Verano Approves 1-for-5 Split to 72.9M Shares; Trulieve Heads to NYSE
CMND•Verano Holdings approved a 1-for-5 reverse stock split, reducing shares from 364.4 million to 72.9 million to meet major U.S. exchange listing requirements. Trulieve Cannabis Corp. became the first U.S. operator to uplist to the NYSE with 206 dispensaries and 3.5 million square feet of production capacity.
1. Verano Executes Reverse Stock Split
Verano Holdings has approved a 1-for-5 reverse stock split effective around June 11, consolidating every five existing shares into one new share. This action reduces its outstanding share count from approximately 364.4 million to 72.9 million and aims to satisfy listing requirements for a major U.S. exchange.
2. Trulieve Uplists to NYSE
Trulieve Cannabis Corp. secured approval to list its subordinate voting shares on the New York Stock Exchange under the ticker TRLV, marking it as the first U.S. cannabis company on a major exchange. The operator runs 206 dispensaries and 3.5 million square feet of cultivation capacity and expects to expand its investor base and liquidity.
3. Psychedelic Sector Production Update
Optimi Health Corp. completed a GMP production run of 5mg psilocybin capsules at its British Columbia facility, bolstering supply for treatment-resistant depression patients in Australia and upcoming U.S. and European clinical trials. The vertically integrated process under Health Canada licensure enhances quality control from biomass cultivation through packaging.
