Verano to Open 39th Florida MÜV Dispensary in Melbourne and 90th Nationwide

Rhea-AI Summary

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) has opened its 39th MÜV dispensary in Melbourne, Florida, marking the company's 90th nationwide location. Situated on West New Haven Avenue, the dispensary aims to serve the area's growing medical cannabis patient base, particularly benefiting from the record-breaking tourism growth in the Space Coast region. The grand opening event coincided with Black Friday, highlighting the company's commitment to accessibility through features like online menus and home delivery services. Verano's product range includes topicals, edibles, and inhalation formats.

Positive

• Opened 39th MÜV dispensary in Florida and 90th nationwide.
• Located in high-traffic area with 32,000 daily vehicles, enhancing visibility.
• Melbourne's tourism growth presents a significant customer base opportunity.
• Commitment to accessibility with online ordering and home delivery.

Negative

• None.

• Melbourne marks the 39^th Florida MÜV dispensary and second location on the state’s celebrated Space Coast, representing Verano’s 90^th dispensary storefront nationwide¹.
• MÜV Melbourne is situated off Interstate 95 on West New Haven Avenue’s hospitality corridor, a major thoroughfare with an average daily car count of 32,000 cars, according to the Florida Department of Transportation.
• Despite the pandemic, Melbourne and the surrounding Space Coast experienced record-breaking tourism growth from September 2020 to September 2021, with particularly strong July 2021 numbers that showed an increase of 81% year over year, according to the Associated Press.
  

CHICAGO, Nov. 26, 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 4450 West New Haven Avenue in Melbourne. The retail storefront opens with a Black Friday grand opening event on November 26^th at 10:00 a.m. local time, marking the 39^th MÜV dispensary in the state and 90^th nationwide for Verano.

Melbourne is a destination for a diverse set of tourists and enjoys a reputation as a surfing hub for athletes and spectators alike. The city and surrounding Space Coast beaches are often referred to as the “East Coast Surf Capital of the U.S.,” given the region hosts many preeminent annual surfing competitions that attract visitors from across the nation and the state. As a demonstration of their commitment to providing 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 or take advantage of home delivery service that is available across the state within a 20-mile radius of MÜV storefronts.

“Melbourne’s location on Florida’s beautiful Space Coast features a vibrant and active community that we’re thrilled to join,” said John Tipton, President of Verano. “MÜV Products were developed to help Floridians of all ages and lifestyles stay active and moving. With our range of topicals, transdermals, and various oral and inhalation product formats, we are looking forward to welcoming medical cannabis patients from across the Melbourne area to our magnificent new MÜV dispensary.”

MÜV offers one-on-one consultations both in-store and virtually, 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 Melbourne 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. 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.

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 certain 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 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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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

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¹ Includes impact of pending acquisitions.

FAQ

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

The new MÜV dispensary represents Verano's 39th location in Florida and enhances its presence in a growing market, especially in a high-traffic area.

How does Melbourne's tourism growth impact Verano (VRNOF)?

Melbourne's record-breaking tourism growth provides a larger customer base for Verano's new dispensary, likely increasing sales opportunities.

What types of products does the MÜV dispensary in Melbourne offer?

The MÜV dispensary offers a range of products including topicals, edibles, vaporizer pens, and transdermal formulations.

When did the new MÜV dispensary in Melbourne open?

The MÜV dispensary in Melbourne opened on November 26, 2021, coinciding with Black Friday.

What initiatives does Verano (VRNOF) provide for patient convenience?

Verano offers online menus, express in-store pickup, and home delivery services to enhance patient convenience.