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The HHS Rescheduling Proposal: Verano CEO Reflects on the Potential Impact on the Cannabis Industry

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The HHS Rescheduling Proposal: Verano CEO Reflects on the Potential Impact on the Cannabis Industry


“This is a momentous occasion,” says George Archos, CEO of Verano Holdings Corp (VRNO, VRNOF), in response to the recent recommendation by the Department of Health and Human Services (HHS) for the Drug Enforcement Administration (DEA) to reclassify cannabis from Schedule I to Schedule III.”

The HHS recommendation has the potential to reshape the cannabis industry as we know it.

In an interview with Benzinga’s cannabis editor, Maureen Meehan, Archos shares his thoughts on the industry’s reaction to the news. “We’ve been eagerly awaiting this moment. When President Biden took action, we anticipated a lengthy process. However, this is a significant milestone for the entire cannabis industry.”

Watch the interview here

Interested in discussing the future of the cannabis industry with the Verano team? Verano’s President, Darren Weiss, and Chief Investment Officer, Aaron Miles, will be featured speakers at the upcoming Benzinga Cannabis Capital Conference in Chicago on September 27th and 28th.

Could the Potential DEA Reschedule Spark a Financial Boom in Cannabis?

Archos reflects the sentiments of many in the industry when he describes the excitement that filled their corporate office upon hearing the news. He acknowledges that this rescheduling could have significant implications for the entire industry. “The HHS recommendation to the DEA is a monumental step forward for us. We view it as a positive progression for the industry as a whole, and we hope that it will be implemented swiftly. It’s been a long time coming,” Archos remarks.

Meehan notes that the industry has faced numerous challenges and setbacks in the past, but this development feels different. She emphasizes the importance of events like the Benzinga Cannabis Capital Conference in Chicago in providing opportunities for engagement and attracting new investors.

Archos agrees, stating, “We are thrilled to have this news coincide with the conference. It’s a chance for us to showcase our company, highlight the positive benefits of cannabis, and share our daily initiatives.”

In addition, Archos discusses how the potential rescheduling could revolutionize the industry, particularly for social equity entrepreneurs who have been in a state of uncertainty.

Join us at the Benzinga Cannabis Capital Conference in Chicago on September 27th and 28th to further explore this paradigm shift and become part of this transformative journey in the cannabis industry.

Image by Benzinga