VANCOUVER, Canada – Vext Science, Inc., a cannabinoid brand leader based in Arizona, leveraging its core expertise in extraction, manufacturing, cultivation and marketing to build a profitable multi-state footprint, is pleased to confirm that Proposition 207 was approved by the residents of the State of Arizona last night.
VEXT is well-positioned as one of the few publicly traded pure-play operators in Arizona. The Company has an established, vertically integrated footprint in the State, including:
- Two Phoenix dispensaries – one open since August 2013, one since July 2020 – both ideally situated in high traffic areas and already built-out with ample parking and customer service space in preparation for adult use. Online ordering in place for both locations.
- Two indoor cultivation facilities – Phoenix and Prescott Valley – as well as a large-scale outdoor cultivation property in Prescott Valley.
- State of the art kitchen and manufacturing facilities in Phoenix/Prescott Valley.
- Vapen branded products currently stocked in 80%+ of licensed Arizona dispensaries.
Eric Offenberger, chief executive officer of VEXT commented: “As a long-time Arizona operator and the producer of one of the State’s most recognized consumer cannabis brands – Vapen – we have been preparing for November 3 for over a year, building-out our retail, cultivation and manufacturing operations to ensure we were prepared to handle adult use in Arizona. I would like to thank the State for running a process that enabled the people of Arizona to have their voices heard on the cannabis issue and that will ensure a stable transition from medical to adult use.
“We look forward to introducing customers to our portfolio of high-quality products in 2021 – whether they shop online or at one of our two conveniently located Phoenix dispensaries – while ensuring our existing patients have consistent access to the medicine they need. 2021 will be a very exciting year for VEXT as we prepare to welcome more people to our retail locations, expand our wholesale opportunity set and continue to drive shareholder value by executing our return-focused strategy both in Arizona and across our multi-state footprint.”
