Verano Announces the Opening of Zen Leaf Westover, the Company’s Second West Virginia Dispensary and 99th Location Nationwide

Rhea-AI Summary

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) has opened its second dispensary in West Virginia, Zen Leaf Westover, located at 871 Fairmont Road. The new location is strategically placed on a high-traffic highway, potentially reaching up to 49,000 vehicles daily. Verano operates 99 dispensaries across 13 states and has announced plans for more openings in West Virginia, with sales projected to reach $49 million by 2026. The dispensary offers a range of cannabis therapeutics and aims to serve the growing medical cannabis community.

Positive

• Zen Leaf Westover expands Verano's footprint, increasing its dispensary count to 99 nationwide.
• Strategically located on a high-traffic route, enhancing customer accessibility and potential sales.
• Projected medical cannabis sales in West Virginia could reach $49 million by 2026, indicating market growth.

Negative

• None.

• Zen Leaf Westover is located on Fairmont Road, part of U.S. Route 19, a highly traveled highway which can see up to 49,000 vehicles per day¹
• West Virginia medical cannabis sales are projected to potentially reach $49 million by 2026, according to the MJBiz Factbook 2022
• Verano’s active operations span 13 states, comprised of 99 dispensaries and 12 cultivation and processing facilities with more than 1 million square feet of cultivation capacity
  

CHICAGO, May 26, 2022 (GLOBE NEWSWIRE) -- Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) (“Verano” or the “Company”), a leading multi-state cannabis company, today announced the opening of Zen Leaf Westover, the Company’s second in West Virginia dispensary and 99^th location nationwide, on Friday, May 27. Zen Leaf Westover, located at 871 Fairmont Road, is open Wednesday through Saturday from 11:00 a.m. to 7:00 p.m. and 10:00 a.m. to 4:00 p.m. on Sunday, local time.

Zen Leaf Westover is located in Monongalia County, the third largest county in West Virginia, with a population of over 106,000². The dispensary is conveniently located just over one mile from the Morgantown Mall and two miles from West Virginia University, which has a population of nearly 26,000 students.

“We are excited to open Zen Leaf Westover, our second dispensary in the north central region of the Mountain State,” said George Archos, Verano Founder and Chief Executive Officer. “As the state’s medical cannabis program continues to grow, patients are seeking convenient access to products that best fit their needs, and our compassionate Zen Leaf team is ready to provide patient-centric service and support for West Virginia’s medical cannabis community.”

Across West Virginia, Verano has permits issued by West Virginia’s Office of Medical Cannabis to operate a cultivation and processing facility, along with seven total medical cannabis dispensaries that are projected to continue to open throughout 2022, subject to customary approvals.

Zen Leaf Westover will offer a variety of cannabis therapeutics, including flower, topicals, edibles, and vapes. For more information about Zen Leaf Westover medical cannabis dispensary or to place an order, visit zenleafdispensaries.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 15 U.S. states, with active operations in 13, including 12 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
517-672-8001

Investors
Verano
Julianna Paterra, CFA
Director, Investor Relations
Julianna.Paterra@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", “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". 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 operations. 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 publicly available 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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¹West Virginia Department of Transportation
² United States Census

FAQ

What is the significance of Verano's new dispensary Zen Leaf Westover?

Zen Leaf Westover increases Verano's statewide presence and accessibility to medical cannabis in West Virginia.

How many dispensaries does Verano operate in West Virginia?

Verano operates two dispensaries in West Virginia, including Zen Leaf Westover.

Where is Zen Leaf Westover located?

Zen Leaf Westover is located at 871 Fairmont Road, on U.S. Route 19 in Monongalia County.

What are the expected medical cannabis sales in West Virginia by 2026?

Medical cannabis sales in West Virginia are projected to potentially reach $49 million by 2026.

What types of products does Zen Leaf Westover offer?

Zen Leaf Westover offers a variety of cannabis products, including flower, topicals, edibles, and vapes.