Mr. George Archos reports

VERANO AWARDED CONDITIONAL LICENSE TO COMMENCE VERTICAL CANNABIS OPERATIONS IN TEXAS

The Texas Department of Public Safety has awarded Verano Holdings Corp. a conditional dispensing organization licence as part of the state's phase 1 expansion process. Subject to final approval by the Texas Department of Public Safety after it completes further due diligence, the licence grants Verano permission to cultivate, process and dispense medical cannabis for Texas patients. Verano's current operations span 13 states, composed of 158 Zen Leaf and MUV cannabis dispensaries, and 15 cultivation and processing facilities with over 1.1 million square feet of cultivation capacity.

"We are thrilled to receive a conditional dispensing organization licence by the Texas Department of Public Safety, putting Verano one step closer to cultivating, processing and dispensing our extensive variety of high-quality medical cannabis products for Texas patients," said George Archos, Verano founder and chief executive officer. "As the second-largest state by size and population, Texas's medical cannabis program expansion marks a significant step forward for legal cannabis in the U.S., joining a growing number of states and an overwhelming majority of Americans that have embraced the regulated cannabis sector as a job creator and provider of health and wellness benefits for millions every day. Building on our medical cannabis roots and deep experience across the country, we look forward to rolling up our sleeves and getting to work providing safe, high-quality, Texas-grown cannabis for patients statewide, while creating jobs and economic opportunities that support America's next great industry in the lone star state."

Founded in 2014 as a medical cannabis company, Verano plans to leverage its extensive experience establishing a number of major medical markets across the country and work with all stakeholders to contribute to the successful expansion of the state's compassionate use program. Subject to final state approval to commence medical cannabis cultivation, processing and dispensing operations across the state, Verano looks forward to offering its award-winning variety of medical cannabis products to support the health and wellness of Texas patients.

About Verano Holdings Corp.

Verano, one of the U.S. cannabis industry's leading companies based on historical revenue, geographic scope and brand performance, is a vertically integrated, multistate operator embracing a mission of saying yes to plant progress and the bold exploration of cannabis. Verano provides a superior cannabis shopping experience in medical and adult use markets under the Zen Leaf and MUV dispensary banners, including Cabbage Club, an innovative annual membership program offering exclusive benefits for cannabis consumers. Verano produces a comprehensive suite of high-quality, regulated cannabis products sold under its diverse portfolio of trusted consumer brands including Verano, (the) Essence, MUV, Savvy, Bits, Encore and Avexia. Verano's active operations span 13 U.S. states, composed of 15 production facilities with over 1.1 million square feet of cultivation capacity.

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