Verano Welcomes Ohio Medical Cannabis Patients at Prime New Location for Zen Leaf Canton Dispensary

Rhea-AI Summary

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) announced the reopening of Zen Leaf Canton at its new location on Cleveland Ave NW on April 4, 2022. The move aims to enhance patient experience with larger space and improved amenities, situated near key local attractions. Ohio's medical cannabis market is expected to generate over $507 million in revenue by 2022. Verano operates five dispensaries in Ohio and has a national footprint across 13 states, with a total of 95 dispensaries and significant cultivation capacity.

Positive

• Relocation to a busier area may increase foot traffic and sales.
• Enhanced store space and amenities improve customer experience.
• Ohio's medical cannabis market projected to generate over $507 million in revenue.

Negative

• None.

• Zen Leaf Canton is relocating from its former home in an industrial area on Steinway Boulevard to 3224 Cleveland Avenue NW, a busy thoroughfare situated just over one mile from the Pro Football Hall of Fame that sees average daily traffic of 18,427 vehicles per day¹
• Ohio medical cannabis sales are expected to generate more than $507 million in revenue through the end of 2022²
• Verano’s Ohio footprint includes a cultivation and processing facility and five dispensaries; 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
  

CHICAGO, April 04, 2022 (GLOBE NEWSWIRE) -- Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) (“Verano” or the “Company”), a leading multi-state cannabis company, today announced the reopening of Zen Leaf Canton in its new location at 3224 Cleveland Ave NW on Monday, April 4^th at 10 a.m. local time.

Zen Leaf Canton’s new location in the city of 70,000 residents³ is situated in a retail corridor just over one mile away from the iconic Pro Football Hall of Fame, several nearby universities and cultural institutions, and major highways including interstate 77 and route 62. While guests can expect the same patient-centric, compassionate care when visiting the new Zen Leaf Canton location, they will find enhanced amenities including a larger store space, additional registers, and more customer parking.

“We’re thrilled to reopen Zen Leaf Canton, where our valued patients will be greeted by an elevated experience in a prime location while purchasing their favorite cannabis therapeutics,” said George Archos, Verano Founder and Chief Executive Officer. “I’m grateful for our team members, the community and our patients, and look forward to welcoming guests at our new Zen Leaf Canton dispensary location in the important Ohio market.”

Zen Leaf Canton is open 10 a.m.-7 p.m. Monday through Friday, and 10 a.m.-5 p.m. Saturday and Sunday, local time. Verano’s comprehensive offering of premium medical cannabis products, sold under the Verano^™, Avexia^™, and Encore^™ brands, are available to registered Ohio patients through its own five store footprint and additional licensed retailers across the state.

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.

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¹ Source: Ohio Dept of Transportation
² Source: BDSA Data
³ Source: Census.gov

FAQ

What is the new location for Zen Leaf Canton?

Zen Leaf Canton has relocated to 3224 Cleveland Avenue NW.

When did Zen Leaf Canton reopen?

Zen Leaf Canton reopened on April 4, 2022, at 10 a.m. local time.

What are the operating hours for Zen Leaf Canton?

Zen Leaf Canton operates from 10 a.m. to 7 p.m. Monday through Friday, and from 10 a.m. to 5 p.m. on Saturday and Sunday.

How many dispensaries does Verano operate in Ohio?

Verano operates five dispensaries in Ohio.

What is Verano's stock symbol?

Verano's stock symbol is VRNOF.

How many states does Verano operate in?

Verano operates in 13 states across the U.S.