Verano Holdings announces shareholder approval to redomicile parent company

Verano Holdings (VRNOF) announced that the plan the Company previously outlined to redomicile Verano Holdings Corp. from British Columbia, Canada, to the State of Nevada was approved by shareholders at the Company’s Special Meeting of Shareholders held on October 27. Completing the redomicile requires the British Columbia Supreme Court to issue a Final Order, along with additional required filings in both British Columbia and Nevada. Due to an employee strike at the British Columbia Registrar of Companies, the Company cannot provide a definitive date on when the completion will occur, but the Company plans to finalize the redomicile as expediently as possible. Pursuant to the Company’s plan of arrangement, at the effective time, Verano will continue from the jurisdiction of British Columbia, Canada to the jurisdiction of the State of Nevada. Upon completion of the Continuance, the issued and outstanding subordinate voting shares of the British Columbia-formed Verano Holdings Corp. will automatically be exchanged on a one-for-one basis for shares of common stock of the continued Verano Holdings Corp. domiciled in Nevada. Each of the Company’s outstanding stock options and restricted stock units will be deemed to be adjusted pursuant to the terms of the Company’s Stock and Equity Incentive Plan and became a stock option and a restricted stock unit to receive an equal number of shares of Nevada Common Stock, respectively.