VEXT SCIENCE INC - VEXTF STOCK NEWS

Vext Science (CSE: VEXT) (OTCQX: VEXTF) reported Q2 2024 financial results with revenue of $8.4 million and Adjusted EBITDA of $1.1 million. The company is well-positioned in Ohio's newly launched adult-use cannabis market, with a large footprint including a Tier 1 cultivation facility, manufacturing facility, and two retail dispensaries. Vext expects to reach the state dispensary license cap in 2024.

Key financial highlights:

• Q2 2024 revenue: $8,426,928
• Q2 2024 EBITDA: $171,309
• Q2 2024 Adjusted EBITDA margin: 12.9%

CEO Eric Offenberger noted the challenges in the consumer sector but expressed optimism about Ohio's adult-use market potential. The company is focusing on transitioning Ohio dispensaries to serve both medical and adult-use markets, enhancing Arizona operations, and exploring growth opportunities.

Vext Science, Inc. (CSE: VEXT) (OTCQX: VEXTF), a U.S.-based cannabis operator with vertical operations in Arizona and Ohio, has announced plans to release its financial results for the second quarter ended June 30, 2024, before market open on August 20, 2024. The company will host a conference call and webcast on the same day at 08:00 a.m. ET.

Conference call details include:

• Date: August 20, 2024
• Time: 8:00 am E.T.
• Participant Dial-in: +1-647-484-8814 or 1-844-763-8274
• Conference ID: 10191819

A replay of the call and webcast will be available on Vext's investor website after the event.

Vext Science, Inc. (CSE: VEXT) (OTCQX: VEXTF) has announced the commencement of adult-use cannabis sales in Ohio on August 6, 2024. The company has secured Certificates of Operation for dual licensing of its cultivation and manufacturing facility as well as its operated dispensaries in Jackson and Columbus. Vext's current footprint in Ohio includes a 25,000 square feet Tier 1 cultivation facility (expandable to 50,000 square feet), a manufacturing facility, and two operating dispensaries. The company has agreements for two additional dispensaries and is entitled to receive three more adult-use licenses as a Tier 1 Cultivator, potentially bringing its total retail footprint in Ohio to seven locations.

Vext Science, Inc. (CSE: VEXT) (OTCQX: VEXTF) has secured dual-use Provisional Licenses from the Ohio Division of Cannabis Control for its cultivation and manufacturing facility, as well as its dispensaries in Jackson and Columbus. This marks a significant step towards obtaining Certificates of Operations, enabling Vext to enter Ohio's adult-use cannabis market.

Vext currently operates a Tier I cultivation facility, a manufacturing facility, and two dispensaries in Ohio. The company is set to expand its footprint with two additional dispensaries upon closing of the previously announced Ohio Expansion Transaction. CEO Eric Offenberger expressed optimism about the company's preparedness to leverage its position in the state for shareholder returns.

The company's Ohio footprint includes operational facilities in Jackson and Columbus, with plans for further expansion. An amendment to the Ohio Expansion Transaction has reduced the consideration from $9.4 million to $7.7 million.

Vext Science announced its Q1 2024 financial results, highlighting a revenue of $8.4 million, compared to $9.1 million in Q1 2023. The adjusted EBITDA stood at $1.9 million, a decrease from $2.9 million in Q1 2023. The EBITDA margin improved to 23.3% from 6.5% in Q4 2023. The company is preparing for the anticipated adult-use program in Ohio, leveraging its vertically-integrated operations. A $2 million standby credit facility has been secured to support operations and expansion in Ohio. CEO Eric Offenberger emphasized the potential growth in Ohio despite consumer challenges in Arizona. The company plans to enhance cash flow and shareholder returns with modest capital expenditures and strategic financial flexibility.

Vext Science (CSE: VEXT, OTCQX: VEXTF), a U.S.-based cannabis operator in Arizona and Ohio, announced it will release its Q1 2024 financial results on May 29, 2024, before market open.

The results will cover the quarter ended March 31, 2024.

A conference call and webcast will follow at 8:00 a.m. ET on the same day.

Dial-in numbers for the call are +1-647-484-8814 or 1-844-763-8274, with a replay available until June 12, 2024, at +1-604-674-8052 or 1-855-669-9658, using conference ID 10023534.

Webcast access is provided through https://www.gowebcasting.com/13356. For further details, contact investors@vextscience.com.

Vext Science, Inc. reported a revenue of $34.8 million for 2023 with Adjusted EBITDA of $5.5 million. The company is set to launch an adult-use program in Ohio for significant growth. Ohio expansion includes a cultivation facility, manufacturing facility, and four dispensaries. Despite market challenges, Vext performed well in Q4, positioning itself for growth in Ohio's $4 billion cannabis market. Recent acquisitions and debt conversions indicate strategic moves for Vext's expansion.

Vext Science, Inc. announces new date for Q4 and fiscal 2023 financial results release. The company will release its financial results for the period ended December 31, 2023, on May 10, 2024, and host a conference call and webcast on the same day at 1:00 p.m. ET.

Vext Science, Inc. (CSE: VEXT) (OTCQX: VEXTF) announces a delay in the filing of its annual financial statements for 2023, related management discussions, and officer certifications. The delay is due to a recent auditor change and complex accounting treatment of Q4 2023 transactions. The company has postponed its conference call scheduled for April 25, 2024, until the filings are complete. Vext is actively working with auditors to complete the filings by May 10, 2024, and has applied for a management cease trade order to restrict trading until filings are submitted.