“The Department has not approved any transactions that would cause a person or entity to exceed the license limitations set forth in the Act,” spokesman Chris Slaby said. Representatives for GreenGate and Verano wouldn’t comment on the apparent deal or whether it also includes GreenGate’s current dispensary in Chicago.Ī Verano spokesman would only say the company’s Zen Leaf dispensary chain “has licensing agreements in place with some dispensary owners.” State records show the Lombard dispensary is a planned Zen Leaf location.Īsked about the issue, a spokesman for the Illinois Department of Financial and Professional Regulation said the agency checks to see whether individuals or entities “would be in excess of the licenses limitations” before approving any management agreements or permit transfers. That license is for a planned recreational-only dispensary in Lombard. After Verano’s recent buying spree, the company now has a stake in the maximum 10 dispensaries.īut state records appear to show that Verano is also in the process of acquiring at least one more license from the parent company of the GreenGate dispensary in Rogers Park that would put the firm over the legal limit.
Verano Holdings, a publicly traded pot firm based in Chicago that’s valued at roughly $3 billion, emerged as one of the big winners in the shuffle to secure new licenses. While some of them brought it down to the wire and waited to the final days to secure licenses, all 55 outstanding permits have now been issued to both the dual-use and recreational stores. Illinois’ small contingent of pot firms was up against a strict March 31 deadline and risked losing out on the opportunity to obtain licenses now valued in the millions if they didn’t meet it.
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