Vext Announces Voting Results of Annual General Meeting and Strengthens Board

Rhea-AI Summary

Vext Science, Inc. (CSE: VEXT) (OTCQX: VEXTF) announced the addition of Terry L. Creighton and Spiro A. Phanos to its Board of Directors. Shareholders voted in favor of all matters at the annual general meeting, with each resolution passing with over 96% of the votes cast. The new directors bring leadership capabilities, operating experience, and deep expertise from the pharmaceutical and financial sectors.

• Adds accomplished executives Terry L. Creighton and Spiro A. Phanos to the Board of Directors

Vancouver, British Columbia--(Newsfile Corp. - December 15, 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 announced final voting results from its annual general meeting of shareholders held on December 15, 2023 in Vancouver, British Columbia (the "Meeting"), including the election of two new directors of the Company, including one additional independent director.

Annual General Meeting Voting Results

Vext announced that shareholders voted in favour of all matters included in the management information circular for the Meeting.

The shareholders of the Company showed strong support for the matters brought before the Meeting, with each of the resolutions passing with over 96% of the votes cast, representing 73.51% of the votes associated with the issued and outstanding shares of the Company.

Two New Appointments to Board of Directors

The Company also announced the election of Terry L. Creighton and Spiro A. Phanos to the board of directors of the Company (the "Board"). Mr. Creighton is an independent member of the Board, while Mr. Phanos is the nominee of Sopica Special opportunities Fund Limited pursuant to the shareholders agreement announced by the Company on October 2, 2023. The addition of Messrs. Creighton and Phanos to the Board remains subject to regulatory approval in the State of Ohio and such directors will abstain from voting in respect of matters related to the Company's operations in Ohio until such approval is obtained.

Eric Offenberger, CEO of Vext, commented, "I would like to thank Dr. Shelton for his service as a member of the Vext board and express our gratitude for his contributions to the Company's progress over the past several years. As Vext continues to strengthen its footprints in Arizona and Ohio, it is important that we continue to build a strong, experienced board and senior management team that can support the growth. Terry and Spiro bring a valuable combination of leadership capabilities, operating experience, and deep expertise from the pharmaceutical and financial sectors, and I know they will make valuable contributions to the Company as we seek to continue building value for shareholders."

About Terry L. Creighton

Terry L. Creighton is an accomplished pharmaceutical and pharmacy industry senior executive with extensive experience effectively managing global policy, corporate and government affairs in highly regulated environments. Ms. Creighton is an influential leader in industry and was a member of U.S., international, and Canadian industry boards and councils, building consensus to help shape and guide organizations. Ms. Creighton is a pharmaceutical sector thought leader, recognized for her significant breadth and depth of global policy knowledge and experience with generics, biosimilars and innovative products. She was a senior executive with Canada's largest pharmacy retail organization during a time of significant change. Ms. Creighton aims to achieve measurable, bottom-line contributions by mobilizing stakeholders to influence good public policy. Ms. Creighton: (i) is a member, Institute of Corporate Directors, ICD.D (University of Toronto, Rotman Directors Education Program, Toronto, Ontario), (ii) has completed the Executive Leadership Program (Schulich School of Business, Toronto, Ontario), (iii) holds a Master of Business Administration (Schulich School of Business, Toronto, Ontario); and (iv) holds an Honours BA Economics (Queen's University, Kingston, Ontario).

About Spiro A. Phanos

Spiro A. Phanos has nearly 35 years of experience across the legal, financial and arts/entertainment sectors centred in the United Kingdom and the USA. Mr. Phanos currently serves on the Board of Trustees of the Edinburgh International Festival Society Ltd., where he is chair of the finance and resources committee. As managing director of Spiridon Ventures Ltd and, previously, vice president at First Mercantile Partners LLP, Mr. Phanos served as corporate adviser and management consultant to companies in a wide range of industries, with clients including international private equity and commercial real estate funds. Mr. Phanos is a member of the bar of the states of New York and New Jersey and licenced to practice before several United States federal district courts. Mr. Phanos holds a Juris Doctorate from the Seton Hall University School of Law and a Bachelor of Science degree from Cornell University. Mr. Phanos is a citizen of the UK, USA and Greece.

About Vext Science, Inc.

Vext Science, Inc. is a U.S.-based cannabis operator with vertical operations in Arizona and Ohio. Vext's expertise spans from cultivation through to retail operations in its key markets. Based out of Arizona, Vext owns and operates state-of-the-art cultivation facilities, fully built-out manufacturing facilities as well as dispensaries in both Arizona and Ohio. The Company manufactures Vapen™, one of the leading THC concentrates, edibles, and distillate cartridge brands in Arizona. Its selection of award-winning products are created with Vext's in-house, high-quality flower and distributed across Arizona and Ohio, as well as through Vext's partnerships in other states. Vext's leadership team brings a proven track record of building and operating profitable multi-state operations, with the Company having operated profitably since 2016. The Company's primary focus is to continue growing in its core states of Arizona and Ohio, bringing together cutting-edge science, manufacturing, and marketing to provide a reliable and valuable customer experience while generating shareholder value.

Vext Science, Inc. is listed on the Canadian Securities Exchange under the symbol VEXT and trades on the OTCQX market under the symbol VEXTF. Learn more at www.vextscience.com and connect with Vext on Twitter/X and LinkedIn.

For more details on the Vapen brand:
Vapen website: VapenBrands.com
Instagram: @vapen
Facebook: @vapenbrands

Forward Looking Statements

This news release contains "forward-looking statements" or "forward-looking information" (together, "forward-looking statements") within the meaning of applicable securities laws. Wherever possible, words such as "may", "would", "could", "should", "will", "anticipate", "believe", "plan", "expect", "intend", "estimate", "potential for", "see" and similar expressions have been used to identify these forward-looking statements. Forward-looking statements in this news release include, without limitation, statements relating to the Company's business, operations and plans and the Company's application for, and receipt of, regulatory approvals. These forward-looking statements reflect the current expectations of the Company's management for future growth, results of operations, performance and business prospects and opportunities and involve significant known and unknown risks, uncertainties and assumptions, including, without limitation, those listed in the Company's filings with the Canadian securities regulatory authorities (which may be viewed at www.sedarplus.ca). Should one or more of these risks or uncertainties materialize or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this news release. These factors should be considered carefully, and prospective investors should not place undue reliance on the forward-looking statements. The Company disclaims any intention or obligation to revise forward-looking statements whether as a result of new information, future developments or otherwise, except as required by law.

The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.

Eric Offenberger
Chief Executive Officer
844-211-3725

For further information:
Jonathan Ross, Vext Investor Relations
jon.ross@loderockadvisors.com
416-244-9851

SOURCE: Vext Science, Inc.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/191292

FAQ

Who are the new directors added to Vext Science, Inc.'s Board of Directors?

Terry L. Creighton and Spiro A. Phanos have been added to the Board of Directors of Vext Science, Inc.

What were the results of the annual general meeting of Vext Science, Inc.?

Shareholders voted in favor of all matters at the annual general meeting, with each resolution passing with over 96% of the votes cast.

What expertise do the new directors bring to Vext Science, Inc.?

The new directors bring a valuable combination of leadership capabilities, operating experience, and deep expertise from the pharmaceutical and financial sectors.

Where are Vext Science, Inc.'s operations located?

Vext Science, Inc. has vertical operations in Arizona and Ohio.

Who is the CEO of Vext Science, Inc.?

Eric Offenberger is the CEO of Vext Science, Inc.