Verano Announces the Opening of MÜV Palatka, the Company’s 55th Florida Location

Rhea-AI Summary

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) announces the grand opening of its 55th Florida dispensary, MÜV Palatka, on August 12. This new location is strategically positioned near a busy intersection with 9,400 vehicles daily, catering to over 10,500 residents in Palatka. Verano operates 109 dispensaries across 13 states, supported by more than 1 million square feet of cultivation capacity. MÜV Palatka aims to enhance patient access to premium cannabis products, featuring online menus and virtual consultations for convenience.

Positive

• Expansion of retail presence with the opening of MÜV Palatka as the eighth Florida dispensary since June.
• Strategically located near a busy commercial area, potentially increasing foot traffic and sales.
• Enhancing patient access to cannabis products with innovative services like online ordering and virtual consultations.

Negative

• None.

• MÜV Palatka is the eighth MÜV dispensary to open in Florida since late June, underscoring the Company's ongoing retail expansion across the state
• The dispensary is located at 850 S Moody Rd near Route 19, a busy commercial intersection that sees an average daily traffic count of 9,400 vehicles¹
• Verano’s active operations span 13 states, comprised of 109 dispensaries and 13 cultivation and processing facilities with more than 1 million square feet of cultivation capacity
  

CHICAGO, Aug. 11, 2022 (GLOBE NEWSWIRE) -- Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) (“Verano” or the “Company”), a leading multi-state cannabis company, today announced the grand opening of MÜV Palatka scheduled for Friday, August 12. The Company’s 55^th Florida dispensary and 109^th nationwide, MÜV Palatka, located at 850 S Moody Rd, Suite 151, will be open Monday through Saturday from 9 a.m. to 7 p.m. and Sunday from 11 a.m. to 5 p.m., local time.

MÜV Palatka is the first MÜV retail location to open in this Northeast Florida city of more than 10,500 residents². Palatka is also home to one of Verano’s two Florida cultivation and processing facilities, positioning the Company for growth in anticipation of future demand.

“MÜV Palatka adds another convenient location for Northeast Florida patients to access our suite of premium cannabis products while experiencing our patient-centric hospitality,” said John Tipton, President of Verano. “We are excited to continue growing our presence in the Palatka area and look forward to welcoming patients at MÜV Palatka for years to come.”

As a demonstration of Verano’s commitment to provide a convenient and reliable experience for Florida patients, MÜV dispensaries feature online menus for effortless browsing of their extensive, award-winning product selection, including the Company’s signature Verano Reserve flower line. The Company also offers one-on-one virtual and in-store consultations at no cost to the patient, and provides patient-centric concierge services via phone (833-880-5420), email, web chat and text to address patient questions and inquiries. For additional convenience and accessibility, patients can choose to order ahead at muvfl.com or through the MÜV mobile application available in the Google Play and Apple App stores for express in-store pickup.

MÜV’s comprehensive product selection includes edibles, chocolates and lozenges, flower, pre-rolls, an array of vaporizer pens, concentrates, metered-dose inhalers, topicals and oral sprays; along with patented encapsulation formulations in its EnCaps^™ capsules, tinctures, 72-hour transdermal patches and transdermal gels.

For more information about MÜV Palatka, visit muvfl.com.

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 13, including 13 production facilities comprising over 1,000,000 square feet of cultivation capacity. 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.

Contacts:

Media
Verano
Grace Bondy
Manager, Communications
Grace.Bondy@verano.com

Investors
Verano
Julianna Paterra, CFA
Director, Investor Relations
Julianna.Paterra@verano.com

Forward Looking Statements

This press release contains certain “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 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 statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “future”, “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”. Forward-looking 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 statements herein, including, without limitation, the risk factors described in the Company’s Form 10 filed with the U.S. Securities and Exchange Commission at www.sec.gov. The 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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¹ Source: FL Dept of Transportation
² Source: U.S. Census

FAQ

What is the significance of the MÜV Palatka dispensary opening for Verano (VRNOF)?

The MÜV Palatka dispensary marks Verano's 55th location in Florida, indicating continued retail expansion and increased market reach.

How does MÜV Palatka contribute to Verano's operations in Florida?

MÜV Palatka enhances patient access to cannabis, being strategically located in a busy area and serving a community of over 10,500 residents.

When did Verano announce the opening of MÜV Palatka?

Verano announced the MÜV Palatka opening on August 11, 2022, with the grand opening scheduled for August 12.

How many dispensaries does Verano operate nationwide?

Verano operates a total of 109 dispensaries across 13 states, with ongoing plans for expansion.

What products are offered at MÜV Palatka?

MÜV Palatka provides a comprehensive range of cannabis products, including edibles, flower, concentrates, and more.