Nevada Cannabis Trends.
In the month of January, Nevada recorded ~$67M in cannabis sales, which represents a sequential decline of 3.9% and a YoY increase of 5%. Unit volumes in the month were down 5.7% sequentially but is up 22.6% YoY. The average price per unit was up 1.9% sequentially and down 14.4% YoY.
Cresco OPENS 57th Location.
Cresco Labs (CRLBF) announced its retail footprint grew to 57 locations nationwide, with today’s Sunnyside opening in Erie, PA. Sunnyside Erie, located at 7851 Peach St., marks the Company’s 11th dispensary in the state. “We’re thrilled to build on our retail and wholesale success in Pennsylvania by expanding the Sunnyside brand in northern Pennsylvania,” said Charles Bachtell, Cresco Labs’ CEO & Co-Founder. “We’ve maintained our position in the state as the number one branded portfolio chosen by medical patients for all of 2022. With licenses to open four additional stores, we’ll continue to go deep in Pennsylvania to increase patient access to our top-quality products.”
Verano Loses Board Member To Alcohol.
Verano Holdings (VRNOF) announced that Ed Brown has stepped down from its Board of Directors to return to the alcohol industry. “We are so grateful to have had Ed’s expertise on Verano’s Board of Directors and Audit and CompensationCommittees,” said George Archos, CEO, and Founder. “During his tenure, he played a pivotal role in developing and executing our long-term growth strategy, which included going public, accelerating our expansion efforts, and positioning the Company ahead of future opportunities. We thank him for his contributions and wish him well in his future endeavors.” Mr. Brown stated, “It was a bittersweet decision for me to leave Verano’s Board. I was honored to have worked with what I believe is the best team in the industry, and am proud of what the Company has accomplished to date. Although I will be pursuing my passion as an entrepreneur in the alcohol industry, I am confident that I am leaving Verano in a strong position to continue to grow in this fast-moving sector. George and his team have built an incredible company, and I look forward to cheering them on.”
