Verano Shareholders Approve Corporate Home Relocation to Nevada

CHICAGO – Verano Holdings Corp. secured strong backing from investors to move its parent company’s legal base from British Columbia, Canada, to Nevada. The approval came during a special shareholder meeting, clearing a key hurdle in the company’s effort to align its structure more closely with its American operations.

The vote passed with broad support, reflecting confidence in the shift’s potential to sharpen Verano’s edge in a competitive field. Details from the meeting show the proposal drew affirmative votes from a clear majority, though exact tallies were not immediately disclosed. Verano, which operates retail banners like Zen Leaf and MÜV across 13 states, first floated the idea in mid-September, when its board greenlit the plan and called for the shareholder input.

Executives at Verano see the change as a practical step forward. With 158 dispensaries and 15 production sites, the company argues that a Nevada domicile would cut administrative red tape, ease access to domestic funding sources, and bolster board oversight under U.S. rules. Verano’s move, if completed, would place it alongside peers already incorporated in Delaware or other U.S. jurisdictions, potentially smoothing paths to broader investor pools.

Still, the process faces a few more gates. Verano must obtain a final order from the British Columbia Supreme Court and file paperwork with officials in both provinces and Nevada. An ongoing labor dispute at the British Columbia corporate registry could push the timeline, but the company targets a wrap-up in the weeks ahead. Once done, existing shares will convert one-for-one into Nevada-issued stock, with no disruption to trading on the Cboe Canada exchange under VRNO or OTCQX as VRNOF. Options and restricted units will adjust accordingly, and day-to-day business [from growing to sales] stays untouched.

From a numbers standpoint, the decision underscores Verano’s steady footing. Redomiciling carries no upfront financial hit, but analysts point to longer-term upsides. Nevada’s tax code and legal framework could trim effective rates by a few points over time, while signaling to U.S. institutions that Verano is all-in on domestic expansion. Risks remain, chiefly around execution delays or unforeseen regulatory snags, but the shareholder thumbs-up suggests those concerns take a back seat to the strategic fit.

For the Cannabis trade, this filing marks another sign of capital’s southward drift. As federal reviews on Cannabis classification drag into 2026, operators like Verano are betting that U.S.-centric setups will pay dividends when doors open wider. At Highly Capitalized Network-HCN, we view the approval as a measured play in an industry long on promise and short on patience, one that could set a template for others eyeing similar transitions.