Extension Agreement to Memorandum of Understanding between Vireo Growth Inc. and Bill’s Nursery, Inc. (January 23, 2025)
Vireo Growth Inc. and Bill’s Nursery, Inc. have agreed to extend the exclusivity period in their existing Memorandum of Understanding regarding a proposed transaction. The new exclusivity end date is February 23, 2025, replacing the previous date of January 24, 2025. All other terms of the original MOU remain unchanged. This extension allows both parties more time to negotiate the proposed transaction under exclusive terms.
Exhibit 10.1
EXECUTION VERSION
CONFIDENTIAL
Bill’s Nursery, Inc.
Attention: Elad Kohen
January 23, 2025
| Re: | Extension of Memorandum of Understanding (“MOU”) regarding a Proposed Transaction involving a to-be determined U.S. affiliate of Vireo Growth Inc., a British Columbia corporation (as applicable, “Vireo”) and Bill’s Nursery, Inc., a Florida corporation (the “Company”). |
Dear Mr. Kohen:
Reference is made to that certain MOU, effective as of December 18, 2024, by and between Vireo and the Company. For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties to this letter agreement hereby agree that the reference to “January 24, 2025” in the definition of “Exclusivity Period” in the first sentence of Section 3 of the MOU shall be deleted and replaced with “February 23, 2025”. Except as modified by this letter, the MOU and the parties’ obligations thereunder shall remain unchanged.
| Yours very truly, | |
| Vireo Growth, Inc. |
| By: | /s/ Kyle Kingsley | |
| Name: | Kyle Kingsley | |
| Title: | Executive Chairman |
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The undersigned hereby accepts the above letter on behalf of the Company and confirms that it reflects the parties’ understanding.
Dated this 23rd day of January, 2025
| Bill’s Nursery Inc. | ||
| By: | /s/ Elad Kohen | |
| Name: | Elad Kohen | |
| Title: | CEO | |
