Cannabis Giant, Verano, Joins Industry Peers In Reverse Stock Split Trend With 1-For-5 Consolidation

Cannabis multi-state operator Verano Holdings Corp. (Cboe CA: VRNO) (OTCQX: VRNO) said on Monday its board of directors approved a 1-for-5 reverse stock split. The move comes on the heels of yet another cannabis giant, Curaleaf Holdings, Inc. (TSX: CURA) (OTCQX: CURLF), announcing a 1-for-3 reverse stock split of its shares. That transaction will be effective on or about June 5.

What Happened

Verano’s reverse stock split will take effect around June 11, with every 5 existing shares being combined into 1 share. As a result, the total shares outstanding will decrease from roughly 364.4 million to approximately 72.9 million, according to the company’s press release.

The company’s stock will continue trading under the ticker VRNO on Cboe Canada and OTCQX.

Odyssey Trust Company, the company’s transfer agent, is acting as the exchange agent in connection with the transaction.

Why It Matters

The move will help Verano continue its path toward a major U.S. stock exchange listing, the company said.

George Archos, the company’s founder and CEO, called it “a prudent strategic measure” as it comes on the heels of the historic medical cannabis rescheduling announcement and in anticipation of prospective reforms.”

The Bigger Plan

The reverse stock split is part of a bigger plan, not an isolated technical move, Archos continued.

“The Reverse Stock Split marks another significant step forward for Verano and our future and builds on a series of strategic initiatives we’ve executed to position Verano ahead of growth and U.S. capital markets opportunities,” he said.

In late 2025, Verano completed the redomicile of its parent company from British Columbia, Canada, to Nevada, USA.

That was followed by continued expansion of its multi-state footprint in the first half of 2026, as well as its product line expansion.

Recently, the company revealed continued sequential revenue growth in the first quarter of fiscal 2026 and a $20M share repurchase program.

VRNO Price Action

Verano’s shares traded 2.50% lower at $1.17 per share at the time of writing on Tuesday.