Multistate hashish operator Verano Holdings raised $100 million in subscription receipt financing in reference to a reverse-takeover deal that can see the corporate go public on the Canadian Securities Exchange.

The Chicago-based agency, which at the moment operates in 12 U.S. states, made the announcement Thursday.

The deal is anticipated to shut in February.

Verano beforehand stated the providing would elevate between $50 million and $100 million.

The $100 million subscription receipt providing was made by means of a particular objective financing car.

It included a brokered providing that raised $67,200,000 and a nonbrokered providing price $32,800,000.

The subscription receipts will probably be exchanged for shares within the new publicly traded firm, which will probably be known as Verano Holdings Corp., after the reverse takeover is full.

The reverse takeover transaction contains Verano’s merger with AltMed and several other affiliated firms, which was introduced in November.

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