Verano To Repurchase Up To $50M Of Its Shares Trading On Cboe Canada
Verano Holdings Corp. (Cboe CA: VRNO) (OTCQX:VRNOF) announced Monday that its board of directors has authorized the repurchase of up to $50 million of the company’s class A subordinate voting shares which are listed for trading on Cboe Canada.
“Our longstanding commitment to operational excellence alongside our focus on capital discipline has set up Verano to generate consistent revenue growth, deliver strong margins, and produce leading cash flows,” said George Archos, Verano chairman and CEO. “The authorization of our first-ever share repurchase program provides an additional outlet for capital deployment alongside other measures such as capital expenditures, strengthening our balance sheet, and potential M&A as we position Verano for long-term growth and success. Going forward, we will be opportunistic in identifying market dislocations to support the stock and return cash to shareholders.”
Under the normal course issuer bid, the multi-state operator (MSO may buy up to a total of 17.32 million shares …