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Verano Holdings宣布达成与AltMed在佛罗里达州和亚利桑那州合并并合并运营的协议,从而创建了美国最大的私人大麻公司之一

芝加哥和佛罗里达州萨拉索塔,2020年11月11日(全球新闻)-新闻稿- 多州大麻拥有者,运营商和经理 Verano Holdings,LLC 已宣布签署一项最终合并协议,以收购和合并与 Alternative Medical Enterprises,LLC ,Ruskin,LLC的工厂以及关联公司(统称AltMed),将制药行业标准应用于在佛罗里达州开发,种植,生产和分发医用大麻及医用大麻产品的垂直整合大麻公司进行合作亚利桑那。 预计该交易将使Verano和AltMed的合并产生高度的合并,从而使合并后的公司以Verano的名义运营。

两位行业领袖齐心协力

Verano是大麻种植,制造和配药许可证的多州所有者,开发商,运营商和经理,为眼光敏锐的高端客户市场提供创新产品。 Verano生产全套以其消费者品牌出售的高级手工大麻产品,包括Encore Edibles,Avexia和Verano。 Verano的Zen Leaf品牌药房环境可在医疗和成人市场中提供较高的大麻购物体验。 Verano活跃于美国的12个州,拥有17个活跃的零售地点,约有440,000平方英尺的种植设施,自成立以来每年都在盈利。

AltMed, founded in 2014 and profitable in recent years, is a fully-integrated medical cannabis company known for its robust research and development pipeline exemplified by its award-winning MÜV products and dispensaries. AltMed offers a full range of premium cannabis options developed in its vertically-integrated operations in Arizona and Florida. With 27 active retail locations, AltMed has 220,000 square feet of cultivation facilities in Florida, and 30,000 square feet in Arizona, which is rapidly expanding by an additional 50,000 square feet to meet increased demand.

This transformative transaction is expected to create a market leader in the United States by combining two profitable, fully-integrated platforms with the ability to scale by entering new markets and expanding deeper into existing key markets. The combination will accelerate Verano’s expansion into Florida and Arizona, currently among the largest and fastest-growing cannabis markets in the United States. Following the consummation of the transaction, the combined group of companies will operate under the Verano name and will have the ability to operate in 14 states, with eight cultivation facilities and 44 active retail locations. Approximately 32 additional retail locations are planned.

Expected Benefits of Planned Transformative Combination

The combination is expected to result in substantial benefits to AltMed and Verano, including the following reasons for the transaction.

  • Establishes Verano as one of the three largest MSOs in the United States based on 2021 internal projections compared to current FactSet 2021 consensus estimates for revenue and EBITDA.
  • Creates a scale market leader well positioned for growth and accelerates expansion in limited license, high-growth markets – specifically Florida and Arizona.
  • Includes a premium, comprehensive product offering encompassing both medically-focused and lifestyle. Four product brands: Verano, Avexia, Encore, and MÜV; and two retail brands: Zen Leaf and MÜV.
  • Joins companies with aligned cultures, management teams, and core competencies of people, processes, research, and products.
  • Increases Verano’s reputation as a manufacturer of high-quality products on a large scale by adding similar capabilities in new states.
  • Enhances both companies’ abilities to provide a superior, patient and customer-focused cannabis experience.
  • Combines experienced management teams with significant and diverse industry expertise including pharmaceutical, real estate, manufacturing, agriculture and hospitality, with a proven track record as disciplined cannabis industry operators and good stewards of capital.
  • Increases the combined company’s financial profile with industry-leading margins and profitability.

“The combination of Verano and AltMed is a game changer in the U.S. cannabis industry. It is expected to create one of the largest private cannabis companies with truly no redundancies in geography or operations. AltMed is an ideal partner to accelerate our shared vision to be one of the most innovative and profitable cannabis operators in the country. Our cultures are seamlessly aligned and we have a strong commitment to providing a superior, customer-focused cannabis experience across our existing markets. AltMed not only has a substantial market presence in Florida and Arizona, a state which recently approved recreational use, but also delivers a portfolio of high-quality, pharmaceutical-grade medical cannabis products,” said George Archos, founder and CEO of Verano Holdings. “Together, we believe we have a very strong management team whose experience spans cannabis, pharma, real estate and hospitality, and we are very excited to welcome and work collectively with AltMed’s Michael Smullen, Bill Petron and John Tipton.”

Archos continued, “This combination will create significant opportunity to expand our business into limited-license markets and scale both our wholesale and retail operations. We have created a thoughtful model for long-term success and a solid platform to deliver what we expect to be industry-leading EBITDA margin on a pro forma basis. In addition, our combined strong balance sheet should provide us with financial flexibility to expand operations and go deeper in states in which we operate.”

“We share Verano’s enthusiasm for this transformative business combination. We have a mutual commitment to delivering a high-quality product through a superior customer experience to distinguish us in the marketplace,” said Michael Smullen, chairman, CEO and co-founder of AltMed’s Alternative Medical Enterprises, LLC. “We are both disciplined stewards of capital, run our businesses efficiently and are focused on delivering profitable growth. It was important for us to find the right strategic partner and Verano was the ideal choice.”

“Through our combination with Verano, we will have economies of scale to further expand our operations, bring adult-use programs online and scale cultivation and manufacturing capacity to meet market demand,” said John Tipton, CEO of AltMed Florida. “Both Verano and AltMed are uncompromisingly dedicated to superb cultivation and manufacturing processes, new product development and retail design and engagement. In combining with a multi-state operator, we have a larger platform to meet the growing needs of our customers and deliver long-term profitable growth for our stakeholders.”

Management Details

合并后的公司将由Verano的创始人兼首席执行官Archos领导,Verano是物流和运营领域的资深人士,他于2014年进入大麻行业。AltMed的主要人员将在管理团队和董事会中保持强大的影响力包括Alternative Medical Enterprises,LLC的董事长,首席执行官和联合创始人Michael Smullen,以及注册的CPA Tipton,在农业和土地开发行业拥有30多年的领导经验。 此外,AltMed Arizona的Bill Petron将把他的丰富经验带到新成立的公司。

信标证券有限公司担任AltMed的财务顾问。

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