Verano Draws US$100 Million to Fund Strategic Growth Initiatives, and Adds an Option for Up to an Additional US$175 Million

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) (“Verano” or the “Company”), a leading multi-state cannabis company, today announced it has drawn an additional US$100 million under its existing credit agreement pursuant to a fourth amendment to such credit agreement, to fund expansion and strategic growth initiatives, per its previous announcement on February 1, 2022, at a non-dilutive interest rate of 8.50%. As part of such amendment to its credit agreement, funding for up to an additional US$175 million at a future date was added, which lending commitment is subject to final agreement and conditions with the Company’s lenders. Chicago Atlantic Advisors, LLC (“Chicago Atlantic”) is the lead administrative agent and collateral agent, with participation from AFC Gamma, Inc. (“AFC Gamma”).