Verano Hldgs Stock Price, News & Analysis

Verano Holdings Corp. (CSE: VRNO; OTCQX: VRNOF) will present at two upcoming cannabis conferences. Aaron Miles, Chief Investment Officer, will speak at Grizzle Cannabis Con on November 23, 2021, at 10:20 a.m. CT. Following this, George Archos, Founder and CEO, will participate in the Cowen 4th Annual Cannabis Conference on November 29, 2021, also at 10:20 a.m. CT. Verano is a leading multi-state cannabis operator in the U.S., operating in 12 states with over 1,000,000 square feet of cultivation space.

Verano Holdings Corp. (CSE: VRNO, OTCQX: VRNOF) announced the upcoming removal of trading restrictions on 35% of shares from its reverse takeover (RTO) completed on February 11, 2021. The release is expected within two trading days, allowing all shares from the RTO to trade freely. Originally, these shares were under a 400-day lockup with staggered releases, the next being 15% on December 18, 2021. CEO George Archos noted increasing investor interest and emphasized a commitment to long-term value for shareholders.

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) reported strong financial results for Q3 2021, with revenues of $207 million, a 4% increase sequentially and 106% year-over-year. Gross profit reached $133 million, representing 64% of revenue, while adjusted EBITDA was $111 million or 54% of revenue. The company expanded its operations by opening seven new dispensaries and completing key acquisitions. As of September 30, 2021, Verano had current assets of $629 million, including $57 million in cash. The company's strategic growth positions it well for future market opportunities as the cannabis sector evolves.

Verano Holdings Corp. (VRNOF) has successfully acquired Willow Brook Wellness, LLC, and has definitive agreements in place to acquire Caring Nature, LLC, and Connecticut Pharmaceutical Solutions, Inc. These acquisitions will enhance Verano's vertical integration in Connecticut, bolstering its East Coast operations. Following these transactions, Verano will have 89 active dispensaries across 12 states, significantly expanding its cultivation capacity beyond 1,000,000 sq. ft. The deals are expected to drive immediate accretion and support long-term growth.

Verano Holdings Corp. announced the relocation of its Zen Leaf St. Charles dispensary in Illinois to a prime retail space on Main Street. This dispensary, operational since 2015, is one of the state's original and highest volume dispensaries. The new location will enhance visibility, foot traffic, and customer experience, with daily traffic of nearly 33,000 cars. The Illinois cannabis market continues to grow, with over $1.1 billion in adult-use sales recorded through October 2021. Zen Leaf St. Charles offers a wide range of cannabis products, catering to both medical and adult-use consumers.

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) has appointed Destiny Thompson as Chief People Officer to enhance its human resources and culture during its rapid growth phase. Thompson brings nearly 20 years of HR experience, having previously served as Chief Human Resources Officer at Stout. CEO George Archos expressed confidence that Thompson’s expertise will foster a people-first culture, ultimately benefiting employees, customers, and shareholders.

Verano Holdings Corp. (VRNOF) has opened its 87th dispensary, Zen Leaf Flamingo, in Las Vegas. Located at 5940 West Flamingo Road, the new outlet features a drive-through for convenience. The opening event is scheduled for October 29, 2021. This expansion occurs as Nevada reports record cannabis sales, surpassing $1 billion in 2021, indicating a strong market demand. Zen Leaf Flamingo offers a wide range of cannabis products, including edibles and concentrates, catering to diverse consumer needs.

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) announced an amendment to its credit agreement, securing an additional US$120 million in non-dilutive funding. This brings its total senior secured term loans to US$250 million, with an 8.50% interest rate, down from 9.75%. The new funding allows for greater liquidity and operational flexibility, supporting Verano's growth strategies. An option for an extra US$100 million also exists. The company emphasizes disciplined capital stewardship as integral to its bottom-line performance.

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) will report its financial results for Q3 2021 on November 16, 2021. The announcement was made in a press release dated October 12, 2021. Following the release, a conference call will be held at 8:30 a.m. ET to discuss the results with analysts and investors. Verano operates in 11 U.S. states and focuses on providing premium cannabis products through brands like Verano and MÜV. The company aims to enhance community wellness through responsible cannabis access.