Verano Confirms Filing of Reviewed First Quarter 2022 Financials - Yahoo Finance | Florida Dispensaries

Verano Confirms Filing of Reviewed First Quarter 2022 Financials – Yahoo Finance

Verano Holdings Corp.

CHICAGO, June 22, 2022 (GLOBE NEWSWIRE) — Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) (“Verano” or the “Company”), a leading multi-state cannabis company, today is confirming that on June 17, 2022 it filed its first quarter 2022 financial statements on SEDAR that have been reviewed by its outside auditor, which replace the previously filed first quarter 2022 financial statements filed on SEDAR on May 25, 2022. The reviewed 2022 first quarter financial statements were also included in the Company’s amended Form 10 registration statement filed concurrently with the U.S. Securities and Exchange Commission.

Based on the reviewed 2022 first quarter reviewed financial statements, the Company is clarifying that the non-GAAP financial measure Free Cash Flow1 of $6 million disclosed in its May 25, 2022 earnings release included approximately $20 million of cash flow from investments. In addition, although its previously disclosed non-GAAP financial measure Adjusted EBITDA2 remained unchanged at $81 million, a reconciliation line item has been modified to reflect a currency exchange difference in “other income (expense), net.” The calculations of Free Cash Flow1 and Adjusted EBITDA2 and their reconciliation to the most comparable U.S. GAAP financial metrics are included in the tables below.

Corresponding changes to cash provided

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