | $5,840,520 |

Amortization expense for intangibles was $472,313 and $140,057 during the years ended December 31, 2024 and 2023, respectively. No indications of impairment existed and not impairment of intangible assets was recorded for the years ended December 31, 2024 and 2023. The Company estimates that amortization expense will be $430,026 per year, for the next five years.

| NOTE 6: | INVESTMENT IN ARCHES IP, INC. |

On May 4, 2024, the Company purchased Series Seed-2 Preferred Stock for $1.4 million