Verano receives Texas conditional dispensing licence

Executive Summary

• Verano Holdings Corp. has been awarded a conditional dispensing organization license by the Texas Department of Public Safety, permitting the company to cultivate, process, and dispense medical cannabis in Texas.
• This license is part of the state's Phase 1 expansion process and is subject to final approval following further due diligence by the Texas Department of Public Safety.
• The approval marks a significant expansion for Verano, which currently operates in 13 states with 158 dispensaries and 15 cultivation/processing facilities.

Key Details

• License Type: Conditional dispensing organization license.
• Regulatory Body: Texas Department of Public Safety.
• Scope of Permission: Cultivation, processing, and dispensing of medical cannabis for Texas patients.
• Status: Conditional; subject to final approval after the Texas Department of Public Safety completes further due diligence.
• Current Operational Footprint:
  • Active in 13 U.S. states.
  • 158 Zen Leaf and MUV cannabis dispensaries.
  • 15 cultivation and processing facilities.
  • Over 1.1 million square feet of cultivation capacity.
• Strategic Context: Texas is the second-largest state by size and population; this move aligns with the expansion of the state's compassionate use program.

Notable Quotes

• "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.