Verano Opening 41st Florida MÜV Cannabis Dispensary in Stuart, Company's First Location in Martin County on State’s Popular “Treasure Coast”

Rhea-AI Summary

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) has announced the opening of a new MÜV dispensary in Stuart, Florida, on December 18, 2021. This opening expands Verano’s national retail footprint to 93 dispensaries. MÜV Stuart is strategically located on a high-traffic road, attracting significant vehicle and event foot traffic. The company aims to serve patients in the growing 'Treasure Coast' area with a range of premium cannabis products and customer-friendly services such as online ordering and consultations.

Positive

• Expansion of retail footprint to 93 locations nationwide.
• Located in a high-traffic area with 27,000 daily vehicles.
• Access to major local events attracting 40,000 and 18,000 visitors.

Negative

• None.

• Stuart opening expands MÜV to 41 locations statewide, including six storefronts in Southeast Florida, and extends Verano’s total national retail footprint to 93 dispensaries nationwide¹
• MÜV Stuart is positioned just east of the St. Lucie River on SW Monterey Road, a high-traffic area that sees an average of 27,000 vehicles per day²
• The dispensary is located near some of the city's most popular events, including the three-day annual Stuart Air Show and Stuart Boat Show, which see 40,000 and 18,000 visitors, respectively
  

CHICAGO, Dec. 17, 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 a new MÜV Florida dispensary, located at 265 SW Monterey Road in Stuart, on Saturday, December 18th at 9:00 a.m. local time.

Situated on Florida’s scenic “Treasure Coast,” Stuart is located in a popular area that boasts 160 locally owned restaurants and over 60 miles of coastline, according to local tourism statistics.

“We’ve long considered Stuart and greater Martin County an attractive market, and we’re thrilled to open our first MÜV dispensary in the area,” said John Tipton, President of Verano. “We believe Stuart and the ‘Treasure Coast’ region will continue to draw more tourists and new residents every year, and we look forward to offering our suite of premium medical cannabis products to serve patients in this growing, vibrant community.”

As a demonstration of their commitment to provide a convenient and reliable experience for Florida patients, MÜV dispensaries feature online menus for effortless browsing of their extensive, award-winning product selection. For additional convenience and accessibility, patients can choose to order ahead at muvfl.com for express in-store pickup.

MÜV offers one-on-one virtual and in-store consultations at no cost to the patient. MÜV’s comprehensive product selection includes MÜV Wana Soft Chew edibles, chocolates and lozenges, flower, pre-rolls, an array of vaporizer pens, concentrates, metered-dose inhalers, topicals and oral sprays; along with patented encapsulation formulations in its EnCaps^™ capsules, tinctures, 72-hour transdermal patches and transdermal gels.

For more information about the new Stuart medical cannabis dispensary, including hours and available MÜV Products, visit muvfl.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 12, 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
Director, Investor Relations
Julianna@verano.com

Media

Verano
Steve Mazeika
Director, Communications
steve.mazeika@verano.com
312-348-4430

Sard Verbinnen & Co. Gabriella Coffey / Ryan McDougald
Verano-SVC@sardverb.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 include, but are not limited to, statements or information with respect to the Company’s position in the marketplace, the timeline associated with the opening of retail establishments, 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 annual report and quarterly 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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¹ Includes impact of pending acquisitions
² Source: Florida Dept. of Transportation

FAQ

What is the significance of the new MÜV dispensary opening in Stuart, FL for Verano (VRNOF)?

The opening marks Verano's expansion to 93 dispensaries nationwide, enhancing its market presence.

How many locations does Verano currently operate after the Stuart dispensary opening?

After the opening, Verano operates 93 dispensaries across the nation.

What are the traffic statistics for the area where MÜV Stuart is located?

MÜV Stuart is situated on a high-traffic road, seeing an average of 27,000 vehicles per day.

When did the MÜV dispensary in Stuart officially open?

The MÜV dispensary in Stuart opened on December 18, 2021.