- The accretive transaction brings the Company’s Ohio retail footprint to five dispensaries, the maximum permitted in the state.
- The addition of the Mad River Remedies dispensary provides coverage of the Dayton metropolitan area which has a population of nearly 800,000.
- The dispensary location is in close proximity to both the University of Dayton and Wright State University campus communities.
Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) (“Verano” or the “Company”), a leading multi-state cannabis company, today announced it has closed its acquisition of Mad River Remedies, LLC, a highly productive dispensary in Dayton, Ohio.
With the closing of this transaction the Company now operates five dispensaries across Ohio, the maximum permitted in the state, with existing retail storefronts in Bowling Green, Canton, Cincinnati, and Newark.
“Over the course of the last year, Ohio developed into a core market for us, and we’re pleased to gain coverage of the substantial Dayton market through this acquisition of Mad River Remedies,” said George Archos, Verano Founder and CEO. “The dispensary is located just a few miles from the busy and beautiful downtown Dayton area, in the Riverside community, and is positioned across the street from the National Museum of the US Air Force. Ohio’s burgeoning medical cannabis market provides an opportunity for us to leverage our proven, vertically integrated model, enabling revenue growth while serving the considerable patient community.”
The Company’s comprehensive offering of premium medical cannabis products, sold under the Verano™, Avexia™, and Encore™ brands, are available to registered Ohio patients through its own five store footprint and more than 40 other licensed retailers across the state.