Verano Completes Territory, Emerald and Local Joint Acquisitions in Arizona
Verano Holdings Corp. (CSE: VRNO) (Pink: VRNOF) has successfully completed its acquisition of three dispensaries in Arizona, significantly expanding its retail footprint. The acquired businesses include Territory Dispensary, Emerald Dispensary, and Local Joint Dispensary. Verano now operates six storefronts and two cultivation facilities in Arizona, making it the third largest cannabis retailer in the state. The acquisitions encompass high-traffic dispensaries across key locations, enhancing Verano's market presence and operational capacity.
- Expanded retail footprint in Arizona to six active storefronts.
- Acquired three high-traffic dispensaries in strategic locations.
- Increased cultivation capacity with approximately 20,000 sq. ft. of processing space.
- None.
CHICAGO, April 09, 2021 (GLOBE NEWSWIRE) -- Verano Holdings Corp. (CSE: VRNO) (Pink: VRNOF) (“Verano” or “the Company”), a leading multi-state cannabis company, today announced it has closed on its Arizona acquisitions of Territory Dispensary, Emerald Dispensary and Local Joint Dispensary. The Company now has the third largest retail footprint in Arizona with six active storefronts, plus two cultivation facilities.
Transaction Highlights
Territory Dispensary
- The transaction included three premium, high-traffic dispensaries located in Mesa, Chandler and Gilbert, Arizona, plus approximately 20,000 sq. ft. of cultivation and processing in Winslow, and two real estate locations (collectively, the “Territory Dispensary”). For further information on the transaction, please see the Company’s previous announcement.
Emerald Dispensary
- The transaction included one highly productive dispensary in Central Phoenix. For additional information on this transaction, please refer the Company’s previous announcement.
Local Joint Dispensary
- The transaction included one highly productive dispensary, primely located just minutes from the Phoenix airport and the densely-populated university campus community. For additional information on this transaction, please see the Company’s previous announcement.
About Verano
Verano Holdings Corp. 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: Verano, Avexia, Encore, and MÜV™. The company’s portfolio encompasses 14 U.S. States, with active operations in 11, which includes eight production facilities comprising approximately 770,000 square feet of cultivation. Verano designs, builds, and operates dispensaries under retail brands 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 may include, but are not limited to, information concerning the ability of the Company to complete the transactions referred to herein, the satisfaction of conditions to closing, the receipt of all necessary approvals including regulatory approvals, the integration of the operations of the companies being acquired, the proposed management of the companies being acquired and expectations for other economic, market, business, and competitive factors.
Although Verano believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward- looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. 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 Holdings
Aaron Miles
Head of Investor Relations
aaron@verano.holdings
Media
Verano Holdings
David Spreckman
Sr. Director, Corporate Communications & Retail Marketing
david@verano.holdings
312-265-0730
