Company: VREOF
Filing Date: 2025-03-11
Form Type: PREM14C
Source: 0001140361-25-008065
Chunk: 363

Company: Vireo Growth Inc.
Filing Date: 2025-03-11
Form: PREM14C
Chunk 363
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2023, the Company entered into a 10-year lease agreement for property in Grantsville, Utah that is owned by members of the Company. During 2024 and 2023, lease payments totaled $398,744 and $276,767, respectively. See Note 5 and 6 for related-party line of credit and long-term debt transactions.

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TABLE OF CONTENTS

Arches issued Series 2 preferred stock to a noncontrolling interest investor (See Note 7) who is also a customer of Arches. For the year ended December 31, 2024, no revenue was recognized from this customer; however, as of December 31, 2024, the Company has $312,500 of deferred revenue from this customer classified in accrued liabilities on the consolidated balance sheet. 10. Retirement Plan The Company sponsors a defined contribution 401(k) retirement plan (the Retirement Plan). Employees who have completed two months of service and are 21 years of age are eligible to participate in the Retirement Plan. Employees may elect to contribute a portion of their annual compensation subject to certain limits. As set forth in the Retirement Plan document, a discretionary contribution may be made by the Company that matches a percentage of annual compensation contributed by the participants in the Retirement Plan. For the years ended December 31, 2024 and 2023, the Company contributed $523,759 and $172,171, respectively, to the Retirement Plan. 11. Income Taxes The (provision) benefit for income taxes consisted of the following for the year ended December 31:

|          |     |         2024 |     |         2023 |
| Current  |     | $(5,168,500) |     | $(3,338,840) |
| Deferred |     |      -17,302 |     |      314,500 |
|          |     | $(5,185,802) |     | $(3,024,340) |

The (provision) benefit for income taxes differs from the amount computed at federal statutory rates as follows for the year ended December 31:

|                                                 |     |         2024 |     |         2023 |
| Federal income tax at statutory rates           |     | $(2,144,433) |     |   $(654,285) |
| State income taxes, net of federal tax benefits |     |     -245,694 |     |     -116,375 |
| Uncertain tax positions