Verano Affiliate Announces Opening of Flagship Pittsburgh Dispensary with Western Pennsylvania’s First Drive-Through

Rhea-AI Summary

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) announced the opening of The Healing Research Center in Pittsburgh, marking its 80th active dispensary. This location features a unique four-lane drive-through, enhancing patient convenience. Situated at a high-traffic area, the dispensary will collaborate with Drexel University for ongoing medical cannabis research. Verano plans to expand by opening seven more dispensaries by year-end 2021, including two in Pennsylvania. Regular business hours will be Monday to Friday 10:00 a.m. - 8:00 p.m., Saturday 10:00 a.m. - 6:00 p.m., and Sunday 10:00 a.m. - 4:00 p.m.

Positive

• Opening of The Healing Research Center expands Verano's footprint as its 80th active dispensary.
• Unique four-lane drive-through setup enhances patient convenience.
• Collaboration with Drexel University for medical cannabis research strengthens brand credibility.
• Strategic location near major highways attracts significant daily traffic.

Negative

• None.

• Located at The Mall at Robinson, a high-traffic retail and hospitality destination, the free-standing dispensary is set near the intersection of I-376 and Lincoln Highway. It is also the first dispensary in Western Pennsylvania with a four-lane drive-through, offering a uniquely convenient patient experience.
• This is the 80^th active dispensary nationwide for the Company and its affiliates. Verano anticipates opening as many as seven total dispensaries across its active, 11-state footprint, including new locations in Florida and Nevada, by the end of 2021, with an additional two Pennsylvania storefronts through affiliate Agronomed Biologics.
• This is the second of six permitted clinical registrant dispensary locations opened by Verano affiliate Agronomed Biologics in Pennsylvania, and the Company’s 12^th affiliated, active dispensary overall in the state.
  

CHICAGO, July 30, 2021 (GLOBE NEWSWIRE) -- Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) (“Verano” or the “Company”), a leading multi-state cannabis company, today announced the opening of a new affiliate storefront, The Healing Research Center in Pittsburgh. As part of the state’s Chapter 20 Clinical Registrant Program, the dispensary will, in collaboration with the Drexel University Medical Cannabis Research Center, conduct ongoing research on medical cannabis and its effects on various conditions covered by the program in Pennsylvania. The Healing Research Center in Pittsburgh is Western Pennsylvania’s first medical cannabis dispensary to feature a drive-through platform for its patients and is located near Interstate exits from both I-79 and I-376 at Robinson Centre Drive, which typically see combined traffic of approximately 200,000 cars per day, according to the Pennsylvania Department of Transportation.

“With this flagship dispensary and the unique partnership with Drexel, we have the opportunity to help enhance the medical cannabis program in Pennsylvania, a core market for Verano and one of the largest in the country,” said George Archos, Verano Founder and CEO. “Research supports our vision of driving continuous improvement in patient care and experience. This initiative brings together some of the brightest talent in our industry with one of the finest medical institutions in Pennsylvania, working collectively to optimize the medical cannabis landscape for generations of patients to come.”

Verano affiliate Agronomed Biologics is permitted to open a medical cannabis cultivation and production facility as well as six dispensaries in Pennsylvania through its Clinical Registrant permit. The Healing Research Center is located at 6300 Robinson Centre Drive in Pittsburgh. The dispensary is set to open on Friday, July 30^th at 10:00 a.m. local time. Regular business hours will be Monday through Friday 10:00 a.m. to 8:00 p.m., Saturday 10:00 a.m. to 6:00 p.m., and Sunday 10:00 a.m. to 4:00 p.m.

About Verano

Verano is a leading, vertically-integrated, multi-state cannabis operator in the U.S., devoted to the ongoing improvement of communal wellness by providing responsible access to regulated cannabis products. With a mission to address vital health and wellness needs, Verano produces a comprehensive suite of premium, innovative cannabis products sold under its trusted portfolio of consumer brands, including Verano^™, Avexia^™, Encore^™, and MÜV^™. Verano’s portfolio encompasses 14 U.S. states, with active operations in 11, including 10 production facilities comprising approximately 832,000 square feet of cultivation (including a 26,000 sq. ft. facility in Massachusetts nearing completion of construction). Verano designs, builds, and operates dispensaries under retail brands including Zen Leaf^™ and MÜV^™, delivering a superior cannabis shopping experience in both medical and adult-use markets. Learn more at www.verano.com.

Forward Looking Statements

This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein include, but are not limited to statements or information with respect to the Company’s position in the marketplace, the proposed completion or buildout of Company facilities, the Company’s cultivation capacity, the fortification of the Company’s presence in core markets, the possibility of material organic expansion, delivery of shareholder value and the ability to maintain industry-leading margins and add depth to leadership.

Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein, including, without limitation, the risk factors discussed in the Company's filings on SEDAR at www.sedar.com.

The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information or forward-looking statements that are contained or referenced herein, except as may be required in accordance with applicable securities laws. All subsequent written and oral forward- looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice regarding forward-looking information and statements.

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Contacts:

Investors
Verano
Aaron Miles
Chief Investment Officer
aaron@verano.holdings

Media
Verano
David Spreckman
Vice President, Marketing & Communications
david@verano.holdings
312-819-4852

Sard Verbinnen & Co.
Gabriella Coffey / Ryan McDougald
Verano-SVC@sardverb.com

FAQ

What is the significance of the new dispensary opened by Verano on July 30, 2021?

The Healing Research Center in Pittsburgh is Verano's 80th active dispensary and features a unique four-lane drive-through, aimed at enhancing patient convenience.

How many dispensaries does Verano plan to open by the end of 2021?

Verano anticipates opening as many as seven total dispensaries across its 11-state footprint by the end of 2021, including new locations in Florida and Nevada.

What type of research will Verano conduct at the Healing Research Center?

The Healing Research Center will collaborate with Drexel University Medical Cannabis Research Center to conduct ongoing research on medical cannabis and its effects.

Where is the Healing Research Center located?

The Healing Research Center is located at 6300 Robinson Centre Drive in Pittsburgh, Pennsylvania.

What are the business hours for the Healing Research Center?

The regular business hours are Monday to Friday from 10:00 a.m. to 8:00 p.m., Saturday 10:00 a.m. to 6:00 p.m., and Sunday 10:00 a.m. to 4:00 p.m.