VANCOUVER, BC, July 6, 2021 / CNW / – Vext Science, Inc. (“Vext” or the “Company”) (CSE: VEXT) (OTCQX: VEXTF) a leading manufacturer of cannabinoids based in Arizona– Leveraging its core mining, manufacturing, cultivation and marketing skills to build a profitable, multi-state footprint, today announced that it has partnered with SōRSE Technology Corp. (“SōRSE”) has signed a Memorandum of Understanding (“MOU”) to exclusively produce and sell SōRSEs MAJOR cannabis-infused beverages in Arizona. SōRSE is a leader in water-soluble emulsion technology for integrating functional ingredients into commercially available consumer goods. Vext expects to start selling MAJOR beverages in. to start August 2021.
Eric Offenberger, CEO of Vext commented, “SōRSE’s proprietary infusion technology and expertise powers some of the leading cannabis beverage brands in the US today, and we are excited to announce this deal to uncover the core beverages made and sold by Vapen, to bring to consumers in the US Arizona. Our in-house brand Vapen is consistently one of the top brands in Arizona, with prominent placement in our two operated Phoenix Pharmacies as well as the vast majority of outside pharmacies in the state. Beverages are an important growth segment and will complete the vaping offering of concentrates, extracts, edibles, vapes, topicals and tinctures. “
MAJOR was developed as a high-dose THC drink that provides a consistent and enjoyable cannabis experience with no cannabis taste or smell. MAJOR is available in five flavors: Orange Mango, Pink Lemonade, Blue Raspberry, Passion Fruit and Grape. MAJOR drinks are offered in 200 ml portion sizes with 100 mg THC. Data from Headset recently revealed that MAJOR was the top-selling cannabis beverage brand in the U.S. in the first quarter of 20211.
Under the Memorandum of Understanding, SōRSE will provide all know-how and formulations for the manufacture of MAJOR 100 mg THC cannabis beverages, and Vext will provide licensed space for the manufacture and storage of products and manufacture beverages for sale. Vext pays an initial license fee of $ 100,000 Pay a fixed price for SōRSE emulsion and a fixed price per unit produced to SōRSE when signing a definitive agreement. Vext may also choose to manufacture other existing formulations of SōRSE and / or use SōRSE emulsions to develop additional products under the Vapen brand, for which S itRSE is paid a license fee.
About VEXT Science, Inc.
Vext Science, Inc. is a US-based cannabis THC and hemp cannabinoid products company selling THC cartridges, concentrates, edibles and accessories under the Vapen ™ brand and hemp-based products under the Pure Touch Botanicals brand and Vapen CBD manufactures. Based in Arizona, Vext Science, Inc. has one of the leading brands of THC concentrates, edibles, and still cartridges sold in most of the state’s 100+ pharmacies. Herbal Wellness Center is one of Arizona leading pharmacies and perform all aspects of growing, extracting, infusing edibles and manufacturing to ensure a product of the highest quality and purity. Product quality and purity are the core of our marketing strategy. Vext Science, Inc. grows its business by leveraging mining, product manufacturing, and marketing experience and expertise to expand in the United States through revenue and profit sharing joint venture partnerships. For more information, visit our website at www.VextScience.com.
About SōRSE technology
SōRSE technology is the leading water-soluble emulsion technology designed for producers to provide consumers with a comfortable, consistent cannabis experience with accurate dosing, stability and safe ingredients. Our patent-pending technology converts oil into SōRSE, a water-soluble emulsion, for seamless integration as an ingredient in beverages, food or personal care products.
In addition to their water-soluble emulsion solutions for customer product development, SōRSE works with licensed manufacturers to manufacture and distribute SōRSE’s best-selling, market-proven THC-infused brands for rapid commercialization. Products supported by SōRSE can currently be licensed under THC Essentials – https://thcessentials.com/.
For more information, visit www.sorsetech.com.
COVID-19 risk factor
VEXT may be affected by business interruptions due to pandemics and public health emergencies, including those related to COVID-19. An infectious disease outbreak, pandemic, or similar public health threat, such as the recent COVID-19 outbreak, or a fear of any of the above events could adversely affect VEXT by causing operations, manufacturing, supply chain, and project development delays and disruptions, labor shortages, travel and shipping disruptions and downtimes (including due to government regulations and preventive measures). It is not known whether and how VEXT can be affected if such a pandemic persists for a long period of time, including through the waiver of regulatory requirements or the implementation of emergency regulations to which VEXT is subject. While VEXT has been deemed material and / or has been permitted to continue operating its facilities in the states in which it operates during the pandemic of the COVID-19 pandemic, there is no guarantee that the Company’s operations will continue to be material is deemed and / or or will continue to be operational. VEXT may incur costs or delays in connection with such events beyond its control that could have a material adverse effect on its business, results of operations, financial condition and the trading price of the company’s common stock.
Statements in this press release that are forward-looking statements are subject to various risks and uncertainties relating to the specific factors disclosed here and elsewhere in VEXT’s periodic filings with the Canadian Securities and Exchange Commission. As used in this press release, words such as “will, could, plan, estimate, expect, intend, can, potentially, believe, should, on track” and similar expressions are forward-looking statements.
Forward-looking statements may include, but are not limited to, statements relating to COVID-19, future developments and the business and operations of VEXT, the company’s position in the market State of Arizona, Vext’s schedule to begin the sale of MAJOR and the company’s financial results, and which are subject to the risk factors included in Vext’s ongoing disclosure 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, other factors could cause results, performance or achievements not to be estimated as expected or intends to, including, but not limited to: reliance on obtaining regulatory approvals; Engage in activities that are currently illegal under US federal law; Change of law; Dependence on management; Requirements for additional funding; Competition; hindered market growth and government acceptance due to inconsistent public opinion and perception of the medical and adult marijuana industry; regulatory or policy changes.
There can be no guarantee that this information will prove to be correct or that management’s expectations or assessments of future developments, circumstances or results will materialize. Because of these risks and uncertainties, the results or events predicted in these forward-looking statements could differ materially from actual results or events.
Accordingly, readers are cautioned not to place undue reliance on forward-looking statements. The forward-looking statements in this press release speak as of the date of this press release. VEXT disclaims any intention or obligation to update or revise this information except as required by applicable law, and VEXT assumes no liability for the disclosure in relation to any other company mentioned herein.
The Canadian Securities Exchange has not reviewed, approved, or disapproved of the contents of this press release.
SOURCE VEXT Science, Inc.
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