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VANCOUVER, Feb. 13, 2020 /CNW/ - Vext Science, Inc. ("VEXT" or the "Company") (OTCQX: VEXTF; CSE: VEXT). The Company is pleased to announce that Vapen-Kentucky LLC (Vapen-Kentucky) has received its Certificate of Occupancy for its Hemp Processing Center located in Fulton, Kentucky. Vapen-Kentucky is a previously announced partnership between VEXT and Emerald Pointe Hemp. Vapen Kentucky will operate as a joint operation with each party having an equal share.
Vapen-Kentucky has begun processing hemp biomass supplied by Emerald Pointe at the new Fulton facility. The Hemp Processing Center will produce high-quality, THC free CBD oil and isolate, which will be sold under the Vapen brand and supplied through our wholesale distribution network.
Thai Nguyen, Chairman and CEO of VEXT commented: "We are excited to receive the green light for our operations in Kentucky. The combination of our hemp biomass sourcing partnership with Emerald Pointe combined with the advanced processing capabilities and experience of the VEXT science team is a winning combination that gives us a competitive advantage in this market. We are now forecasting the Vapen-Kentucky operation to deliver revenue contribution in 2020, supporting our strategy to grow revenue and profitability through targeted partnerships with licensed growers and dispensaries in new markets."
About Vext Science
Vext Science, Inc. is a US-based Cannabis THC and Hemp cannabinoid products company manufacturing THC cartridges, concentrates, edibles and accessories under the Vapen™ Brand, and Hemp based products under the Pure Touch Botanicals brand as well as the Vapen CBD brand. Based in Arizona, Vext Science, Inc. has one of the leading THC concentrates, edibles, and distillate cartridge brands sold in most of the state's 100+ dispensaries. Herbal Wellness Center is one of Arizona's leading dispensaries and we execute all aspects of the cultivation, extraction, edibles infusion and manufacturing processes which insures a product of the highest quality and purity. Product quality and purity are core to our marketing strategy. Vext Science, Inc. is executing its business growth by leveraging experience and expertise in extractions, product manufacturing, and marketing to expand in the U.S. and internationally through revenue and profit-sharing joint venture partnerships. For more information visit our website at www.VextScience.com.
Forward Looking Statements
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in VEXT's periodic filings with Canadian securities regulators. When used in this news release, words such as "will, could, plan, estimate, expect, intend, may, potential, believe, should," and similar expressions, are forward- looking statements.
Forward-looking statements may include, without limitation, statements related to future developments and the business and operations of VEXT, the proposed operational timeline for Vapen-Kentucky, the proposed operational timeline for processing hemp biomass at the Fulton facility, revenue and profit contribution for Vapen-Kentucky.
Although VEXT has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; being engaged in activities currently considered illegal under U.S. Federal laws; change in laws; reliance on management; requirements for additional financing; competition; hindered market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry and; regulatory or political change.
There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. Because of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward- looking statements in this news release are made as of the date of this release. VEXT disclaims any intention or obligation to update or revise such information, except as required by applicable law, and VEXT does not assume any liability for disclosure relating to any other company mentioned herein.
The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.
Chief Operating Officer
SOURCE Vext Science, Inc.
For further information: Daniel Southan-Dwyer, Vext Science, Inc., [email protected], 604-366-6277