Verano Maximizes New Jersey Footprint with Opening of Zen Leaf Lawrence

Rhea-AI Summary

Verano Holdings Corp. has opened its third Zen Leaf dispensary in New Jersey, located on Route 1 in Lawrence Township. This marks the 78th retail location for the company and is strategically positioned near high traffic areas, including Quakerbridge Mall. The municipality has recently approved adult-use cannabis, allowing for recreational sales to commence when the program launches. Zen Leaf Lawrence offers a variety of cannabis products and aims to meet the growing demand in New Jersey's evolving cannabis market.

Positive

• Opening of third Zen Leaf dispensary in New Jersey enhances market presence.
• Strategic location on Route 1 expected to drive customer traffic.
• Ability to start recreational sales aligns with recent adult-use cannabis legislation.

Negative

• None.

• Lawrence is the Company’s third Zen Leaf dispensary in New Jersey, the maximum number permitted in the state, and its 78^th active retail location overall.
• The dispensary is primely located on Route 1 – a main thoroughfare connecting New York City and Philadelphia which sees over 100,000 cars pass through Lawrence each day – set in front of one of the largest malls (Quakerbridge) in New Jersey, and just seven miles from the university campus in Princeton.
• The municipality recently opted-in to allow adult-use cannabis, giving Zen Leaf Lawrence the ability to begin making recreational sales when the program comes online.
  
  

CHICAGO, June 04, 2021 (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 Lawrence. Located near Trenton and the Pennsylvania border, this is the third Zen Leaf dispensary in New Jersey, joining existing storefronts in Elizabeth and Neptune, and is one of less than 20 dispensaries currently operating in the state.

“Maximizing our presence in New Jersey with Zen Leaf Lawrence comes at an exciting time,” said George Archos, Verano Founder and CEO. “New Jersey has the potential to become one of the top cannabis markets on the East Coast, given the passing of adult-use legislation earlier this year. For the patients of New Jersey, and eventually adult-use consumers, we’re pleased to open our third Zen Leaf dispensary and provide additional coverage in the market.”

Zen Leaf Lawrence offers a wide range of premium cannabis products including concentrates, edibles, vaporizers and flower. Customers may pre-order online at www.zenleafdispensaries.com for same day, in-store pick up.

Zen Leaf Lawrence is located at 3256 Brunswick Pike, Lawrence Township, NJ 08648. Business hours are Monday through Saturday, 10:00am – 7:00pm, and 10:00am – 5:00pm on Sunday.

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 nine production facilities comprising approximately 770,000 square feet of cultivation. Verano designs, builds, and operates dispensaries under retail brands Zen Leaf^™ and MÜV^™, focusing on 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 may contain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that 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, 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 include the Company’s position in the marketplace, the fortification of the Company’s presence in the New Jersey market, and the size of the New Jersey cannabis market.

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, including, without limitation, the risk factors discussed in the Company's annual and quarterly reports and other 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.

Contacts:

Investors:
Verano Holdings
Aaron Miles
Chief Investment Officer
aaron@verano.holdings

Media:
Verano Holdings
David Spreckman
VP, Marketing & Communications
david@verano.holdings

FAQ

What is the significance of the new Zen Leaf dispensary opening in New Jersey for Verano Holdings (VRNOF)?

The opening marks Verano's third Zen Leaf dispensary in New Jersey, increasing its market share and presence in a state with growing cannabis demand.

Where is the new Zen Leaf dispensary located?

The Zen Leaf Lawrence dispensary is located at 3256 Brunswick Pike, Lawrence Township, NJ 08648.

When will adult-use cannabis sales begin at Zen Leaf Lawrence?

Recreational sales at Zen Leaf Lawrence will begin once the adult-use cannabis program is launched in New Jersey.

How many dispensaries does Verano Holdings currently operate in New Jersey?

Verano Holdings operates three Zen Leaf dispensaries in New Jersey.