Welcome to our dedicated page for Verano Hldgs news (Ticker: VRNOF), a resource for investors and traders seeking the latest updates and insights on Verano Hldgs stock.
Verano Holdings Corp. (VRNOF) is a vertically integrated cannabis operator with cultivation, production, and retail facilities across regulated U.S. markets. This page aggregates official announcements, financial disclosures, and strategic developments for stakeholders tracking the company’s progress in the evolving cannabis sector.
Investors will find timely updates on quarterly earnings, regulatory compliance milestones, and expansion initiatives like recent entries into new state markets. All content is sourced directly from company filings and verified media partners to ensure accuracy.
The archive includes press releases covering product launches, partnership agreements, and operational updates. Analytical reports detail Verano’s market positioning through retail footprint growth and brand portfolio development.
Bookmark this page for streamlined access to VRNOF’s latest news. Check regularly for updates on legislative changes impacting operations and the company’s responses to industry trends.
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.
Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) has opened its first Zen Leaf dispensary in Chicago's West Loop, enhancing its presence in the rapidly growing Illinois cannabis market. Located in a bustling area, the new flagship store aims to create jobs and boost local retail activity as the economy recovers. With Illinois adult-use cannabis sales setting records, the market is poised to reach between $2-$4 billion at maturity. Verano's expansion reflects confidence in the state's cannabis industry, which saw nearly $115 million in sales in April alone.
Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) announced the release of its first-quarter financial results for 2021, scheduled on May 18, 2021, before market opening. A conference call will follow at 8:30 AM ET to discuss results with analysts and investors. Verano Holdings operates in 11 states with nine production facilities covering approximately 770,000 square feet of cultivation. The company is committed to enhancing wellness through regulated cannabis products under brands like Verano, Avexia, and MÜV.
Verano Holdings is set to open its 32nd MÜV™ Dispensary in Florida on April 24, 2021, located at 400 S. Ponce Blvd., St. Augustine. This site boasts Florida's fourth-largest retail footprint and is the fifth location to feature a drive-through for convenient order pickups. The dispensary will offer a wide range of award-winning cannabis products, including edibles, flowers, and vaporizer pens. With nearly 800 employees in Florida, Verano continues to focus on enhancing patient care and contributing to the local economy.
Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) announced a significant expansion in Pennsylvania by acquiring Agri-Kind, LLC and Agronomed Biologics, LLC. These acquisitions will bolster its cultivation capacity with a 62,000 sq. ft. facility and allow for the development of six additional dispensaries. The total cash and stock consideration for Agri-Kind stands at US$66 million, while Agronomed will be acquired for US$60 million. This move is aligned with Verano's strategy to enhance its market leadership in the U.S. cannabis sector.
Verano Holdings Corp. (CSE:VRNO) announced the opening of Zen Leaf Neptune, its second dispensary in New Jersey, following the state's adult-use cannabis legalization. Located in Neptune Township, this store enhances Verano's presence in a key market. The company plans to open a third dispensary by Q2 2021 and is expanding its 120,000 sq. ft. cultivation facility in Readington, NJ. CEO George Archos emphasized the growth potential from New Jersey's adult-use market, aligning with the company's established vertical integration for efficient operations.
Verano Holdings Corp. (OTCQX: VRNOF) announced its upgrade to the OTCQX Best Market, enhancing its visibility and liquidity in the cannabis sector. The OTCQX market, known for investor-focused companies, requires adherence to high financial standards and corporate governance. CEO George Archos emphasized this milestone as a means to maximize long-term shareholder value while expanding operations across 14 U.S. states. Verano's portfolio includes 11 operational states with nine production facilities covering 770,000 square feet of cultivation.
