Verano closes $105M acquisition of Cannabist's Virginia and Arizona assets

Verano Holdings Corp.

Total consideration for Virginia subsidiary was $90M: $20M cash, $40M in Verano shares, $30M promissory note at 7% interest.
Arizona operations acquired for $15M in cash; adds cultivation facilities and two dispensaries (Tempe, Prescott).
Verano becomes exclusive operator in HSA 5 in Eastern Virginia (2M residents, 14M annual tourists) with 6 dispensaries.
Deal expands Verano's footprint to 14 states, 15 cultivation/production facilities, and 150 dispensaries nationwide.
Promissory note matures in two years; monthly payments of $1.75M for first 12 months, then $750K.

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