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Vext Science Inc. reports developments for a U.S.-based cannabis operator with vertical operations in Arizona and Ohio. The company owns and operates cultivation facilities, manufacturing assets and dispensaries, and manufactures the Vapen brand of THC concentrates, edibles and distillate cartridges in Arizona.
Recurring news includes quarterly and annual financial results, operating cash flow and EBITDA updates, Ohio retail scaling, Arizona cultivation and manufacturing footprint decisions, and cannabis market activity across its core states. Company updates also cover shareholder meeting results, ownership disclosures, capital-structure matters involving multiple voting and subordinate voting shares, and trading references for its CSE-listed shares and OTCQX symbol VEXTF.
Vext Science (OTCQX: VEXTF), a U.S.-based cannabis operator with operations in Arizona and Ohio, has scheduled the release of its Q1 2025 financial results for May 21, 2025, before market open. The company will host a conference call and webcast on the same day at 8:00 AM ET to discuss the results.
Interested participants can join via phone using the dial-in numbers +1-647-849-3159 or 1-833-752-3966 (Conference ID: 10199977). A replay will be available until June 4, 2025, using playback number 5885585. The webcast can be accessed at www.gowebcasting.com/14070, and a replay will be available on Vext's investor website after the call.
Vext Science (VEXTF) has announced the strategic sale of its Kentucky medical cannabis processing license for US$880,000 through its subsidiary Vapen Kentucky. The transaction aligns with the company's focused approach on its core markets in Arizona and Ohio.
Prior to the sale, on March 16, 2025, Vext acquired the remaining 50% membership interest in Vapen Kentucky from its joint venture partner using non-cash consideration. Following the transaction's closure, Vapen Kentucky will redirect its focus to hemp-related business opportunities.
The proceeds will be allocated towards:
- Repayment of existing credit facilities
- Development of Ohio retail footprint
- General corporate purposes
Vext Science (VEXTF) has completed the acquisition of two cannabis dispensaries from Big Perm's Dispensary Ohio for US$8.1 million, doubling its retail presence in Ohio. The acquisition adds locations in Athens and Jeffersonville to existing dispensaries in Jackson and Columbus.
The company is now fully vertically integrated in Ohio with:
- A Tier I cultivation facility (25,000 sq ft, expandable to 50,000 sq ft)
- A manufacturing facility
- Four operational medical and adult-use dispensaries
Vext has secured approval to develop three additional dual-use dispensaries and expects its Portsmouth location to commence operations in Q2/Q3 2025. The company is on track to reach Ohio's state license cap of eight dispensaries by early 2026, with cash flow projected to return to growth in Q4 2024.
Vext Science (VEXTF) reported strong Q4 2024 financial results, marking its strongest operating quarter in recent years. Revenue reached $10.2 million in Q4 2024, up 13% quarter-over-quarter, driven by Ohio adult-use sales and Arizona operations. Adjusted EBITDA grew significantly to $3.2 million (compared to $0.5 million in Q4 2023), while cash flow from operations turned positive at $4 million.
The company received approval from Ohio's Division of Cannabis Control to acquire Big Perm dispensaries in Athens and Jeffersonville. This expansion will double Vext's Ohio retail footprint to four locations. Additionally, Vext secured a provisional license for a fifth dispensary in Portsmouth, Ohio, expected to open in Q2/Q3 2025. The company aims to reach Ohio's dispensary license cap of eight locations by early 2026.
In Arizona, despite a 25% decline in statewide per-store sales, Vext maintained market share through effective retail traffic management and improved yields at its Eloy cultivation facility.
Vext Science (CSE: VEXT, OTCQX: VEXTF), a U.S.-based cannabis operator with vertical operations in Arizona and Ohio, has scheduled its Q4 and fiscal 2024 financial results announcement for March 31, 2025, before market open.
The company will host a conference call and webcast on the same day at 8:00 AM ET to discuss the quarterly and full-year 2024 results. Participants can join via phone using dial-in numbers +1-647-849-3159 or 1-833-752-3966 (Conference ID: 10197749). A replay will be available until April 14, 2025, using playback number 5786741.
Vext Science (VEXTF) has relocated and expanded its Herbal Wellness Center dispensary in Jackson, Ohio, doubling its retail footprint. The new location features an 8,350 square foot space, including 4,500 square feet for retail operations and a drive-thru window for improved customer convenience.
The company operates a vertically integrated business in Ohio, including a Tier I cultivation facility, a manufacturing facility, and two operational dispensaries in Jackson and Columbus. Vext is pursuing expansion to reach Ohio's maximum limit of eight dispensaries, with plans to add locations in Athens, Jeffersonville, and Portsmouth through its Ohio Expansion Transaction, expected to close in Q1 2025.
The company has received approval to develop three additional dual-use dispensaries under the DCC's 10(B) license program. The new Jackson location is leased with a purchase option, offering flexibility for future growth and potential sublease opportunities to offset occupancy costs.
Vext Science (CSE: VEXT, OTCQX: VEXTF), a U.S.-based cannabis operator with vertical operations in Arizona and Ohio, announced the voting results from its annual general meeting held on December 13, 2024, in Vancouver. Shareholders demonstrated strong support for all matters presented in the management information circular, with each resolution passing with over 98% approval. The voting represented 73.45% of the total issued and outstanding shares of the company.
Vext Science (VEXTF) has secured a provisional license for its fifth cannabis dispensary in Portsmouth, Ohio, strengthening its retail presence in this -license market. The dispensary is expected to begin operations in Q2 or Q3 2025, pending regulatory approvals. The company acquired the associated real property through a $350,000 mortgage at 10% annual interest over 15 years.
Vext currently operates a Tier I cultivation facility, a manufacturing facility, and two retail dispensaries in Jackson and Columbus. The company aims to reach Ohio's state license cap of eight dispensaries through previously announced acquisitions and additional 10(B) licenses. The Portsmouth location, situated along the Ohio River, represents a strategic expansion in southern Ohio.
Vext Science (CSE: VEXT) (OTCQX: VEXTF), a U.S.-based cannabis operator with operations in Arizona and Ohio, has expanded its engagement with Zuanic & Associates through a Revised Services Agreement. Under the new agreement, Zuanic will provide advisory, research, and investor relations services to Vext for an initial twelve-month term starting October 1, 2024. The services will be provided for a monthly cash fee not exceeding US$7,000. Zuanic, an arm's length financial consulting and research advisory firm based in New Jersey, will deliver these services through various mediums and platforms.
Vext Science (CSE: VEXT, OTCQX: VEXTF), a U.S.-based cannabis operator with operations in Arizona and Ohio, has distributed Meeting Materials for its upcoming Annual General Meeting scheduled for December 13, 2024. The materials include the Management Information Circular, Notice of Meeting, and proxy form. Due to the Canada Post strike, shareholders can access electronic copies through the company's website, SEDAR+ profile, or by email request. Registered shareholders must submit proxy forms 48 hours before the meeting, excluding weekends and holidays.