Sunday, September 14, 2025

Verano Holdings Pays US$17.0 Million For Single Retail Location In Arizona

Verano Holdings (CSE: VRNO) this morning expanded its presence in the state of Arizona. The company has entered into an arrangement to acquire control (but not actual ownership) of a single dispensary located in Phoenix, Arizona.

The transaction will see the company acquire control of that of Patient Alternative Relief Centre, whom does business as Local Joint. Following the close of the transaction, the firms retail footprint will grow to six retail dispensaries in the state.

The expansion does not come cheap however, with Verano agreeing to pay US$17.0 million for the operator, with an arrangement that will see the company “acquire the rights to manage” the facility from Flower Launch LLC. Consideration is to consist of US$10.0 million in cash at the time of closing and a US$3.5 million promissory note that comes due in 120 days, along with US$3.5 million worth of Class A subordinate voting shares.

Financial performance of the operator was not provided. The transaction is currently slated to close in late Q1 or early Q2 2021.

Verano Holdings last traded at $25.56 on the CSE.


Information for this briefing was found via Sedar, and Verano Holdings. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Soma Gold Q2 Earnings: Production Drops Amid Growth Effort

Guanajuato Q2 Earnings: Things Are Going Backwards

Electric Metals: The Sole US Domestic Source Of A Critical Mineral?

Recommended

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Goliath Resources Hits 18.58 g/t Gold Over 5.00 Metres At Surebet

Related News

Verano Holdings Reports Revenues Of $120.9 Million, Net Income Of $68.8 Million

Verano Holdings (CSE: VRNO) reported first quarter financial results this morning, reporting revenues of $143.0...

Tuesday, May 18, 2021, 08:04:37 AM

Verano Starts The Year Off By Replacing CFO

Verano Holdings (CSE: VRNO) appears to be starting the year off with an executive change....

Monday, January 3, 2022, 08:02:04 AM

Verano Terminates Deal To Acquire Goodness Growth, Goodness Readies For Court

Verano Holdings (CSE: VRNO) took center stage this morning in M&A drama, announcing that it...

Friday, October 14, 2022, 09:18:45 AM

Verano Holdings Posts Q3 Revenues of $207 Million, Positive Net Income

Verano Holdings (CSE: VRNO) this morning released its third quarter financial results. Results came in...

Tuesday, November 16, 2021, 07:31:56 AM

Verano Announces $100.0 Million Financing, $122.8 Million Acquisition Of Arizona Assets

Verano Holdings (CSE: VRNO) this morning announce that it will be conducting a bought deal...

Wednesday, February 24, 2021, 08:47:19 AM