Verano Strengthens Connecticut Retail Footprint with the Opening of Zen Leaf Naugatuck, the Company’s Third Social Equity Joint Venture Location and Fifth Dispensary Statewide

• Situated in Naugatuck, a borough south of Connecticut’s capital with more than 31,000 residents¹, Zen Leaf Naugatuck is the third of six planned social equity joint venture dispensaries the Company expects to open across the state, with 20 new team members hired locally
• Zen Leaf Naugatuck serves both medical patients and adult use customers, joining Verano’s existing vertical Connecticut operations that include Zen Leaf dispensaries in Meriden, Newington, Norwich and Waterbury; and CTPharma, a state-of-the-art 217,000 square foot cultivation and processing facility in Rocky Hill
• The dispensary is located at 585 South Main Street, a thoroughfare with an average daily traffic count of 14,900 vehicles²
• Verano’s active operations span 13 states, comprised of 139 dispensaries and 14 cultivation and processing facilities with more than 1 million square feet of cultivation capacity

CHICAGO, May 02, 2024 (GLOBE NEWSWIRE) -- Verano Holdings Corp. (Cboe CA: VRNO) (OTCQX: VRNOF) (“Verano” or the “Company”), a leading multi-state cannabis company, today announced the grand opening of Zen Leaf Naugatuck, the Company’s third social equity joint venture location in Connecticut and fifth cannabis dispensary statewide. Zen Leaf Naugatuck will host a grand opening on Friday, May 3^rd, featuring a ceremonial ribbon cutting with the Waterbury Area Chamber of Commerce at 11 a.m. local time. Located at 585 South Main Street, Zen Leaf Naugatuck will be open Monday through Saturday from 9 a.m. to 9 p.m. and Sunday from 10 a.m. to 6 p.m.

In opening Zen Leaf Naugatuck, Verano received support for the Company’s approved social equity plan from several local community organizations, including the Brass City Gamers Tournament, Rivera Memorial Foundation, The UnGroup Society and the Waterbury Opportunities Industrialization Center, Inc. Through these community partnerships, Zen Leaf will directly fund area youth education initiatives, including:

• LifeLaunch Waterbury: an innovative 12-week e-learning curriculum for teens and young adults in Waterbury that teaches a broad range of life skills and financial literacy.
• STEM Training and Laptop Donations: in partnership with Waterbury-based Brass City Gamers, Zen Leaf will sponsor an 8-week STEM certified course and provide the first 10 graduates of the program with new Acer coding laptops, enabling local youth to continue pursuing STEM education goals.

“We’re thrilled to open Zen Leaf Naugatuck as we strengthen our roots and deepen our commitment to supporting local communities and the equitable growth of the cannabis industry across Connecticut,” said George Archos, Verano founder and Chief Executive Officer. “We’re grateful to deliver local contributions in the form of job creation, economic development, and social equity partnerships to drive positive change and counter failed anti-cannabis policies that have adversely affected countless communities across Connecticut, and the nation, for decades. Opening Zen Leaf Naugatuck marks the culmination of collaborative efforts with many stakeholders, and I’d like to thank state officials, our team members, customers, patients and local social equity partners for their support in bringing Zen Leaf to the Naugatuck community.”