Owner Of Zen Leaf Shops In IL Soars On First Day Of Trading
The company completed a complex reverse merger last week
Verano Holdings began trading Wednesday on the Canadian Securities Exchange, becoming the third Chicago weed company to go public north of the border.
The company completed a complex reverse merger last week, raising $100 million through a subscription offering that valued Verano at $2.9 billion. The stock will trade under the ticker symbol VRNO.
The deal included a merger with a Florida-based cannabis company, Alternative Medical Enterprises, giving Verano a 14-state footprint with production facilities and retail dispensaries operating mostly under the Zen Leaf and MUV banners. MUV is the name of Alternative Medical Enterprises’ stores and product.
George Archos, 41, a co-founder and CEO of Verano, said going public will enable the company to continue to expand as more states legalize recreational marijuana.
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