Verano Announces Opening of Zen Leaf Charleston in Central Illinois


Third Zen Leaf Dispensary to Open in Illinois

CHICAGO, Ill, Dec. 11, 2020 (GLOBE NEWSWIRE) -- Verano, a leading multi-state cannabis company, announces that its Zen Leaf dispensary has opened at 909 Lincoln Ave. in Charleston in central Illinois. This is the third Zen Leaf dispensary to open in Illinois, with additional locations currently under construction.

"Zen Leaf prides itself on providing safe, legal access to the health, wellness and happiness cannabis provides, and our Charleston dispensary will provide this portion of the state with access to high-quality, regulated cannabis products," said George Archos, founder, chairman and CEO of both Verano and Zen Leaf. "We're grateful that Charleston provided an opportunity for us to invest, create jobs and generate new tax revenue that can be reinvested in the community. The Illinois cannabis market is one of the fastest growing in the country, and Zen Leaf Charleston will be an anchor retail destination for sought-after Verano products and other cannabis offerings."

Charleston is known for its educational and performing arts venues, public art, and outdoor recreation. The city is also the county seat of Coles County. The new dispensary offers a wide range of cannabis products including concentrates, edibles, vaporizers, and flower. Customers can also order online at www.zenleafdispensaries.com with same day, in-store pick up.

The dispensary has created 30 jobs in the community, and more than half of employees are female. Company officials expect sales to generate more than $600,000 in new tax revenue locally.

Since adult-use cannabis became legal in Illinois on Jan. 1, 2020, the state has seen explosive growth in the market. Through November 2020, medical and adult-use sales have topped $917 million in combined sales, according to state regulators, and are on pace to top $1 billion this year. As dispensaries and products continue to be added, state and industry officials expect the market to continue to rapidly grow.

Zen Leaf Charleston will be open 9 AM to 9 PM Monday to Thursday, 9 AM to 10 PM on Friday and Saturday, and 10 AM to 6 PM on Sunday. The dispensary is an adult-use location.

Zen Leaf Charleston is Verano’s nineteenth operational dispensary in its national portfolio to begin retail sales of medical or adult-use cannabis. Zen Leaf is a proprietary brand of dispensaries operated by Verano’s subsidiaries and affiliates, who also hold a variety of cultivation, processing, and dispensary licenses in twelve states.

Verano anticipates rapidly expanding the Zen Leaf brand over the coming months in Illinois with several additional planned flagship retail locations throughout the state. This includes the opening of Zen Leaf dispensaries at 1516 N. Naper Blvd. in Naperville, in addition to three dispensaries set to open at strategic locations throughout the Chicago suburbs in 2021.

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About Verano: Verano is a leading vertically-integrated multi-state cannabis operator in the U.S. An operator of licensed cannabis cultivation, processing and retail facilities, Verano is devoted to the ongoing development of communal wellness by providing responsible access to regulated cannabis products to the discerning high-end customer. Active in 12 U.S. states, with 19 active retail locations and approximately 440,000 square feet across its cultivation facilities, Verano has been profitable since it was founded. Verano produces a full suite of premium, artisanal cannabis products sold under its trusted portfolio of consumer brands: Encore, Avexia and Verano. Verano designs, builds and operates inimitable Zen Leaf branded dispensary environments that deliver a superior cannabis shopping experience in both medical and adult-use markets. Learn more at http://verano.holdings

Contacts:

Investors:
Verano
Aaron Miles
Head of Investor Relations
aaron@verano.holdings

Media:
Verano
David Spreckman
Sr. Director, Corporate Communications & Retail Marketing
david@verano.holdings

Financial Profiles
Debbie Douglas
ddouglas@finprofiles.com
949-375-3436