Verano Holdings To Commence Trading February 17, 2021

Verano Holdings (CSE: VRNO) is set to commence trading on the CSE next week. The company this evening announced the closing of its reverse takeover transaction, with the firm now set to begin trading on February 17, 2021.

The company will trade on the Canadian Securities Exchange under the ticker symbol “VRNO.”

Under the terms of the transaction, Verano has completed the reverse takeover of Majesta Minerals, while also seeing the conditional approval of the listing of its subordinate voting shares. Additionally, the company has now closed the merger transaction between that of Verano Holdings and AltMed.

The closing of the transaction effectively creates one of the three largest multi-state operators in the US, as per the company, in terms of revenue and EBITDA. The merged entity has operations across 11 states, and exposure to three additional states via licenses held.

Following the closing of the transaction, the company has 125.7 million subordinate voting shares outstanding, as well as 1.6 million proportionate voting shares. Proportionate voting shares each hold 100 votes, while subordinate voting shares hold 1 vote each.

The company reportedly had a pre-money valuation of $2.8 billion before the firm conducted a US$100 million financing in connection with its go-public transaction.

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.

One thought on “Verano Holdings To Commence Trading February 17, 2021

  • February 13, 2021 11:50 PM at 11:50 pm

    One important thought to think about that is making its way across the message boards is that because Verano is initially trading on the CSE and they are indicating that it will be weeks before it can trade on the OTC, the only way (that I know of) to trade Verano “indirectly” starting on Wednesday is to buy Sol Global (other than opening a CSE eligbile foreign account).

    That may spike the demand for Sol Global on Tuesday prior to Wednesday’s open on the CSE since most individuals will not be able to get Verano in the US before it spikes from its $10/share value to what is expected to be over $20/share.

    Here is an example of the discussion on the twitter feed:

    Happy Investing!


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