8-K
Verano Holdings Corp. (VRNO)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d)
of
the Securities Exchange Act of 1934
Dateof Report (Date of earliest event reported): June 29,2023
VERANO
HOLDINGS CORP.
(ExactName of Registrant as Specified in its Charter)
| British Columbia | 000-56342 | 98-1583243 |
|---|---|---|
| (State or Other Jurisdiction<br><br> <br>of Incorporation) | (Commission<br><br> <br>File Number) | (IRS Employer<br><br> <br>Identification No.) |
| 415North Dearborn Street**, 4^th^Floor** , | |
|---|---|
| Chicago**, Illinois** | 60654 |
| (Address of Principal Executive Offices) | (Zip Code) |
(312)
265-0730
(Registrant’sTelephone Number, Including Area Code)
N/A
(FormerName or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written<br> communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting<br> material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement<br> communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement<br> communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol | Name of each exchange on which registered |
|---|---|---|
| N/A | N/A | N/A |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☒
Item8.01 Other Events.
On June 29, 2023, Verano Holdings Corp. (the “Company”) issued a press release announcing the grand opening of MÜV Venice on Friday, June 30, 2023, bringing the Company’s total dispensary count to 69 in Florida and 130 nationwide. A copy of such press release is filed as Exhibit 99.1 to this report.
The information furnished under this item 8.01, including Exhibit 99.1 incorporated by reference herein, shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section and shall not be deemed to be incorporated by reference into any filing under the Securities Act or the Exchange Act.
Item9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit<br> No. | Description |
|---|---|
| 99.1 | Press Release Issued on June 29, 2023 |
| 104 | Cover<br> Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| VERANO<br> HOLDINGS CORP. | ||
|---|---|---|
| Date:<br> June 29, 2023 | By: | /s/ Laura Kalesnik |
| Name: | Laura<br> Kalesnik | |
| Title: | Chief<br> Legal Officer, General Counsel and Secretary |
Exhibit99.1
VeranoContinues Florida Retail Expansion with Opening of MÜV Venice, the Company’s 69^th^ Florida Location and 130^th^Retail Location in the Nation
| ● | MÜV<br> Venice is located at 4369 South Tamiami Trail, a busy thoroughfare with an average daily traffic count of 30,500 vehicles^1^ |
|---|---|
| ● | The<br> dispensary is located in Sarasota County, a growing region with a population of over 462,000^2^ |
| ● | Verano’s<br> active operations span 13 states, comprised of 130 dispensaries and 14 cultivation and processing facilities with more than 1 million<br> square feet of cultivation capacity |
CHICAGO, June 29, 2023 – Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) (“Verano” or the “Company”), a leading multi-state cannabis company, today announced the opening of MÜV Venice on Friday, June 30, the Company’s 69^th^ Florida dispensary and 130^th^ retail outlet nationwide. MÜV Venice is located at 4369 South Tamiami Trail, and will be open Monday through Saturday from 9 a.m. to 7 p.m. and Sunday from 11 a.m. to 5 p.m., local time.
According to Florida’s Office of Medical Marijuana Use, there are currently over 828,000 qualified medical cannabis patients in the state. Florida medical cannabis sales are projected to potentially reach $2.6 billion by 2027, as reported by MJBiz Factbook 2023.
“MÜV Venice marks our fourth dispensary in Sarasota County, providing another convenient location for Florida’s medical cannabis patients to access our wide variety of high quality products,” said John Tipton, President of the Southern Region. “We look forward to introducing our signature, elevated retail experience to the Venice community, and continuing to deliver on our promise to provide the best cannabis products and patient-centric hospitality to Florida’s medical marijuana community.”
As a demonstration of Verano’s 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, including the Company’s signature Verano Reserve, MÜV and Sweet Supply flower, Encore edibles, and Savvy flower and extracts. The Company also offers one-on-one virtual and in-store consultations at no cost to patients and provides patient-centric concierge services via phone, email, web chat and text to address patient questions and inquiries. For additional convenience and accessibility, patients can choose to order ahead at muvfl.com or through the MÜV mobile application available in the Google Play and Apple App stores for express in-store pickup.
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.
1 Florida Department of Transportation
2 U.S. Census Bureau
For more information about MÜV Venice medical cannabis dispensary, visit muvfl.com.
AboutVerano
Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF), one of the U.S. cannabis industry’s leading companies based on historical revenue, geographic scope and brand performance, is a vertically integrated, multi-state operator embracing a mission of saying Yes to plant progress and the bold exploration of cannabis. Verano offers a superior cannabis shopping experience in medical and adult use markets under the Zen Leaf^™^ and MÜV^™^ dispensary banners and produces a comprehensive suite of high-quality, regulated cannabis products sold under its diverse portfolio of trusted consumer brands including Verano^™^, MÜV^™^, Savvy^™^, BITS^™^, Encore^™^, and Avexia^™^. Verano’s active operations span 13 U.S. states, comprised of 14 production facilities with over 1,000,000 square feet of cultivation capacity. Learn more at www.verano.com.
Contacts:
Media
Verano
Grace Bondy
Senior Manager, Communications
Grace.Bondy@verano.com
Investors
Verano
Julianna Paterra, CFA
Vice President, Investor Relations
Julianna.Paterra@verano.com
ForwardLooking Statements
This press release may contain “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 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 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”, “projects” “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”. Forward-looking 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 statements herein, including, without limitation, the risk factors described in the Company’s annual report on Form 10-K for the year ended December 31, 2022 filed with the U.S. Securities and Exchange Commission at www.sec.gov. The 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.