Vancouver, British Columbia–(Newsfile Corp. – March 1, 2024) – Vext Science, Inc. (CSE: VEXT) (OTCQX: VEXTF) (“Vext” or the “Company”), a U.S.-based cannabis operator with vertical operations in Arizona and Ohio, today announced that it has completed the acquisition (the “Acquisition”) of a cannabis dispensary in Columbus, Ohio (the “Columbus Dispensary”), as part of the previously disclosed acquisition of Appalachian Pharm Processing, LLC, together with its subsidiaries and affiliated companies. As part of the closing, Vext will pay to CannAscend Ohio Columbus, LLC, additional aggregate consideration of approximately $2,879,322.00 plus approximately $148,000.00 for certain pre-closing tax liability of the Columbus Dispensary, subject to adjustments based on pre-closing operations. The Columbus Dispensary is called Strawberry Fields, and located at 2950 E. Main Street, Columbus, Ohio. On February 2, 2024, Vext received regulatory approval from the Ohio Department of Commerce to transfer ownership of the Columbus Dispensary to Vext.
Eric Offenberger, CEO of Vext commented, “With the adult-use market opening this year, Ohio is positioned for substantial growth and is expected to become a $4 billion market by 20281. Through the acquisition of Strawberry Fields, along with the previously announced Ohio Expansion Transaction, Vext has established a meaningful vertical presence in the state