Vext Science Signs Agreement to Produce and Sell Wynk THC Seltzers in Arizona
- Follows the announcement of an MOU with SōRSE Technology Corp. to exclusively produce and sell MAJOR cannabis beverages in Arizona.
VANCOUVER, BC, July 27, 2021 /CNW/ - Vext Science, Inc. ("Vext" or the "Company") (CSE: VEXT) (OTCQX: VEXTF) a cannabinoid brand leader based in Arizona, leveraging its core expertise in extraction, manufacturing, cultivation and marketing to build a profitable multi-state footprint, today announced that it has signed an agreement with Agtech PA LLC ("Agtech") to exclusively produce and sell Wynk THC seltzers ("Wynk") in Arizona (the "Agreement"). Wynk™ is currently partnering with processors across the country to become the first nationally-branded premium THC beverage company in the United States. Vext expects to begin selling Wynk during the second half of 2021.
Eric Offenberger, CEO of Vext commented, "Wynk's unique portfolio of great tasting, microdosed seltzers fits perfectly within our growing beverage portfolio in Arizona, which includes Vapen branded syrups, and MAJOR cannabis-infused beverages1. Through its leading in-house Vapen brand, Vext has deep relationships with the vast majority of Arizona dispensaries, as well as a well-established distribution network and infrastructure in the state. As a result, we are ideally positioned to continue partnering with leading out-of-state brands to establish a presence in the Arizona market."
Wynk is launching in three flavours: Lime Twist, Black Cherry Fizz, and Juicy Mango. Wynk is offered in 250ml serving sizes, with 2.5mg of THC and 2.5mg of CBD per can.
Under the Agreement, Agtech will provide all know-how, ingredients, equipment, and consumable and non-consumable raw materials required to produce Wynk. Vext will provide licensed space for the production and storage of products, supply THC distillate and produce beverages for sale. Vext and Agtech will share the profit on each unit sold, based on an agreed-upon formula.
For more details, visit VEXT's investor website or contact the IR team at [email protected].
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1 On July 6, 2021, Vext announced the signing of a Memorandum of Understanding with SōRSE Technology Corp. ("SōRSE") to exclusively produce and sell SōRSE's MAJOR cannabis-infused beverages in Arizona. Vext expects to begin selling MAJOR beverages in August 2021. |
About Wynk:
Each 8.4oz can of Wynk is a microdose of relaxation, without the hangover. Made with 2.5mg of both THC and CBD per can, you can drink up, chill out and expect a light buzz in about 20 minutes. Refreshing all natural flavors, sparkling with the essence of tempting fruit.
About VEXT Science, Inc.
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. through revenue and profit-sharing joint venture partnerships. For more information visit our website at www.VextScience.com.
For more details on the Vapen brand:
Vapen website: VapenBrands.com
Instagram: @vapen
Facebook: @vapenclear
COVID-19 Risk Factor
VEXT may be impacted by business interruptions resulting from pandemics and public health emergencies, including those related to COVID-19. An outbreak of infectious disease, a pandemic, or a similar public health threat, such as the recent outbreak of COVID-19, or a fear of any of the foregoing, could adversely impact VEXT by causing operating, manufacturing, supply chain, and project development delays and disruptions, labor shortages, travel, and shipping disruption and shutdowns (including as a result of government regulation and prevention measures). It is unknown whether and how VEXT may be affected if such a pandemic persists for an extended period of time, including as a result of the waiver of regulatory requirements or the implementation of emergency regulations to which VEXT is subject. Although VEXT has been deemed essential and/or has been permitted to continue operating its facilities in the states in which it operates during the pendency of the COVID-19 pandemic, there is no assurance that the Company's operations will continue to be deemed essential and/or will continue to be permitted to operate. VEXT may incur expenses or delays relating to such events outside of its control, which could have a material adverse impact on its business, operating results, financial condition and the trading price of the Company's Common Shares.
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, on track" and similar expressions, are forward- looking statements.
Forward-looking statements may include, without limitation, statements related COVID-19, to future developments and the business and operations of VEXT, the Company's market position in the State of Arizona, the timeline for Vext to begin selling MAJOR and Wynk, and the Company's financial results, and of which are subject to the risk factors contained in Vext's continuous disclosure filed on SEDAR.
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.
Eric Offenberger
Chief Executive Officer
844-211-3725
SOURCE VEXT Science, Inc.
Jonathan Ross, VEXT Investor Relations, [email protected], 416-283-0178
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