CHICAGO, Nov.
Caring Nature owns an active dispensary in Waterbury, CT; Connecticut Pharmaceutical Solutions owns an operating cultivation and production facility in Rocky Hill, CT; and Willow Brook Wellness holds an active dispensary in Meriden, CT.
The transaction to acquire 100% of the equity interests of Willow Brook Wellness, LLC, includes one active dispensary in Meriden, Connecticut.
The transaction to acquire 100% of the equity interests of Caring Nature, LLC, includes one active dispensary in Waterbury, Connecticut.
Aggregate proceeds for the transaction include US$113,250,000 in subordinate voting shares of the Company upon the consummation of the transaction, US$18,500,000 in subordinate voting shares of the Company upon the first adult-use sale of cannabis in Connecticut, and additional subordinate voting shares based on achieving 2021 EBITDA performance milestones.
Closing of the Caring Nature, LLC and Connecticut Pharmaceutical Solutions, Inc.
With a mission to address vital health and wellness needs, Verano produces a comprehensive suite of premium, innovative cannabis products sold under its trusted portfolio of consumer brands, including Verano™, Avexia™, Encore™, and MÜV™.