Verano Hldgs Stock Price, News & Analysis

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF), a leading multi-state cannabis operator, announced participation in key investment conferences. Aaron Miles, Chief Investment Officer, will present at the ICR Conference on January 9, 2023, at 4:00 p.m. ET. Additionally, George Archos, CEO, will join a virtual chat at Needham’s Annual Growth Conference on January 12, 2023, at 10:15 a.m. ET, followed by another virtual panel featuring Aaron Miles on the same day at 1:30 p.m. ET. Verano operates 14 production facilities across 13 U.S. states, focused on delivering premium cannabis products.

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) is set to open its 62nd Florida dispensary, MÜV Lake City, on December 23. Located at 2938 W US Highway 90, the new dispensary is part of the company's ongoing retail expansion, bringing its total to 120 nationwide. Florida currently has over 776,000 qualified medical cannabis patients, with sales projected to reach $2.5 billion by 2026. MÜV Lake City will offer a wide range of cannabis products and patient-centric services, reinforcing Verano's commitment to accessibility for patients.

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) announced executive participation in upcoming conferences: Wolfe Consumer Growth Conference on December 5, Cowen’s 5th Annual Cannabis Conference on December 6, and Stifel Canada’s 3rd Annual Future of Healthcare Conference on December 7. CEO George Archos and CIO Aaron Miles will feature in discussions, highlighting Verano's commitment to cannabis wellness. The company operates in 14 states with over 1 million square feet of cultivation capacity, offering a range of trusted cannabis brands.

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) reported a strong Q3 2022, with revenue reaching $228 million, a 10% increase year-over-year driven by adult use sales in New Jersey. Gross profit improved to 54% of revenue, up from 48% the previous year. However, net loss widened to $(43) million. Adjusted EBITDA was $82 million, or 36% of revenue. Operationally, Verano expanded with new dispensaries in Florida and launched new products. The refinancing of a $350 million credit facility provides financial flexibility.

Verano Holdings Corp. (OTCQX: VRNOF) has launched BITS™, a new range of low-dose cannabis edibles designed to enhance everyday experiences. Each edible contains 5 mg of THC, along with other cannabinoids and adaptogens, and is available in five flavors. Starting November 4, BITS™ will be sold at Zen Leaf dispensaries and select retail locations in key U.S. markets including Illinois, Maryland, and Massachusetts, with plans for expansion in Arizona and Florida. CEO George Archos emphasized that BITS™ will broaden the company's consumer appeal and enhance its product portfolio.

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF), a major multi-state cannabis operator, will release its financial results for Q3 2022 on November 14, 2022, prior to market opening. A conference call will occur the same day at 8:30 a.m. ET for analysts and investors to discuss these results.

Verano is committed to promoting wellness through responsible access to cannabis products, operating across 14 U.S. states with over 1 million square feet of cultivation capacity.

Verano Holdings Corp. has successfully refinanced its existing $350 million credit facility, extending the maturity to October 30, 2026. The new agreement features a floating interest rate currently set at 12.75%. This refinancing opens doors for up to $270 million in additional financing, including $120 million in real estate-secured debt. The company aims for a blended interest rate of 10.5% by pursuing lower-cost secured debt. Prepayment options allow for $100 million repayment with a minimal fee, offering flexibility in managing overall capital costs.

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) has announced the termination of its arrangement agreement with Goodness Growth Holdings Inc. (GGH) due to breaches of covenants by GGH. The termination notice was delivered on October 13, 2022, leading to Verano claiming a termination fee of $14.875 million from GGH, along with up to $3 million in reimbursement for transaction expenses. Verano's CEO, George Archos, stated that the decision was made in the best interest of the company and shareholders, and further details will be shared during the next earnings call.

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) announced the opening of two new MÜV dispensaries in Florida on October 7, expanding its retail presence after opening 20 new locations in 2022. To support employees impacted by Hurricane Ian, the Company will assist affected staff and donate to a Florida Relief Fund. Verano operates 119 dispensaries and 14 cultivation facilities across 13 states, with over 1 million square feet of cultivation capacity, committed to providing accessible cannabis products and essential patient services.