Verano Founder and Chief Executive Officer George Archos and Chief Operating Officer Darren Weiss Share Celebratory Comments on New Jersey Cannabis Regulatory Commission’s Approval of Personal Use Cannabis Sales
Verano Holdings Corp. (OTCQX: VRNOF) announced the New Jersey Cannabis Commission's approval of personal use cannabis sales, allowing the company to lead the initial rollout in the state. Verano operates three Zen Leaf dispensaries and a 120,000 sq. ft. cultivation facility in New Jersey, with active operations in 13 states nationwide. Executives expressed optimism regarding economic growth and tax revenue from this move, highlighting a significant moment for the cannabis industry.
- Verano is the sole operator authorized for initial personal use cannabis sales in New Jersey, positioning it for significant market advantage.
- The approval is expected to drive economic growth and tax revenue in New Jersey, benefiting the company and its local operations.
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CHICAGO, April 11, 2022 (GLOBE NEWSWIRE) -- Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) (“Verano” or the “Company”), a leading multi-state cannabis company, today shared executive commentary applauding the New Jersey Cannabis Commission’s (“CRC”) approval of personal use cannabis sales in the state. Verano is the sole operator currently permitted to participate in the initial rollout of personal use sales throughout the state’s central region, and the Company looks forward to completing all final regulatory items required to commence personal use sales.
Quote from George Archos, Verano Founder and Chief Executive Officer:
“Today’s announcement is truly a monumental day for cannabis in New Jersey. The introduction of personal use sales will provide tremendous economic growth, tax revenue, and career opportunities for the benefit of countless New Jersey residents and businesses. On behalf of Verano, we are ready to welcome personal use customers alongside our valued medical patients at our New Jersey Zen Leaf dispensaries, where our attentive staff will provide compassionate care and counsel for our visitors for years to come. I’d like to thank Governor Murphy, CRC Executive Director Jeff Brown, and all the Commissioners, for their leadership in bringing this historic transition to life.”
Quote from Darren Weiss, Verano Chief Operating Officer and General Counsel:
“The approval of personal use cannabis marks a huge step forward for New Jersey, the cannabis industry, and the nation at large. Today, the state of New Jersey and its residents were the latest American citizens to see the power of their votes in favor of cannabis legalization create meaningful change, signifying another momentous step forward in righting the historical injustices that cannabis prohibition has inflicted on communities across the nation. On behalf of our Verano New Jersey team, we look forward to welcoming personal use visitors to our Zen Leaf dispensaries.”
Verano’s New Jersey footprint consists of three cannabis dispensaries operated under the Company’s flagship Zen Leaf brand in Elizabeth (117 Spring St), Lawrence Township (3256 Brunswick Pike), and Neptune Township (2100 Route 66), along with a state-of-the-art, 120,000 square foot cultivation and processing facility in Branchburg. Nationally, the Company’s active operations span 13 states, comprised of 95 dispensaries and 12 cultivation and processing facilities with more than 1 million square feet of cultivation capacity.
Verano offers a wide range of premium cannabis products sold at its Zen Leaf New Jersey Locations, including concentrates, edibles, vaporizers and flower. Customers may pre-order online at www.zenleafdispensaries.com for same day, in-store pick up. Business hours at Zen Leaf’s Elizabeth and Lawrence Township locations are Monday through Saturday, 10:00 a.m. – 7:00 p.m., and 10:00 a.m. – 5:00 p.m. on Sunday. Business hours for Zen Leaf Neptune Township are Monday through Saturday, 9:00 a.m. – 9:00 p.m., and 10:00 a.m. – 6:00 p.m. on Sunday.
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:
Investors
Verano
Julianna Paterra, CFA
Director, Investor Relations
julianna.paterra@verano.com
Media
Verano
Steve Mazeika
Director, Communications
steve.mazeika@verano.com
312-348-4430
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 include, but are not limited to, statements or information with respect to the Company’s position in the marketplace, and 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 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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