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U.S. cannabis firm Verano goes public in Canada to aid growth


U.S. cannabis firm Verano goes public in Canada to aid growth
Tiffany Kary, Bloomberg News
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Cannabis operator Verano Holdings Corp. is poised to go public as a growing number of companies seek financing and weigh deals to capitalize on the sector’s rapid growth.
The Chicago-based company is scheduled to begin trading Wednesday on the Canadian Securities Exchange following a reverse merger with Alberta-based Majesta Minerals Inc. Some U.S. firms have tapped the Canadian markets as legal restrictions prevent cannabis companies from trading on domestic exchanges.
The public listing will help Verano pursue a strategy of acquisitive growth, according to Chief Executive Officer George Archos. The company said it’s already the third-largest multistate operator in the U.S. by revenue following a deal with another cannabis company, Alternative Medical Enterprises LLC, which operates in Arizona and Florida. ....

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