Verano Announces Closing of Agri-Kind, Agronomed Transactions

  • The Company closes on transactions for the equity interests in two licensees—Agri-Kind, LLC, and Agronomed Biologics, LLC—with cultivation, production, and retail operations in Pennsylvania. The limited license state is the nation’s fifth most populous with over 500,000 participants in the medical marijuana program.
  • Agri-Kind operates one active 62,000 sq. ft. indoor cultivation and production facility in Chester, PA.
  • Agronomed is currently building out a cultivation and production facility in Chester, and is permitted to open six additional dispensaries in the state.

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) (the “Company”), a leading multi-state cannabis company, today announced the closing of its previously announced (on April 22, 2021) transactions for all of the issued and outstanding equity interests in Agri-Kind, LLC, Agronomed Holdings Inc. and Agronomed Biologics, LLC.

Transaction Highlights

  • The transaction includes the equity interests in two companies with cultivation and production licenses—one active 62,000 sq. ft. indoor facility plus a second cultivation and production facility that is currently under construction.
  • Agronomed also has a permit to add six dispensaries in Pennsylvania, the first of which already opened in Chester last month. The second dispensary location, in Pittsburgh, is scheduled to open in late-July, and the remaining four locations are in development.
  • Through its clinical registrant dispensary operation (The Healing Research Center), Agronomed is partnered with Drexel University College of Medicine to conduct on-going medical marijuana research.
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