Verano Opening Two MÜV Dispensaries in Florida’s Tampa Bay Area, Raising Company’s Total to 43 Storefronts Statewide

Rhea-AI Summary

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) announced the grand opening of its 42nd and 43rd MÜV dispensaries in Florida on March 19, 2022. Located in Hillsborough County, MÜV Brandon and MÜV New Tampa aim to provide high-quality medical cannabis to a rapidly growing population. Hillsborough County has seen a significant population increase, adding over 200,000 residents from 2010 to 2020. Verano is committed to enhancing patient experience with online menus and consultations, establishing itself firmly in the Florida cannabis market.

Positive

• Expansion to six locations in Hillsborough County, enhancing market presence.
• Located in high-traffic areas, increasing customer accessibility.
• Strong commitment to patient convenience with online services and consultations.

Negative

• None.

• The new MÜV Brandon and MÜV New Tampa dispensaries expand Verano’s footprint to six locations in Hillsborough County and ten in the greater Tampa Bay area.
• MÜV Brandon is positioned on Lumsden Road, minutes from the city’s major shopping corridor, and MÜV New Tampa is located on busy Bruce B. Downs Boulevard, a thoroughfare with average daily traffic of 56,500 cars, according to the Florida Department of Transportation.

CHICAGO, March 18, 2022 (GLOBE NEWSWIRE) -- Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) (“Verano” or the “Company”), a leading multi-state cannabis company, today announced the opening of its 42^nd and 43^rd MÜV dispensaries in Florida. MÜV Brandon, located at 942 West Lumsden Road, and MÜV New Tampa, situated at 17521 Preserve Walk Lane, are both scheduled to open on Saturday, March 19^th at 9:00 am local time.

MÜV Brandon and MÜV New Tampa are both located in Hillsborough County, a rapidly-growing area that has added more than 200,000 residents between 2010 and 2020, according to the Florida Office of Economic and Demographic Research. The county population now totals 1.4 million, or just over 6% of the state’s total population.

“Hillsborough County has been home to MÜV dispensaries since 2017, and over the last five years, we have witnessed Tampa and its surrounding communities exponentially grow, thrive and expand,” said John Tipton, President of Verano. “We have listened to our patients and learned the lengths to which some travel to obtain their needed alternative medicine. With the opening of MÜV Brandon and MÜV New Tampa, we will be well positioned to provide the highest quality medical cannabis to the furthest reaches of the fourth largest county in the state.”

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 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 Brandon and New Tampa medical cannabis dispensaries, 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 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:

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

Investors
Verano
Julianna Paterra, CFA
Director, Investor Relations
Julianna.Paterra@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", “future”, "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 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 publicly available 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.

###

FAQ

What is the significance of the new MÜV dispensaries for Verano (VRNOF)?

The new MÜV Brandon and MÜV New Tampa dispensaries enhance Verano's market presence in Hillsborough County, now totaling six locations.

When did Verano open its new dispensaries in Florida?

Verano opened the MÜV Brandon and MÜV New Tampa dispensaries on March 19, 2022.

How many dispensaries does Verano currently operate in Florida?

With the new openings, Verano operates 43 dispensaries in Florida.

What are the benefits of MÜV's new dispensaries in high-traffic locations?

The locations on busy roadways increase customer accessibility and potential sales for Verano.

How does Verano support its patients at the new MÜV locations?

Verano offers online menus, express in-store pickup, and free consultations to enhance patient experience.