Verano Hldgs Stock Price, News & Analysis

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) has announced an upsize of its credit facility, adding US$100 million at an 8.50% interest rate, raising the total to US$350 million. This non-dilutive capital aims to strengthen Verano’s cash position and operational flexibility, facilitating both near- and long-term growth strategies. CEO George Archos emphasized the importance of sound financial principles and plans to deploy capital for business investments that enhance shareholder value. The transaction awaits customary conditions and approvals.

Verano Holdings Corp. (VRNOF) has entered into an agreement to acquire Goodness Growth Holdings for approximately US$413 million in an all-share transaction. This acquisition aims to enhance Verano's market position by adding operations in New York, Minnesota, and New Mexico, increasing its footprint to 18 states with 15 in operation. The deal secures one of ten vertically integrated licenses in New York, alongside significant dispensary expansions. The expected revenue from these new markets between 2022 and 2026 is over $13.8 billion, reflecting strong growth potential.

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) announced its executive team's participation in upcoming conferences. Key presentations include:

• ICR Conference: Aaron Miles, Chief Investment Officer, on January 10, 2022, at 12:00 p.m. CT.
• ATB 10th Annual Institutional Investor Conference: George Archos, CEO, on January 13, 2022, at 11:20 a.m. CT.
• 24th Annual Needham Growth Conference: George Archos, CEO, on January 14, 2022, at 10:30 a.m. CT.

Verano Holdings Corp. (OTCQX: VRNOF) has appointed Brett Summerer as the new Chief Financial Officer, succeeding Brian Ward, who will assist during the transition. Summerer brings over 21 years of financial leadership experience from various sectors, including CPG and automotive industries. His notable roles include CFO at The Kraft Heinz Company and positions at General Motors and Corning Incorporated. Verano aims to leverage Summerer's expertise to enhance growth while maintaining robust financial management, with regulatory approval anticipated for his role.

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) announced the completion of its acquisition of Caring Nature, LLC and Connecticut Pharmaceutical Solutions, Inc. This deal enhances Verano's vertical integration in Connecticut, a rapidly growing market for adult-use cannabis. Caring Nature operates a dispensary in Waterbury, while Connecticut Pharmaceutical Solutions boasts a 216,532 sq. ft. cultivation facility in Rocky Hill. With these acquisitions, Verano now operates in 12 states, with a total of 93 dispensaries and over 1 million sq. ft. of cultivation capacity nationwide.

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) has announced the opening of a new MÜV dispensary in Stuart, Florida, on December 18, 2021. This opening expands Verano’s national retail footprint to 93 dispensaries. MÜV Stuart is strategically located on a high-traffic road, attracting significant vehicle and event foot traffic. The company aims to serve patients in the growing 'Treasure Coast' area with a range of premium cannabis products and customer-friendly services such as online ordering and consultations.

Verano Holdings Corp. (CSE: VRNO, OTCQX: VRNOF) announced the opening of its 11th MÜV dispensary in Florida, located at 68 Blanding Boulevard, Orange Park, on December 10, 2021. This expansion increases Verano's footprint to 40 dispensaries in Florida and 92 nationwide. The new location targets a rapidly growing population in Clay and Duval Counties, which saw increases of 14% and 15% from 2010 to 2020. Positioned in a high-traffic area, the dispensary enhances patient accessibility to high-quality medical cannabis products.

Verano Holdings Corp. (OTCQX: VRNOF) has announced a historic donation of $150,000 to the Lynn Sage Breast Cancer Foundation, marking the largest contribution from a cannabis company to the foundation. This donation was facilitated through a multi-state dispensary-led campaign during Breast Cancer Awareness Month, engaging over 7,000 participants. The initiative reflects Verano's commitment to supporting vital health causes. The check presentation took place on December 6, 2021, at the company's Chicago headquarters.

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) announced the opening of its 13th affiliated Pennsylvania dispensary, Zen Leaf West Chester, on December 3, 2021. Located in a high-traffic area, the dispensary aims to serve Chester County's medical cannabis community of nearly 26,000 patients, contributing to Pennsylvania's growth of over 630,000 medical cannabis patients. Zen Leaf West Chester will offer a range of cannabis therapeutics and provide drive-through service for added convenience. This expansion aligns with Verano's commitment to meeting the increasing demand in the state's medical cannabis program.