Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities
Trading Price and Volume
Our Subordinate Voting Shares are traded on the CSE under the symbol “VREO.” The following table sets forth trading information for the Subordinate Voting Shares for the periods indicated, as quoted on the CSE.
Low Trading Price
High Trading Price
Period
(C$)
(C$)
Quarter Ending March 31, 2026
First Quarter (through March 1, 2026)
$
0.600
$
0.860
Year Ended December 31, 2025
Fourth Quarter (December 31, 2025)
$
0.570
$
1.010
Third Quarter (September 30, 2025)
$
0.470
$
1.050
Second Quarter (June 30, 2025)
$
0.480
$
0.680
First Quarter (March 31, 2025)
$
0.430
$
0.850
Year Ended December 31, 2024
Fourth Quarter (December 31, 2024)
$
0.345
$
0.820
Third Quarter (September 30, 2024)
$
0.540
$
0.840
Second Quarter (June 30, 2024)
$
0.510
$
0.950
First Quarter (March 31, 2024)
$
0.320
$
0.610
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Our Subordinate Voting Shares also are traded on the OTCQX under the symbol “VREOF.” The following table sets forth trading information for the Subordinate Voting Shares for the periods indicated, as quoted on the OTCQX.
Low Trading Price
High Trading Price
Period
(US$)
(US$)
Quarter Ending March 31, 2026
First Quarter (through March 1, 2026)
$
0.440
$
0.610
Year Ended December 31, 2025
Fourth Quarter (December 31, 2025)
$
0.400
$
0.730
Third Quarter (September 30, 2025)
$
0.370
$
0.770
Second Quarter (June 30, 2025)
$
0.330
$
0.460
First Quarter (March 31, 2025)
$
0.310
$
0.570
Year Ended December 31, 2024
Fourth Quarter (December 31, 2024)
$
0.245
$
0.590
Third Quarter (September 30, 2024)
$
0.410
$
0.610
Second Quarter (June 30, 2024)
$
0.367
$
0.680
First Quarter (March 31, 2024)
$
0.237
$
0.450
Shareholders
As of March 1, 2026, there were approximately 5,000 holders of record of our Subordinate Voting Shares, 153 holders of record of our Multiple Voting Shares, and 0 holders of record of our Super Voting Shares.
Dividends
We have not paid, and do not in the foreseeable future intend to pay, any dividends on the Subordinate Voting Shares or any other equity. The declaration and payment of future dividends to holders of our Shares will be at the discretion of the Board of Directors and will depend upon many factors, including our financial condition, earnings, legal requirements, restrictions in our debt agreements and other factors deemed relevant by the Board of Directors. In addition, as a holding company, our ability to pay dividends depends on our receipt of cash dividends from our operating subsidiaries, which may further restrict our ability to pay dividends as a result of the laws of their respective jurisdictions of organization, agreements of our subsidiaries or covenants under future indebtedness that the Company or our subsidiaries may incur. See “ Item 1A. Risk Factors — Risks Related to Our Securities — We do not intend to pay dividends on our Subordinate Voting Shares and, consequently, the ability of investors to achieve a return on their investment will depend entirely on appreciation in the price of our Subordinate Voting Shares ” and “ — We are a holding company, and our earnings are dependent on the earnings and distributions of our subsidiaries.”
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
During the three months ended December 31, 2025, 26,440 Multiple Voting Shares were converted into 2,644,000 Subordinate Voting Shares for no additional consideration pursuant to Section 3(a)(9) of the Securities Act of 1933, as amended (the “Securities Act”).
Recent Sales of Unregistered Securities
Except as previously disclosed, we did not issue any unregistered securities during the year ended December 31, 2025.
Item 6. Reserved
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