Verano, a multi-state cannabis company, today announced that the company’s board approved a proposed plan to redomicile Verano from British Columbia, Canada to the State of Nevada.
Verano believes that redomiciling in the United States better aligns with its U.S.-based business and operations and streamlines its organizational and regulatory structure within the U.S.
“Since inception and our 2021 go-public transaction, we’ve focused on ways to unlock shareholder value and create potential catalysts for the business, including enhancements to our corporate structure and executing a capital markets strategy that positions Verano to capitalize on near and long-term growth opportunities,” said CEO George Archos. “From our 2023 strategic decision to list company shares on Cboe Canada, a senior U.S.-based exchange with global operations, to our redomiciling in the U.S. as a newly-registered Nevada enterprise, we are prepared to leverage opportunities that benefit the company and our shareholders.”
The company’s plan to redomicile Verano in the U.S. is not expected to materially impact its existing manufacturing and retail business spanning 13 U.S. states, including the location of its corporate headquarters in Chicago, Illinois.
