Verano Completes Acquisition Of Two Cannabis Dispensaries And Cultivation Facility In Nevada

Verano Holdings Corp. VRNOF VRNO closed its transaction to acquire all of the equity interests of WSCC, Inc., d/b/a Sierra Well, adding two operational dispensaries and an active cultivation and production facility in Nevada, along with two real estate properties in Carson City and Reno. The acquisition, increases Verano’s vertically-integrated Nevada operations to five active dispensaries and two cultivation and production facilities that are geographically spread across the state’s key population and tourist regions.

“Today signifies a huge step forward for our business in Nevada, a state that we have long considered a core growth market and key piece of our operational footprint,” stated George Archos, Verano founder and CEO. “Gaining a presence in Reno and Carson City provides Verano with comprehensive retail and distribution opportunities in Northern Nevada that compliment our current operations in the Las Vegas area. With a growing population, booming tourism and an abundance of natural beauty, we look forward to a bright future in the great state of Nevada.”

Transaction Details
With the consummation of the transaction, Sierra Well is now a wholly-owned subsidiary of the company. The transaction includes in total two medical cannabis cultivation licenses; two adult-use cultivation licenses; two medical cannabis dispensary licenses; two adult-use dispensary licenses; one medical production license; one adult-use product manufacturing license; and one adult-use distribution license.

Photo: Benzinga; Sources: courtesy of patternpictures, lindsayfox via pixabay

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Comments

Cannabis rescheduling seems to be right around the corner