Vext Reports Financial Results for Q3 2023
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November 28, 2023 6:32 AM EST
Generated revenue of $8.1 million and Adjusted EBITDA1 of $1.1 million.Reported 14th consecutive quarter of positive EBITDA1 and positive Adjusted EBITDA1Recorded cash flow from operations of $3.8 million YTD, marking 13 out of 14 consecutive quarters of positive cash flow from operations.On November 16th, closed the sale of Prescott Valley cultivation facility, generating $6.5 million in cash. Closed private placement on October 12th for net proceeds of $11.5 million, with insiders purchasing over 60% of the offering.Announced definitive agreements to acquire two additional retail dispensaries in Ohio on October 16th. On closing, Vext will have an operating Tier I cultivation facility, an operating manufacturing facility, and four dispensaries in Ohio2, which is expected to transition to an adult-use market in 2024.
Vancouver, British Columbia–(Newsfile Corp. – November 28, 2023) – 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 reported its financial results for the period