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Verano Holdings Corp (VRNOF) is a leading cannabis operator in the United States, with a focus on producing high-quality products and building strong customer relationships. The company's core business includes cultivation, production, and distribution of a wide range of cannabis products, including flower, edibles, and concentrates. Verano has been expanding its footprint through strategic partnerships and acquisitions, positioning itself as a key player in the rapidly growing cannabis industry.
Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) has announced the opening of MÜV Port Charlotte, its 53rd Florida dispensary and 107th nationwide, effective July 29, 2022. This dispensary, located on a busy traffic route, will enhance patient access to premium cannabis products. Verano's operations extend across 13 states, boasting 107 dispensaries and 13 cultivation facilities with over 1 million square feet of cultivation capacity. The Port Charlotte area is experiencing significant population growth, indicating strong market potential for Verano's expansion efforts.
Verano Holdings Corp. (OTCQX: VRNOF) announced the need to restate previous financial statements due to accounting errors revealed during internal reviews of compensation and taxes. Key reports affected include those for Q1-Q3 2021 and Q1 2022, which were filed on SEDAR. The Audit Committee found that stock-based compensation was understated and tax expenses were overstated. Adjustments will be made accordingly, and amended reports will soon be submitted to SEDAR and the SEC.
Verano Holdings Corp. (CSE: VRNO, OTCQX: VRNOF) will release its second quarter financial results for the period ending June 30, 2022, on August 16, 2022. The announcement is set to occur before market opening. Following the release, a conference call and audio webcast will be held at 8:30 a.m. ET, allowing analysts and investors to discuss the results and ask questions. Verano is a significant multi-state cannabis operator in the U.S., focusing on wellness through regulated cannabis products and encompassing operations in 14 states.
Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) has announced the opening of MÜV Sebring, its 52nd Florida dispensary and 106th nationwide, on July 16, 2022. Located at 3900 US-27 North, the dispensary benefits from high traffic, averaging 40,000 vehicles daily. Florida's medical cannabis sales are projected to reach $2.5 billion by 2026, with over 736,000 patients currently registered. Verano operates 106 dispensaries and 13 cultivation facilities across 13 states, maintaining over 1 million square feet in cultivation capacity, emphasizing its commitment to quality and accessibility for medical marijuana patients.
Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) has announced the opening of Zen Leaf Wheeling, the first medical cannabis dispensary in Wheeling, West Virginia, on July 15, 2022. This location marks Verano's 105th dispensary nationwide and its third in West Virginia, complementing existing locations in Westover and Morgantown. The dispensary will offer a range of cannabis products and is strategically located in a high-traffic area. West Virginia's medical cannabis market is projected to reach $49 million by 2026, indicating strong growth potential for Verano.
Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) announced the opening of its 50th and 51st Florida dispensaries, MÜV Fort Myers Cypress and MÜV Sarasota Main, on July 9, 2022. These new locations expand Verano's reach in a rapidly growing market, with Florida's medical cannabis sales projected to reach $2.5 billion by 2026, supported by over 734,000 qualified patients. Verano operates 103 dispensaries and 13 cultivation facilities across 13 states, underscoring its significant presence in the cannabis industry.
Verano Holdings Corp. (CSE: VRNO) has opened its 49th Florida dispensary, MÜV Tamarac, on July 1, 2022. Located at 6510 University Drive, it serves a bustling area with an average of 53,000 vehicles daily. The dispensary aims to enhance access to medical cannabis for over 732,000 registered patients in Florida, where sales are projected to hit $2.5 billion by 2026. Verano operates 102 dispensaries across 13 states, with a cultivation capacity exceeding 1 million square feet.
Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) has announced the opening of its 48th Florida dispensary, MÜV Winter Haven, on June 29, 2022. The new location, situated at 6900 Cypress Garden Boulevard, benefits from an average daily traffic of 28,000 vehicles and serves a rapidly growing Polk County population of 753,520. Verano operates 101 dispensaries across 13 states with over 1 million square feet of cultivation capacity. MÜV Winter Haven offers online browsing, ordering options, and a wide range of cannabis products.
Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) confirmed the filing of its reviewed first quarter 2022 financial statements on June 17, 2022, which amend previously filed statements. Key highlights include a Free Cash Flow of -$13.8 million due to $48.3 million in capital expenditures and Adjusted EBITDA of $80.8 million. The company's cash position remains unchanged at $140 million. Verano emphasizes the use of non-GAAP measures for performance evaluation, which are not standardized and may differ from similar metrics of other companies.
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