Verano Founder and Chief Executive Officer George Archos Shares Celebratory Comments on Cannabis Rescheduling Announcement

Rhea-AI Summary

Verano (Cboe CA: VRNO / OTCQX: VRNO) celebrated the Dec. 18, 2025 Executive Order directing DOJ to reschedule cannabis from Schedule I to Schedule III, calling it a historic policy shift. Verano highlighted potential benefits including banking, tax, medical research reforms and the opportunity to list on a U.S. exchange. The company said its operations span 13 states, with 158 dispensaries under Zen Leaf and MÜV and 15 cultivation/processing facilities totaling more than 1.1 million sq ft of capacity.

CEO George Archos described rescheduling as enabling patient access, jobs, and economic growth while noting forward-looking risks remain.

Positive

• Potential ability to list on a U.S. exchange
• Possible access to federal banking reforms
• Potential tax and medical research reforms
• 158 dispensaries across 13 states indicating scale

Negative

• Timing and scope of federal reforms remain uncertain
• Forward-looking statements carry execution and regulatory risks

Verano’s active operations span 13 states, comprised of 158 dispensaries operating under the Zen Leaf^™ and MÜV^™ retail banners, and 15 cultivation and processing facilities with more than 1.1 million square feet of cultivation capacity

CHICAGO, Dec. 18, 2025 (GLOBE NEWSWIRE) -- Verano Holdings Corp. (Cboe CA: VRNO) (OTCQX: VRNO) (“Verano” or the “Company”), a leading multi-state cannabis company, celebrates today’s historic announcement that President Donald Trump has issued an Executive Order directing the Department of Justice to reschedule cannabis from Schedule I to Schedule III in the Controlled Substances Act, paving the way for potential reforms in the areas of medical research, banking, taxes, and the opportunity for Verano to list its shares on a U.S.-based stock exchange.

Quote from Verano Founder and Chief Executive Officer George Archos:

“Today's historic cannabis rescheduling announcement marks a significant milestone and transformative policy shift that paves the way for America’s next great homegrown industry to finally reach its full potential by serving patients, creating jobs, unlocking economic growth, and reversing decades of harmful prohibitionist policies.  
  
We’re grateful to President Trump for recognizing the overwhelming majority of Americans who support cannabis rescheduling, opening the door to federal reform, medical research, and normalization for an industry that employs hundreds of thousands of professionals and contributes billions of dollars in taxes and economic activity every year. 
  
We look forward to the new opportunities rescheduling will provide cannabis businesses of all sizes, including critical banking and regulatory reforms that will unlock additional health, wellness, and economic benefits for communities nationwide.”  

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, including Cabbage Club^™, an innovative annual membership program offering exclusive benefits for cannabis consumers. Verano produces a comprehensive suite of high-quality, regulated cannabis products sold under its diverse portfolio of trusted consumer brands including Verano^™, (the) Essence^™, MÜV^™, Savvy^™, BITS^™, Encore^™, and Avexia^™. Verano’s active operations span 13 U.S. states, comprised of 15 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, 2024 and any subsequent quarterly reports on Form 10-Q, in each case, 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.

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FAQ

What did Verano announce about the Dec. 18, 2025 cannabis rescheduling and stock symbol VRNO?

Verano celebrated an Executive Order directing DOJ to reschedule cannabis to Schedule III and said this could enable listing on a U.S. exchange for VRNO.

How many dispensaries and states does Verano (VRNO) operate as of Dec. 18, 2025?

Verano operates 158 dispensaries across 13 states under Zen Leaf and MÜV banners.

What operational capacity does Verano (VRNO) report after the rescheduling announcement?

The company reports 15 cultivation and processing facilities with more than 1.1 million sq ft of cultivation capacity.

What investor opportunities did Verano cite from cannabis rescheduling for VRNO shareholders?

Verano cited potential benefits including banking access, tax reform, expanded medical research, and the chance to list on a U.S. exchange.

Does Verano guarantee immediate regulatory or financial changes after rescheduling?

No; the company’s release includes forward-looking statements and notes that timing, scope, and outcomes of reforms are uncertain.

Who is the Verano contact for media or investor interview requests about VRNO?

Media interview requests were directed to Steve Mazeika (Steve.Mazeika@verano.com) and Grace Bondy (Grace.Bondy@verano.com).