Verano Hldgs Stock Price, News & Analysis

Verano Holdings Corp. (CSE: VRNO) announced the grand opening of its 15th affiliated Pennsylvania dispensary, Zen Leaf New Kensington, on September 9. Located at 215 Tarentum Bridge Road, this dispensary enhances Verano's presence in the greater Pittsburgh area, where it already operates four other locations. The new dispensary aims to serve a growing patient base in the region, with an average of 28,000 vehicles passing by daily. Verano continues to expand its operations across 13 states, managing 117 dispensaries and 14 cultivation facilities.

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) has completed the acquisition of WSCC, Inc., d/b/a Sierra Well, enhancing its presence in Nevada with two dispensaries and a 10,000 sq. ft. cultivation facility. This strategic expansion into Reno and Carson City positions Verano in key tourist areas and increases its operational footprint to five dispensaries and two cultivation sites across the state, now spanning 13 states with 116 dispensaries and over 1 million sq. ft. of cultivation capacity. The acquisitions are expected to bolster retail and distribution opportunities.

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) announced the grand openings of three new MÜV dispensaries in Florida on September 2, 2022, bringing its total to 59 locations in the state. In 2022 alone, Verano opened 15 new MÜV locations, emphasizing its retail expansion. The company operates across 13 states with a network of 114 dispensaries and 13 cultivation facilities, totaling over 1 million square feet of cultivation capacity. Verano aims to enhance the experience for medical cannabis patients through its diverse product offerings and patient support services.

Verano Holdings Corp. (OTCQX: VRNOF) announced participation in key conferences including the Needham Virtual Cannabis Conference on September 7, 2022, where CEO George Archos will be a speaker. Additionally, Chief Investment Officer Aaron Miles will join panels at the Benzinga Cannabis Capital Conference on September 13, 2022, and MJ Unpacked on September 28, 2022. Verano operates in 13 U.S. states, emphasizing community wellness and providing a wide range of cannabis products through brands like Verano™, Avexia™, and MÜV™.

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) announced the appointment of Lawrence Hirsh to its Board of Directors and as Chair of the Audit Committee. Hirsh brings nearly 40 years of experience in corporate leadership, including his previous role at Alvarez & Marsal and partnerships at Arthur Andersen. His expertise in mergers and acquisitions and operational improvements is expected to support Verano's strategic growth. Verano operates in 13 states, focusing on providing regulated cannabis products through brands like Verano™, Avexia™, Encore™, and MÜV™.

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) announced the opening of Zen Leaf Clarksburg, its fourth dispensary in West Virginia, on August 19, 2022. Located at 254 Emily Drive, the dispensary is strategically placed on a high-traffic road with over 17,500 vehicles daily. West Virginia has more than 11,400 approved medical cannabis patients, with sales projected to hit $29 million by 2026. Verano aims to enhance patient care through virtual consultations and patient-centric services, responding to the state's growing medical cannabis community.

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) has filed its Quarterly Report on Form 10-Q for Q2 2022, ending June 30, with the SEC. The company also restated past financial statements to correct stock compensation and tax expenses, resulting in a lower tax obligation without materially affecting total assets or liabilities. The restated financials cover multiple quarters, including Q1 2021 to Q1 2022. The company continues to operate across 13 states with a focus on responsible access to cannabis products.

Verano Holdings announced the opening of its 110th dispensary, MÜV Hollywood, on August 19, 2022. This location marks the third MÜV dispensary in Broward County and 56th in Florida, contributing to Verano's ongoing retail expansion. The dispensary is situated on a high-traffic street, attracting over 16,000 vehicles daily. Verano operates 110 dispensaries across 13 states, with a total cultivation capacity exceeding 1 million square feet, underscoring its growth in the cannabis market.

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) reported its Q2 2022 financial results, showcasing a 12% revenue increase to $224 million compared to Q2 2021. Gross profit rose to $98 million, representing 44% of revenue. Despite a net loss of $(10) million, an improvement from $(30) million last year, unadjusted EBITDA stood at $48 million. Operationally, Verano exceeded 100 dispensaries and celebrated adult-use sales in New Jersey. The company also invested in mobile applications and new product lines, aiming for sustainable growth.