Verano Elevates Florida Retail Footprint to 79 Dispensaries with the Openings of MÜV Melbourne and MÜV Okeechobee

Rhea-AI Summary

Verano Holdings Corp. (OTCQX: VRNOF) has expanded its Florida retail footprint with the openings of MÜV Melbourne and MÜV Okeechobee, bringing its total to 79 dispensaries in the state and 152 nationwide. The new locations will serve Brevard County (606,000+ residents) and Okeechobee County (41,000+ residents) respectively.

Key points:

• MÜV Melbourne is the company's 2nd location in Melbourne and 3rd in Brevard County
• MÜV Okeechobee expands Verano's presence in south central Florida
• Verano operates across 14 states with 152 dispensaries and 15 cultivation facilities
• The company supports the Smart and Safe Florida campaign for adult-use cannabis legalization
• Both new dispensaries offer a wide range of products and personalized customer service

Positive

• Expansion of retail footprint to 79 dispensaries in Florida and 152 nationwide
• Entry into new market (Okeechobee County) and strengthening presence in existing market (Brevard County)
• Support for adult-use cannabis legalization initiative in Florida, potentially expanding future market

Negative

• None.

• MÜV Melbourne, located at 7660 N Wickham Road, is the Company’s second MÜV location in Melbourne and third dispensary in Brevard County, a region with more than 606,000 residents¹
• Located at 510 NE Park Street, MÜV Okeechobee broadens the Company’s retail presence to Okeechobee County, a region with more than 41,000 residents¹
• Verano’s active operations span 14 states, comprised of 152 dispensaries and 15 cultivation and processing facilities, with more than 1.1 million square feet of cultivation capacity
• Verano is an active supporter of the Smart and Safe Florida campaign, a multi-stakeholder effort advocating for the passage of the Amendment 3 ballot initiative to legalize adult-use cannabis in the Sunshine State

CHICAGO, Sept. 12, 2024 (GLOBE NEWSWIRE) -- Verano Holdings Corp. (Cboe CA: VRNO) (OTCQX: VRNOF) (“Verano” or the “Company”), a leading multi-state cannabis company, announced today the openings of MÜV Melbourne and MÜV Okeechobee on Friday, September 13, raising the Company’s retail footprint to 79 Florida dispensaries and 152 retail locations nationwide. MÜV Melbourne, located at 7660 N Wickham Road, and MÜV Okeechobee, located at 510 NE Park Street, 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.

Situated in Florida’s Brevard County, a growing region counting more than 606,000 residents¹, MÜV Melbourne complements Verano’s nearby MÜV West Melbourne and Satellite Beach dispensary locations. The opening of MÜV Okeechobee also expands Verano's footprint in south central Florida near existing MÜV dispensaries in Port Saint Lucie, Fort Pierce, Stuart and Hobe Sound.

"We are thrilled to bring MÜV to the Okeechobee community and add another convenient location in Melbourne, where patients can access our wide selection of award-winning products and receive the personalized care and guidance they deserve from our knowledgeable team members," said John Tipton, President of the Southern Region. “Floridians have the historic opportunity to end cannabis prohibition this November by voting ‘yes’ on Amendment 3, and we’re excited to welcome patients in Okeechobee and Melbourne as we continue our retail growth throughout this historic time for cannabis in the Sunshine State.”

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, On the Rocks concentrates and extracts, and (the) Essence and Savvy flower and extracts, spanning an extensive array of options for patients. 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 inquiries.

For additional convenience and accessibility, patients can visit muvfl.com or the MÜV mobile application - available in the Google Play and Apple App stores - for additional information and to place orders for express in-store pickup.

Product images, logos and b-roll footage are available on the Company Newsroom.

About Verano

Verano Holdings Corp. (Cboe CA: VRNO) (OTCQX: VRNOF), one of the U.S. cannabis industry’s leading companies based on historical revenue, geographic scope and brand performance, is a vertically integrated, multi-state operator embracing a mission of saying Yes to plant progress and the bold exploration of cannabis. Verano offers a superior cannabis shopping experience in medical and adult use markets under the Zen Leaf^™ and MÜV^™ dispensary banners and produces a comprehensive suite of high-quality, regulated cannabis products sold under its diverse portfolio of trusted consumer brands including Verano^™, MÜV^™, (the) Essence^™, Savvy^™, BITS^™, Encore^™, and Avexia^™. Verano’s active operations span 14 markets, 15 production facilities, and over 1,100,000 square feet of cultivation capacity. 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 contains “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, strategies, 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 annual report on Form 10-K for the year ended December 31, 2023 and any subsequent quarterly reports on Form 10-Q, in each case, 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: U.S. Census

FAQ

How many dispensaries does Verano Holdings (VRNOF) now have in Florida after the new openings?

After opening MÜV Melbourne and MÜV Okeechobee, Verano Holdings (VRNOF) now has 79 dispensaries in Florida.

What is the total number of Verano Holdings (VRNOF) dispensaries nationwide as of September 2024?

As of September 2024, Verano Holdings (VRNOF) has a total of 152 dispensaries nationwide.

In which counties are the new MÜV dispensaries located for Verano Holdings (VRNOF)?

The new MÜV dispensaries are located in Brevard County (Melbourne) and Okeechobee County (Okeechobee).

What campaign is Verano Holdings (VRNOF) supporting regarding cannabis legalization in Florida?

Verano Holdings (VRNOF) is an active supporter of the Smart and Safe Florida campaign, which advocates for the passage of Amendment 3 to legalize adult-use cannabis in Florida.