Verano Completes Filing of June 30, 2022 Quarterly Report and Restated Financial Statements

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) (“Verano” or the “Company”), a leading multi-state cannabis company, today filed its Quarterly Report on Form 10-Q for the second quarter ended June 30, 2022 (the “Form 10-Q”) with the U.S. Securities and Exchange Commission (the “SEC”) and in Canada on the System for Electronic Document Analysis and Retrieval (“SEDAR”). The Company also has completed the filing of the restatments of its financial statements and associated management discussion and analysis as previously announced on July 27, 2022. The Company’s restated financial statements are set forth below.

 1.Amended and Restated Unaudited Condensed Interim Consolidated Financial Statements for the Quarter Ended March 31, 2021, filed on SEDAR;
 2.Amended and Restated Unaudited Condensed Interim Consolidated Financial Statements for the Quarter Ended June 30, 2021, filed on SEDAR;
 3.Amended and Restated Unaudited Condensed Interim Consolidated Financial Statements for the Quarter Ended September 30, 2021, filed on SEDAR;
 4.Amended and Restated Unaudited Condensed Interim Consolidated Financial Statements for the Quarter Ended March 31, 2022, set forth in the Company’s Amendment No. 2 to Registration Statement on Form 10 filed with the SEC (the “Amended Form 10”) and filed on SEDAR; and
 5.Audited Consolidated Financial Statements for the Year Ended December 31, 2021, set forth in the Amended Form 10 and filed on SEDAR.

These financial statements were amended and restated to correct stock compensation expense, tax expense, consolidated entity distributions, and acquisition earnouts. There were no material impacts on total assets or liabilities in any of the periods, but the amendments did result in a reduction in the Company’s tax obligation. The results of these restatements are available via the Company’s public filings with the SEC and on SEDAR.

Additionally, the Company filed the Form 10-Q with the SEC following the completion of a review by the Company’s external auditor, which Form 10-Q contained the Company’s Quarter Ended June 30, 2022 financials.

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