Verano Hldgs - VRNOF STOCK NEWS

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.

Verano Holdings Corp. (OTCQX: VRNOF) has launched its second annual fundraising campaign for the Lynn Sage Breast Cancer Foundation, coinciding with Breast Cancer Awareness Month in October. The initiative spans six states, including Connecticut and Illinois, allowing customers to earn rewards while supporting breast cancer research. The 2021 campaign saw participation from 7,000 visitors. Verano emphasizes its commitment to community wellness and aims to advance education and research in breast cancer prevention.

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™.