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.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.