Verano Holdings Is Left Out Of Alabama's Ever-Shifting Medical Marijuana Licensing Process
Portfolio Pulse from Jelena Martinovic
Verano Holdings Corp. (CSE:VRNO) (OTCQX:VRNOF) has lost its chance to get a share of the Alabama medical cannabis market after the state's cannabis regulator reissued licenses. Verano, which had secured a highly sought-after Integrated Facility License in June, was not included in the renewed licenses. The company has expressed disappointment and frustration, claiming it had the highest score of any applicant and will pursue all options to defend its license, including legal remedies.
August 11, 2023 | 5:21 pm
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Verano Holdings Corp. has lost its chance to participate in the Alabama medical cannabis market, which could negatively impact its growth prospects.
Verano Holdings Corp. had secured a highly sought-after Integrated Facility License in Alabama, which would have allowed it to operate in the state's medical cannabis market. However, the company was not included in the reissued licenses, which could limit its growth prospects and negatively impact its stock price.
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IMPORTANCE 80
RELEVANCE 100