Verano Announces the Opening of MÜV West Palm Beach Okeechobee, the Company’s 65th Florida Location and 124th Retail Location Nationwide

Rhea-AI Summary

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) has opened its 65th Florida dispensary, MÜV West Palm Beach Okeechobee, on February 24, 2023. Located at a high-traffic area on Okeechobee Boulevard, this addition marks a total of 124 retail outlets across the U.S. Florida currently has over 789,000 qualified medical cannabis patients, with sales expected to hit $2.5 billion by 2026. The dispensary offers a wide array of products, including signature brands like Verano Reserve and MÜV. Verano emphasizes patient-centric services, including online ordering and virtual consultations, enhancing accessibility for cannabis patients in the state.

Positive

• Opened 65th Florida dispensary and 124th nationwide.
• Located on a busy thoroughfare with an average daily traffic of 48,000 vehicles.
• Florida medical cannabis market projected to reach $2.5 billion by 2026.
• Comprehensive product offerings and patient-centric services enhance customer experience.

Negative

• None.

• MÜV West Palm Beach Okeechobee is located at 2550 Okeechobee Boulevard, a busy thoroughfare with an average daily traffic count of 48,000 vehicles¹
• The dispensary is based in Palm Beach County, the third largest county in Florida with a population of 1.4 million²
• Verano’s active operations span 13 states, comprised of 124 dispensaries and 14 cultivation and processing facilities with more than 1 million square feet of cultivation capacity
  
  

CHICAGO, Feb. 24, 2023 (GLOBE NEWSWIRE) -- Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) (“Verano” or the “Company”), a leading multi-state cannabis company, today announced the opening of MÜV West Palm Beach Okeechobee on Friday, February 24; this is the Company’s 65^th Florida dispensary and 124^th retail outlet nationwide. MÜV West Palm Beach Okeechobee, located at 2550 Okeechobee Boulevard, is open Monday through Saturday from 9 a.m. to 7 p.m. and Sunday from 11 a.m. to 5 p.m., local time.

According to Florida’s Office of Medical Marijuana Use, there are currently over 789,000 qualified medical cannabis patients in the state. Florida medical cannabis sales are projected to potentially reach $2.5 billion by 2026, as reported by MJBiz Factbook 2022.

“Opening our second MÜV dispensary in West Palm Beach adds another convenient location for Florida medical cannabis patients to receive care from our dedicated team of cannabis advisors and access our premium suite of medical cannabis offerings,” said John Tipton, President of Verano. “MÜV has been an active part of the bustling West Palm Beach community since 2020, and we’re excited to welcome additional members of the local medical cannabis community to experience our patient-centric hospitality and expansive portfolio of products.”

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, MÜV and Sweet Supply flower, Encore edibles, and Savvy flower and extracts. The Company also offers one-on-one virtual and in-store consultations at no cost to patients and provides patient-centric concierge services via phone, 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 West Palm Beach Okeechobee medical cannabis dispensary, 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 high-quality, innovative cannabis products sold under its trusted portfolio of consumer brands, including Verano^™, Avexia^™, BITS^™, Encore^™, MÜV^™ and Savvy^™. Verano’s portfolio encompasses 14 U.S. states, with active operations in 13, including 14 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
Senior Manager, Communications
Grace.Bondy@verano.com

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

Forward Looking Statements

This press release may contain “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”, “projects” “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 registration statement on Form 10, as amended, and quarterly reports on Form 10-Q 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 Florida Department of Transportation

²  United States Census Bureau

FAQ

What is the significance of the new MÜV West Palm Beach Okeechobee dispensary for Verano (VRNOF)?

The new dispensary represents Verano's growth, marking its 65th location in Florida and 124th nationwide, expanding access for medical cannabis patients.

Where is the MÜV West Palm Beach Okeechobee dispensary located?

It is located at 2550 Okeechobee Boulevard, a high-traffic area with an average of 48,000 vehicles daily.

How many qualified medical cannabis patients are there in Florida?

Florida has over 789,000 qualified medical cannabis patients.

What are the expected sales for Florida's medical cannabis market by 2026?

Sales are projected to reach $2.5 billion by 2026.

What type of products does MÜV dispensary offer?

MÜV offers a wide range of products including flower, edibles, concentrates, and patented formulations.