CHICAGO, March 1, 2022 – PRESS RELEASE – Verano Holdings Corp., a leading multistate cannabis company, announced it has drawn an additional $100 million under its existing credit agreement pursuant to a fourth amendment to such credit agreement, to fund expansion and strategic growth initiatives, per its previous announcement on Feb. 1, 2022, at a non-dilutive interest rate of 8.5%.

As part of such amendment to its credit agreement, funding for up to an additional $175 million at a future date was added, which lending commitment is subject to final agreement and conditions with the company’s lenders. Chicago Atlantic Advisors LLC is the lead administrative agent and collateral agent, with participation from AFC Gamma Inc.