Verano Consolidates Shares Ahead of U.S. Exchange Listing

CHICAGO – Verano Holdings Corp. announced that its Board of Directors has approved a 1-for-5 reverse stock split of the company’s common stock, with the consolidation expected to take effect on or about June 11, 2026.

The company believes the ratio of one post-consolidation share for each five pre-consolidation shares will advance Verano on its path toward listing its common stock on a major U.S. stock exchange. Verano currently has 364,381,806 shares of common stock outstanding. The reverse stock split will reduce that figure to approximately 72,876,361 shares. Industry observers note that several large Cannabis companies have pursued similar actions recently. For example, peer Curaleaf announced a 1-for-3 reverse stock split to support a possible U.S. exchange listing following Cannabis rescheduling developments.

The announcement is the latest in a series of deliberate structural moves the company has made to align itself with U.S. capital markets standards. In November 2025, Verano completed its redomicile from British Columbia, Canada, to the state of Nevada – a process approved by shareholders at a special meeting on October 27, 2025, and finalized when required filings were submitted to the Nevada Secretary of State on November 3, 2025.

Management has stated that the reverse stock split may provide additional benefits, including increasing institutional investor interest and access as the company pursues uplisting on a U.S. exchange in the future.

George Archos, Verano’s founder and CEO, framed the decision in the context of federal momentum. “On the heels of the historic medical cannabis rescheduling announcement and in anticipation of prospective reforms that may follow in the near future, the reverse stock split is a prudent strategic measure that prepares the Company for listing on a major U.S. exchange, which we believe is in the best interests of our employees and stockholders,” Archos said.

The timing of today’s announcement carries weight. For years, large MSOs have been effectively locked out of major U.S. exchanges due to Cannabis’s federal S I classification. The rescheduling to S III, combined with structural moves like redomiciling and share consolidation, signals that companies like Verano are actively building the infrastructure to act quickly if and when a listing window opens. No matter how long it takes, the groundwork is being laid in real time, and Verano is making sure it doesn’t get caught flat-footed.