EXCLUSIVE: Cannabis Tipping Point, Verano CEO Weighs In On HHS Rescheduling Proposal

"This is a big moment for us," says George Archos, CEO of Verano Holdings Corp VRNOVRNOF, in light of the recent announcement where the Department of Health and Human Services (HHS) recommended the Drug Enforcement Administration (DEA) to reclassify cannabis from a Schedule I to a Schedule III substance.

The monumental recommendation by HHS could transform the landscape of the cannabis industry.

Benzinga’s cannabis editor Maureen Meehan interviewed Archos to gauge the pulse of the industry. "Something we've been waiting for. When President Biden ordered something here, we thought it would take a really long amount of time. But this is a big positive moment for cannabis as an industry as a whole."

Want to talk with the team of this leading, vertically integrated, U.S. multi-state cannabis company? Darren Weiss Verano’s president and Aaron Miles CIO at the company will participate as featured speakers at the upcoming Benzinga Cannabis Capital Conference in Chicago. Mark your calendar for September 27 and 28.

Related Content: EXCLUSIVE: End Of Weed Prohibition? Fmr Sen Cory Gardner Discusses Potential Cannabis Reclassification

Potential DEA Reschedule: Catalyst for Cannabis' Financial Boom?

Verano, a leading name in the industry, echoed the sentiments of many as Archos recounted the cheer in their corporate office when the news came down, calling it a moment that everyone had been anticipating. "This rescheduling could mean big things for the entire industry. For HHS to recommend to the DEA to make this happen is monumental for us. And we view it as a big positive step forward for all of us. And hopefully, it happens quickly. Been a long time," Archos said.

While the industry has faced its fair share of challenges and letdowns, this development feels different, believes Meehan. She touched on the industry's winding road and the importance of upcoming events like the Benzinga Cannabis Capital Conference in Chicago, IL.

"It's really nice to have it on the heels of this type of event. This is an opportunity to reengage new investors and others that are just being introduced to cannabis," Archos said.

He. elaborated on the importance of such platforms. "We get to go out and talk about our company, the positive benefits of cannabis, and what we're doing on a daily basis."

He went on to highlight how the potential rescheduling could revolutionize the cannabis industry, especially for social equity entrepreneurs who have been in limbo.

Related Content: Social Equity Stories In Cannabis: Advocates Discuss Inclusion As Legislative Changes Loom

As Meehan aptly put it, the conference will be buzzing with this news, as everyone waits in anticipation for the next move. To delve deeper into this paradigm shift and to be a part of this transformative journey, consider joining us at the upcoming Benzinga Cannabis Capital Conference in Chicago on September 27-28. All information is available at bzcannabis.com

Image by Benzinga