Verano acquires Cannabist's Virginia and Arizona operations for $105M total

Verano Holdings Corp.

Virginia ops: 1 cultivation, 6 dispensaries; $90M consideration ($20M cash, $40M shares, $30M note).
Arizona ops: 1 cultivation, 1 production, 2 dispensaries; $15M cash consideration.
Verano becomes sole cannabis operator for Health Service Area 5 in Eastern Virginia (~2M residents).
Post-close: Verano in 14 states with 150 dispensaries and 15 cultivation/production facilities.
Acquisitions subject to regulatory approvals; expected to close pending conditions.

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