[PRESS RELEASE] – MINNEAPOLIS, June 1, 2026 – Vireo Growth Inc. announced the consolidation of its subordinate voting shares, multiple voting shares and super voting shares at a ratio of 30-for-1 (the “share consolidation ratio”), expected to be effective at market open on the record date of June 5, 2026 (the “share consolidation”).
At the annual general and special meeting of shareholders held on May 29, 2026, the company’s shareholders, on a class basis, approved a proposal to allow the board to proceed with a share consolidation of the company’s subordinate voting shares and multiple voting shares on the basis of not less than 20-for-1 and not more than 40-for-1 with the exact ratio of the share consolidation to be determined by the board of directors. On June 1, 2026, the board approved the share consolidation ratio of 30-for-1 and for the share consolidation to be effective at market open on the record date of June 5, 2026.
On the record date, the number of issued and outstanding subordinate voting shares will be reduced from 1,455,017,319 to approximately 48,500,577, subject to minor adjustments resulting from rounding, and the number of issued and outstanding multiple voting shares will be reduced from 232,490 to approximately 7,749. There are currently no super voting shares issued and outstanding. Each shareholder’s respective percentage ownership in the company and proportional voting power will remain unchanged as a result of the share consolidation, except for minor adjustments resulting from rounding.
No fractional shares will be issued in connection with the completion of the share consolidation. If a holder of subordinate voting shares or multiple voting shares would otherwise be entitled to a fraction of a share, then the number of post-consolidation subordinate voting shares or post-consolidation multiple voting shares issuable to such shareholder shall be rounded down to the nearest whole number of post-consolidation share.
No cash or other compensation will be paid in respect of fractional shares. The exercise or conversion price and the number of shares issuable under any of the company’s outstanding convertible securities will be proportionately adjusted in connection with the share consolidation.
Upon the effectiveness of the share consolidation, the subordinate voting shares will continue to trade on the Canadian Securities Exchange (CSE) under the symbol “VREO” and on the OTCQX under the symbol “VREOF,” on a post-consolidation basis, under a new ISIN/CUSIP number. The current ISIN and CUSIP for the subordinate voting shares are CA92767B1058 and 92767B105, respectively, and following the share consolidation, the new ISIN and CUSIP will be CA92767B2049 and 92767B204, respectively.
