Verano Hldgs Stock Price, News & Analysis

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) announced that Chief Investment Officer Aaron Miles will present at VirtualInvestorConferences.com on June 29, 2021, at 10:00 AM ET. This event offers a platform for individual and institutional investors to interact with the company. An archived webcast will be available for those unable to attend live. Verano is a leading multi-state cannabis operator in the U.S., with operations in 11 states, producing premium cannabis products under brands like Verano and Zen Leaf.

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) announced DTC eligibility for its subordinate voting shares, enhancing liquidity and shareholder access in U.S. capital markets. This move allows for electronic clearing and settlement, facilitating faster trades for current shareholders and attracting new investors. CEO George Archos emphasized that DTC eligibility is crucial for expanding Verano's presence in the market. The company operates across 14 U.S. states, with significant cultivation and retail operations aimed at improving communal wellness through regulated cannabis products.

Verano Holdings Corp. has opened its third Zen Leaf dispensary in New Jersey, located on Route 1 in Lawrence Township. This marks the 78th retail location for the company and is strategically positioned near high traffic areas, including Quakerbridge Mall. The municipality has recently approved adult-use cannabis, allowing for recreational sales to commence when the program launches. Zen Leaf Lawrence offers a variety of cannabis products and aims to meet the growing demand in New Jersey's evolving cannabis market.

Verano Holdings Corp. (OTCQX: VRNOF) announces the opening of its 34^th MÜV^™ Dispensary in Orlando, Florida, located at 8103 Vineland Ave., on June 4, 2021. The new dispensary is strategically positioned near popular theme parks, maximizing accessibility for the 65 million annual visitors to the region. This facility will offer a wide range of cannabis products including edibles, topicals, and concentrates. Verano aims to enhance patient care with its extensive product offerings and expects strong traffic from both tourists and local medical cannabis patients.

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) has announced the opening of its 33rd MÜV Dispensary in Spring Hill, Florida, scheduled for May 28, 2021. Located in a fast-growing area near Tampa, the dispensary will provide easy access and ample parking. Verano aims to serve the local community with a wide array of cannabis products, including edibles, concentrates, and more. This new location is set to enhance Verano's presence in Florida and create job opportunities, contributing to local economic growth.

Verano Holdings Corp. (OTCQX: VRNOF) has successfully completed three strategic acquisitions, enhancing its presence in Pennsylvania's cannabis market. The deals involve acquiring TerraVida Holistic Centers and two other firms, which include a total of six medical marijuana dispensaries. This expansion aims to strengthen Verano's operational footprint, increase revenue potential, and broaden its product availability across a key state in the U.S. cannabis sector.

Verano Holdings Corp. (CSE:VRNO) (OTCQX: VRNOF) reported a robust first quarter 2021, with revenues of $143 million, marking a 117% year-over-year growth. Gross profit margin stood at over 62%, while net income reached $126 million, influenced by biological assets. The company also posted an adjusted EBITDA of $75 million, representing a 52% margin. Verano expanded its retail footprint with acquisitions in Arizona and Pennsylvania and was upgraded to the OTCQX Best Market, enhancing liquidity and visibility for investors.

Verano Holdings Corp. (CSE:VRNO) (OTCQX:VRNOF) has filed a preliminary short form base shelf prospectus in Canada, allowing for securities offerings totaling up to C$1,254,450,000 over 25 months. This move aims to enhance the company's financial flexibility and support its growth strategy, according to CEO George Archos. The filing will enable Verano to issue various securities, including Class A subordinate voting shares and warrants. The company plans to file a shelf prospectus supplement related to special warrants that had previously raised approximately C$100,035,000.

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) announced an Amended and Restated Credit Agreement for a senior secured term loan of US$130 million with an additional US$100 million available. The agreement features a competitive annual interest rate of 9.75% and is non-dilutive, enhancing the Company's liquidity and operational flexibility. This funding supports Verano's strategic growth initiatives, including recent M&A activities, as noted by CEO George Archos. The agreement's favorable terms reflect Verano's strong operating performance and the evolving acceptance of the cannabis industry.