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Verano Holdings Corp. (VRNOF) Stock Dips After Acquiring Dayton Dispensary

Friday, July 09, 2021 01:20 PM | Kyle Depontes
Verano Holdings Corp. (VRNOF) Stock Dips After Acquiring Dayton Dispensary

What is going on with VRNOF?

Verano Holdings Corp. (VRNOF), a leading multi-state cannabis company, today announced it has closed its acquisition of Mad River Remedies, LLC, a dispensary in Dayton, Ohio. Shares of VRNOF declined 1.53% to $15.69 as of Friday at 1:09pm.

What does this mean for Verano Holdings Corp?

Verano's acquisition of River Remedies bring its total number of Ohio dispensaries to five - the maximum permitted in the state. Currently, the company has retail storefronts in Bowling Green, Canton, Cincinnati, and Newark. Verano will look to take advantage of the growing medical cannabis market in the state, which is only in its infancy.

“Over the course of the last year, Ohio developed into a core market for us, and we’re pleased to gain coverage of the substantial Dayton market through this acquisition of Mad River Remedies,” said George Archos, Verano Founder and CEO. “The dispensary is located just a few miles from the busy and beautiful downtown Dayton area, in the Riverside community, and is positioned across the street from the National Museum of the US Air Force."

The company’s comprehensive offering of medical cannabis products, sold under the Verano, Avexia, and Encorebrands, are available to registered Ohio patients through its own five store footprint and more than 40 other licensed retailers across the state.

Short-Term Technical Rank - 3

VRNOF has a Short-Term Technical Rank of 3. Find out what this means to you and get the rest of the rankings on VRNOF!

Verano Holdings Corp is a vertically integrated multi-state cannabis operator in the United States. The company operates licensed cannabis cultivation, processing, and retail facilities. It produces a full suite of premium, artisanal cannabis products sold under a trusted portfolio of consumer brands: Encore, MUV, Avexia, and Verano.

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