George Archos Reports Holdings in Verano Holdings Corp.

TORONTO, Feb. 12, 2021 (GLOBE NEWSWIRE) — George Archos (the “Acquiror”), the Chairman, CEO and a director of Verano Holdings Corp. (“Verano”), has ownership of 14,226,545.0366 subordinate voting shares of Verano (“SV Shares”), representing 11.32% of the issued and outstanding SV Shares, and 426,796.3508 proportionate voting shares of Verano (“PV Shares”) representing 25.79% of the issued and outstanding PV Shares held directly and indirectly through Copperstone Trust, 3PLGK, LLC, Archos Capital Group, LLC and GP Management Group, LLC (the “Related Entities”). On an as-converted basis, George Archos holds 19.62% of the issued and outstanding SV Shares of Verano. This is the initial report filed under the early warning reporting rules by the Acquiror following the closing of Verano’s reverse take-over going public transaction (the “RTO”). Prior to the RTO, the Acquiror did not have any SV Shares or PV Shares.

None of the Acquiror or the Related Entities has any current plans or future intentions which relate to or would result in any of the events, transactions or circumstances enumerated in paragraphs (a) – (k) in the early warning report filed with the press release (the “Early Warning Report”).

In accordance with applicable securities laws, the Acquiror or the Related Entities may, from time to time and at any time, acquire additional SV Shares, PV Shares and/or other equity, debt or other securities or instruments (collectively, “Securities”) of Verano in the open market or otherwise, and Acquiror and Verano reserve the right to dispose of any or all of its Securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the Securities, the whole depending on market conditions, the business and prospects of Verano and other relevant factors.

The head office of Verano is 415 North Dearborn Street, 4th Floor, Chicago, Illinois 60654.

For further information please refer to the Early Warning Report to be posted on Verano’s SEDAR profile at www.sedar.com or which may be obtained by contacting the Acquiror at 312-265-0730.