Cannabis Dispensary Roundup: Verano, Green Thumb Industries, High Tide, Shasta Management

Verano Opens Dispensary In Pittsburgh, Western Pennsylvania’s First Drive-Through

Verano Holdings Corp. VRNO VRNOF kicked off sales of medical cannabis at The Healing Research Center located at 6300 Robinson Centre Drive in Pittsburgh, PA near the intersection of I-376 and Lincoln Highway.

The new affiliate storefront. which opened on Friday July 30, is the first dispensary in Western Pennsylvania with a four-lane drive-through.

It is also the 80th dispensary nationwide that Verano has launched in collaboration with its affiliates and it's the 12th in the state.

“With this flagship dispensary and the unique partnership with Drexel, we have the opportunity to help enhance the medical cannabis program in Pennsylvania, a core market for Verano and one of the largest in the country,” said George Archos, founder and CEO of Verano. “Research supports our vision of driving continuous improvement in patient care and experience.”

Based in Chicago, the company confirmed its intention to open an additional seven dispensaries across 11 states where it operates, including new shops in Florida and Nevada and two retail locations in the Keystone State via its associate Agronomed Biologics by the year-end.

In April, Verano acquired all of the issued and outstanding equity interests in Agronomed Holdings Inc. and Agri-Kind, LLC for $66 million in cash, $49.5 million in stock and a performance-based earnout of $31.5 million.

Green Thumb Industries Hits Milestone, Opens 60th Store Nationwide, Second In Virginia

Green Thumb Industries Inc. GTII GTBIF, the owner of Rise dispensaries, 

opened another store in Virginia on Monday, August 2.

The new retail location at 1634 W Main Street in Salem is the company’s second store in the Old Dominion and 60th in the country.

“We are excited to open the first Rise location in Virginia and our first store in a southeastern state,” Ben Kovler, GTI’s founder and CEO said. “As cannabis acceptance sweeps the country, we are honored to expand our retail footprint and to be the first medical cannabis dispensary in the Roanoke region.”

The Chicago-based company recently debuted in Virginia in May through the acquisition of Dharma Pharmaceuticals LLC.

High Tide Opens Canna Cabana Store In Milton, Ontario

Canadian cannabis retailer High Tide Inc. HITI HITI (FRA:2LYA) revealed on Tuesday that it is opening another Canna Cabana store at 1155 Maple Avenue in Milton, Ontario.

The new recreational marijuana shop is the company's 89th branded retail location in Canada and 21st in the province.

"I am very excited that Canna Cabana is now represented in Milton, which is one of Canada's fastest-growing communities," Raj Grover, president and CEO of High Tide said. "With pandemic restrictions now easing in Ontario, we have begun accelerating our pace of new store build-outs in Canada's largest province."

Shasta Management Opens Cannaffornia Cannabis Campus In Herber California

Californian development firm Shasta Management recently announced it's opening a new 100-acre vertically-integrated cannabis campus Cannaffornia along Yourman Road in Herber, California.

The project includes two phases, with phase 1 to begin in August with 18,000 square feet that will house two retail dispensaries and 10,000 square feet of consumption space. 

Phase 2 is expected to begin in late 2021 and will include a 4,500 square foot distribution center, 4,500 square feet of manufacturing space and 40,000 square feet of indoor and greenhouse cultivation space.

The two flagship dispensaries will be Northern California-based Queen of Dragons and The Other Guys, which will both feature California's most sought cannabis brands.

"The Queen of Dragons will follow our business model of showcasing high-quality products at an affordable price," Shasta Management CEO Tim Wright recently said. "But The Other Guys will be unlike any other dispensary sales concept out there; think "The Hunger Games" where only the strongest brands survive and the public decides who wins and who loses."

Photo: Courtesy of Photo by Add Weed on Unsplash