SCHEDULE: Roger Primm Discloses 6.5% Stake in Vireo Growth Inc.

Roger Primm and RP Holding, LLC have reported a 6.5% beneficial ownership stake in Vireo Growth Inc.'s Subordinate Voting Shares.

Summary

• Roger Primm and RP Holding, LLC collectively hold 59,630,517 Subordinate Voting Shares of Vireo Growth Inc.
• This ownership represents 6.5% of the class of securities.
• The reporting persons share both voting and dispositive power over all 59,630,517 shares.
• The filing indicates a passive investment, not for the purpose of changing or influencing control of the issuer.
• The event requiring this filing occurred on June 6, 2025.
• The Schedule 13G statement was signed on September 19, 2025.

Sentiment

Score: 6

Explanation: The filing indicates a significant passive investment by a notable individual, which can be viewed as a positive signal of confidence in the company's value, though it provides no operational or financial updates.

Positives

• A significant investor, Roger Primm, has taken a 6.5% stake in Vireo Growth Inc., potentially signaling confidence in the company's long-term prospects.
• The filing indicates a passive investment, suggesting the investor is not seeking to disrupt current management or strategy.

Risks

• The filing explicitly states that the securities were not acquired for the purpose of changing or influencing control of the issuer, mitigating immediate governance risks from this specific shareholder.

Industry Context

This filing indicates a significant individual and entity, Roger Primm and RP Holding, LLC, have acquired a substantial passive stake in Vireo Growth Inc. Such filings are common when an investor crosses the 5% ownership threshold, signaling a notable position in the company without necessarily implying an activist intent.

Stakeholder Impact

• Shareholders: The disclosure of a significant passive stake by Roger Primm and RP Holding, LLC may instill confidence in existing shareholders, as it indicates a notable investor sees value in Vireo Growth Inc.
• Management: Management may view this as a vote of confidence, as the investor has certified a passive intent, not seeking to influence control.

Key Dates

Recommendation

This Schedule 13G filing primarily discloses a significant passive ownership stake by Roger Primm and RP Holding, LLC in Vireo Growth Inc. While the acquisition of a 6.5% stake by a notable investor can be seen as a positive signal of confidence, the filing itself does not provide new financial performance data, strategic updates, or operational insights that would warrant a change in investment recommendation. It is a disclosure of ownership, not a performance report. Therefore, a 'hold' recommendation is appropriate as this filing alone does not present sufficient new information to alter a fundamental investment thesis, but it does confirm a significant investor's position.

Keywords

Vireo Growth Inc., Roger Primm, RP Holding, Schedule 13G, Beneficial Ownership, Subordinate Voting Shares, Passive Investment, SEC Filing