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Multi-state cannabis operator Verano Holdings Corp. (CSE:VRNO) (OTCQX:VRNOF) confirmed Wednesday that it has signed multiple agreements to acquire all of the issued and outstanding equity interests of Caring Nature, LLC and Connecticut Pharmaceutical Solutions, Inc., along with the closing of its acquisition of Willow Brook Wellness, LLC.
Collectively, these acquisitions expand Verano’s presence on the East Coast with the addition of vertically integrated operations in the Connecticut cannabis market.
Caring Nature owns an active dispensary in Waterbury, CT; Connecticut Pharmaceutical Solutions owns an operating cultivation and production facility in Rocky Hill, CT and Willow Brook Wellness holds an active dispensary in Meriden, CT.
“We are excited about the continued expansion of both our national platform and our East Coast hub. Entering the Connecticut market ahead of its adult-use transition provides a clear runway for sustainable, long-term growth,” George Archos, Verano founder and CEO said. “These acquisitions are well-aligned with our broader growth strategy, and further strengthen our operational bandwidth by bringing management teams on board that have demonstrated multi-disciplinary savvy and a keen understanding of the Connecticut market in both the retail and wholesale channels.”
Price Action
Verano Holdings’ shares were trading 0.39% higher at $12.37 per share at the time of writing Wednesday morning.
Photo: Courtesy of Avery Meeker on Unsplash