Verano Announces Restatement of First, Second and Third Quarter IFRS 2021 Unaudited Interim Financial Statements, Including Favorable Shareholders Equity Impact of $706,322

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) (“Verano” or the “Company”), a leading multi-state cannabis company, today announced that in connection with the audit of its 2021 full year financial statements prepared in accordance with U.S. GAAP, a change in consideration valuation resulted in a revaluation and reclassification of certain assets and liabilities realted to acquisitions. Accordingly, the Company is restating and refiling on SEDAR its first, second and third quarter 2021 unaudited interim financial statements prepared in accordance with IFRS. As a result, shareholders equity reflects a favorable increase of $706,322. There is no impact to previously audited financials from 2019 and 2020.

The Company will discuss this in further detail during the scheduled earnings conference call and audio webcast for the Company’s U.S. GAAP fourth quarter and full year 2021 financial results that will be held on April 27, 2022 at 8:30 a.m. ET / 7:30 a.m. CT.

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