Verano Founder and Chief Executive Officer George Archos Celebrates Historic Announcement Confirming Cannabis Rescheduling to Schedule III
Rhea-AI Summary
Verano (Cboe CA: VRNO / OTCQX: VRNO) celebrated the April 23, 2026 announcement that cannabis was rescheduled from Schedule I to Schedule III under the Controlled Substances Act. The company highlighted potential benefits for medical research, commercialization, and normalization of the industry.
Verano noted its operations span 13 states with 162 dispensaries and 14 cultivation and processing facilities totaling more than 1.1 million sq ft of cultivation capacity.
Positive
- Cannabis rescheduled to Schedule III (announced April 23, 2026)
- Operations across 13 U.S. states
- 162 dispensaries under Zen Leaf and MÜV banners
- 14 cultivation and processing facilities
- Over 1.1 million square feet of cultivation capacity
Negative
- Forward-looking statements subject to risks in the 2025 Form 10-K
- Business outcomes remain dependent on evolving federal and state rules
News Market Reaction – VRNO
In the Apr 23 session, VRNO declined 19.82%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Verano’s active operations span 13 states, comprised of 162 dispensaries operating under the Zen Leaf™ and MÜV™ retail banners, and 14 cultivation and processing facilities with more than 1.1 million square feet of cultivation capacity
CHICAGO, April 23, 2026 (GLOBE NEWSWIRE) -- Verano Holdings Corp. (Cboe CA: VRNO) (OTCQX: VRNO) (“Verano” or the “Company”), a leading multi-state cannabis company, celebrates today’s announcement that cannabis will be rescheduled from Schedule I to Schedule III in the Controlled Substances Act.
Quote from Verano Founder and Chief Executive Officer George Archos:
“We’re thankful for the leadership, commitment and coordinated efforts of President Trump and Attorney General Blanche to reschedule cannabis to Schedule III, which will provide countless health and wellness benefits for Americans nationwide.
Completing the historic rescheduling of cannabis to Schedule III promises to unlock the full medical, research and commercial potential of this miracle plant and support the growth and normalization of America’s next great industry in the United States.”
Media Resources:
- B-Roll and Images: available for download in Verano’s Media Kit (credit “courtesy of Verano”).
- Executive Interview Requests: please contact Steve Mazeika (Steve.Mazeika@verano.com) and Grace Bondy (Grace.Bondy@verano.com).
- Investor Website: https://investors.verano.com/
About Verano
Verano Holdings Corp. (Cboe CA: VRNO) (OTCQX: VRNO), one of the U.S. cannabis industry’s leading companies based on historical revenue, geographic scope and brand performance, is a vertically integrated, multi-state operator embracing a mission of saying Yes to plant progress and the bold exploration of cannabis. Verano provides a superior cannabis shopping experience in medical and adult use markets under the Zen Leaf™ and MÜV™ dispensary banners, and produces a comprehensive suite of high-quality, regulated cannabis products sold under its diverse portfolio of trusted consumer brands including Savvy™, (the) Essence™, Swift Lifts™, HYPHEN™, Encore™, BITS™, Avexia™, MÜV™, CTPharma™, and Verano™. Verano’s active operations span 13 U.S. states, comprised of 14 production facilities with over 1.1 million square feet of cultivation capacity. Learn more at Verano.com.
Media
Verano
Grace Bondy
Director, Communications
Grace.Bondy@verano.com
Steve Mazeika
VP, Communications
Steve.Mazeika@verano.com
Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans, strategies, or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Generally, such forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “future”, “scheduled”, “estimates”, “forecasts”, “projects,” “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. Forward-looking statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking statements herein, including, without limitation, the risk factors described in the Company’s annual report on Form 10-K for the year ended December 31, 2025 filed with the U.S. Securities and Exchange Commission at www.sec.gov. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information or forward-looking statements that are contained or referenced herein, except as may be required in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice regarding forward-looking information and statements.
+++
