Connect with us

BUSINESS

Vext Science Inc (OTCMKTS: VEXTF) Purchases Eloy, Arizona Based 72,000 Sq. Ft. Cultivation Facility: Posts A Growth Of 123.96% YoY In Q1 2021 Revenues

Published

on

Vext Science Inc (OTCMKTS: VEXTF) acquired Eloy, Arizona-based cultivation facility (72,000 Sq. ft). It also received the nod to construct and manage sophisticated medical cannabis cultivation operations on this property.

Vext Science will build a 34,000 Sq. ft. facility in this area within nine months of closing this deal. The Eloy facility also comprises ample space to facilitate future expansion. 

The company signed a purchase and sale accord on April 7, 2021, to clinch 72,000 Sq. ft. vacant land in the city of Eloy.

The State of Arizona approved Vext Science on May 20, 2021, to commence operations in its newly built manufacturing and extraction facility situated at 40th Avenue, Phoenix. 

Vext Science‘s CEO, Eric Offenberger, said the company would have an overall capacity of approximately 58,000 Sq. ft. under the Canopy after operationalizing of Eloy facility. Ten acres of outdoor capacity will support additional growth in Arizona. 

Vext Science can manufacture additional premium quality flower at the Eloy facility to support the growth of the Vappen brand. It also helps to expand its retail presence in the state. 

Reports robust growth

Vext Science posted solid growth of 123.96% YoY in Q1 2021 revenues to $9.160 million. In addition, it reported a QoQ growth of 47.3%.

The company will host a webcast and conference call on May 26, 2021, to discuss Q1 2021 financial results. 

Commenting on Q1 2021 revenues, Eric said the company reported a stellar performance mainly from its Phoenix dispensaries in March 2021. In addition, the company is continuing to build momentum in the Arizona space with the recent announcement of expansions that effectively triples its cultivation footprint and a fourfold rise in the production capability. 

Vext Science is reporting profits consecutively since 2016. In addition, the company is committed to providing organic growth for its investors by expanding its presence in Arizona and utilizing the strength of its Vappen brand. 

Vext Science inducted an experienced CFO – on January 7, 2021, to manage New Gen Holdings, Inc, its subsidiary based in Arizona.

It also received the nod on January 22, 2021, to commence recreational cannabis sales in Arizona. It formally began selling adult-use cannabis on January 28, 2021, to its consumers.

Vext Science raised $20.7 million through a bought deal offering on February 9, 2021. 

[optin-monster-shortcode id="lt2ftjs5qhrst1pzmmap"] *Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

BUSINESS

Khiron Life Sciences Corp (OTCMKTS: KHRNF) Accelerating Its Expansion and Presence In Mexico and Brazil

Published

on

Khiron Life Sciences Corp (OTCMKTS: KHRNF) has announced the successful completion of its first medical cannabis sale in Brazil. The company plans to leverage its clinical distribution and production assets in Latin America plus marketing contracts with pharmaceutical distributors to expand its presence in Brazil, where there is a market of more than 200 million people.

Khiron enhancing its presence in Brazil

The company’s Director and CEO Alvaro Torres said, “Our initial export to the Brazilian market represents an important first step toward opening a large, underserved market where patients face high barriers to access. By providing patients with affordable high-quality products, and an unparalleled patient experience, we see an opportunity to disrupt the Brazilian market and deliver on our mission of improving patients lives. Khiron is already treating thousands of patients in Colombia, Peru, UK and Germany, with positive outcomes. In due course, we plan to bring our successful Zerenia clinic model to Brazil, as we have done in Peru and Colombia.”

So far, the company has created two partnerships in Brazil to enhance medical cannabis education and awareness for care providers across the country. Khiron has an exclusive distribution agreement with Medlive. Also, the company entered a marketing contract with a medical distributor, TAIMIN.

Khiron expanding to Mexico

The company is accelerating its entry into Mexico, where there is a large market for around 11.7 million patients in need of medical cannabis remedies. Khiron is leveraging the National Strategic project designation in Columbia for authorization to include Mexico as a destination within the international export quota. There more than 700 kg of high-THC extract available for export to Mexico. Already the company has finalized a manufacturing and distribution agreement for medical cannabis products in Mexico. The company will launch Zerenia clinics in major Mexican cities in 2021, replicating the vertically integrated model in Peru and Columbia. 

[optin-monster-shortcode id="lt2ftjs5qhrst1pzmmap"] *Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
Continue Reading

BUSINESS

PharmaCyte Biotech Inc. (OTCMKTS: PMCB) Announces Reverse Stock Split, Branded Legacy Inc. (OTCMKTS: BLEG) adds 15 Retail Grocery Accounts

Published

on

PharmaCyte Biotech Inc. (OTCMKTS: PMCB) has announced plans to effect a 1 for 1,500 reverse common stock split leaving it with around 1.6 million outstanding and issued shares. Once the market opens, the company’s common shares will commence trading on the OTCQB on a split-adjusted basis from July 12, 2021. 

PharmaCyte announces reverse stock split 

The move seeks to reduce PharmaCyte’s outstanding common shares from around 2.4 million to $1.6 million. Interestingly, there will be proportional adjustments to PharmaCyte’s outstanding warrants and stock options. 

Kenneth L. Waggoner, the company’s CEO, stated, “With approximately 1.6 million shares outstanding, we believe this change will make it easier for investors to trade in our stock and is a necessary step before the Company’s common stock can be listed on a national stock exchange like Nasdaq, which is our expectation.”

Branded Legacy adds 15 new retail grocery accounts 

Branded Legacy Inc. (OTCMKTS: BLEG) has announced 15 new retail grocery accounts in Central Florida. The company is gaining momentum with new hires introducing Elev8 Hemp CBD-infused Ice tea at two grocery chains on a pilot basis. The CBD iced tea will be availed in five Fancy Fruit & Produce stores and ten Bravo Supermarkets. 

Matthew Nichols, Branded Legacy VP, said, Working with the right people is critical in any company. We are pleased to see the activity and results in such a short period of time. It’s a precursor of what’s to come. We are very pleased with the recent growth. We are seeing sales growing on our website, social, Amazon, and brick-and-mortar. There have been some hurdles to overcome, but we now have the right team in place. We expect to see a strong influx in sales in the third and fourth quarter.”

[optin-monster-shortcode id="lt2ftjs5qhrst1pzmmap"] *Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
Continue Reading

BUSINESS

Ayr Wellness Inc. (OTCMKTS: AYRWF) Launches Seven Hills Flower and Opens 37th Location

Published

on

Ayr Wellness Inc. (OTCMKTS: AYRWF) has announced the opening of its 37th open location in Florida, Liberty Health Sciences. The 1,500 square feet dispensary is situated at 826 Duval Street, Key West Florida, 33040.

Ayr opens its 37th location in Florida

 It sits on Downtown Key West’s main strip with a range of nearby attractions, shops, and restaurants. The location features a variety of flower products, including the Ayr Wellness’ recently launched Big Pete’s cookies and Origin concentrates. 

Ayr CEO Jonathan Sandelman said, “We are continuing to execute on our Florida plan, opening dispensaries in prime locations while continually enhancing our cultivation efforts to make us the highest quality cultivator at scale in the state. Our updated product offerings, including a diversified strain selection and launch of Origyn Extracts and Big Pete’s Cookies, have already contributed to an improved customer experience, and the results are beginning to show.”

Ayr launches Seven Hills flower in Pennsylvania. 

The company also announced the launch of Seven Hills flower in Pennsylvania following the Revel branded flower’s introduction in May. Seven Hills will be the company’s first offering from its Pottsville, Pennsylvania facility. The Seven Hills sales have commenced and will be available in the company’s Plymouth Meeting and Gibsonia dispensaries. The initial launch includes a variety of strains that include Space Monkey, Sapphire, Wedding Crasher, Mendo, Chem 4, and Lemon Kush Headband, among others.

Sandelman stated, “Our mission is to be the highest quality cultivator at scale in every market that we enter, and Pennsylvania is no exception. We are excited to add Seven Hills to our premium offerings in the Commonwealth, where quality flower is in high demand. I am particularly thrilled to be here with the team today on 7/7 to celebrate the launch of Seven Hills, a product that truly represents the people and community of Pottsville, PA.”

[optin-monster-shortcode id="lt2ftjs5qhrst1pzmmap"] *Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
Continue Reading

Trending Stories