Company: VREOF
Filing Date: 2025-07-24
Form Type: 424B3
Source: 0001104659-25-070426
Chunk: 23

Company: Vireo Growth Inc.
Filing Date: 2025-07-24
Form: 424B3
Chunk 23
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 direction over), five percent (5%) or more of the issued and outstanding Company Shares (calculated
on as-converted to Subordinate Voting Shares basis), who a governmental authority granting licenses to the Company (including to any subsidiary)
has determined to be unsuitable to own shares, or whose ownership of Shares may result in the loss, suspension or revocation (or similar
action) with respect to any licenses relating to the conduct of the Company’s business relating to the cultivation, processing and
dispensing of cannabis and cannabis-derived products in the United States or in the Company being unable to obtain any new licenses in
the normal course, including, but not limited to, as a result of such person’s failure to apply for a suitability review from or
to otherwise fail to comply with the requirements of a governmental authority, as determined by the Board of Directors in its sole discretion
after consultation with legal counsel and, if a license application has been filed, after consultation with the applicable governmental
authority.

Pursuant to the Articles, the Company has a right,
but not the obligation, at its option, to redeem Subordinate Voting Shares held by an Unsuitable Person at a redemption price per share,
unless otherwise required by any governmental authority, equal to the Unsuitable Person Redemption Price (as defined below).

A redemption notice may be delivered by the Company
to any Unsuitable Person setting forth: (i) the redemption date, (ii) the number of Shares to be redeemed, (iii) the formula
pursuant to which the redemption price will be determined and the manner of payment therefor, (iv) the place where such Shares (or
certificate thereto, as applicable) will be surrendered for payment, duly endorsed in blank or accompanied by proper instruments of transfer,
(v) a copy of the Valuation Opinion (as defined below) if the Company is no longer listed on the CSE or another recognized securities
exchange, and (vi) any other requirement of surrender of the redeemed shares. The redemption notice will be sent to the Unsuitable
Person not less than 30 trading days prior to the redemption date, except as otherwise provided below. The Company will send a written
notice confirming the amount of the redemption price as soon as possible following the determination of such redemption price. The redemption
notice may be conditional such that the Company need not redeem Shares on the redemption date if the Board of Directors determines, in
its sole discretion, that such redemption is no longer advisable or necessary.

For purposes of the foregoing