Verano to Acquire Sierra Well, Expanding Nevada Distribution with Two Top-Performing Dispensaries in Reno, Carson City and Additional Active Cultivation Capacity
Transaction Benefits & Market Impact
Addition of two fully-operational and top-performing dispensaries in Reno and Carson City expands strategic retail coverage of Northern Nevada. The neighboring cities have a combined population of over 300,000 residents and draw a substantial number of tourists, recently surpassing five million visitors on an annual basis. Expected to strengthen distribution capability in Northern Nevada with the addition of an approximately 10,000 sq. ft. Reno cultivation and production facility, complementing active expansion at the Verano-affiliated cultivation facility in North Las Vegas. Broadens Nevada supply chain while increasing dispensary count between Verano and its affiliates to four active storefronts, with a fifth planned location to open in Las Vegas later this summer. Builds upon Verano’s national portfolio of 79 operational dispensaries and 10 cultivation and production facilities across its active 11-state footprint.
CHICAGO, July 26, 2021 (GLOBE NEWSWIRE) — Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) (“Verano” or the “Company”), a leading multi-state cannabis company, today announced it has entered