Elevate Cannabis Co. entered into an agreement to acquire Cultivation facility located in Prescott Valley, Arizona of Vext Science, Inc. for $6.5 million.
October 17, 2023
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Elevate Cannabis Co. entered into an agreement to acquire Cultivation facility located in Prescott Valley, Arizona of Vext Science, Inc. (CNSX:VEXT) for $6.5 million on October 18, 2023. The proceeds will be used for (i) the repayment of a portion of Vext's currently outstanding credit facilities, (ii) future acquisition opportunities and (iii) general corporate purposes.
The transaction is expected to close by November 1, 2023. VIII Capital Corp. acted as financial advisor to Vext.
Vext Science, Inc. is a cannabis operator. The Companyâs expertise spans from cultivation through to retail operations in markets of Arizona and Ohio. It manufactures 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 and Herbal Wellness brands. It has THC concentrates, edibles, and distillate cartridge brands sold in various states dispensaries. It owns and operates cultivation facilities, fully built-out manufacturing facilities as well as dispensaries in both Arizona and Ohio. Additionally, it provides management, advisory, cultivation, and dispensary services to entities in the cannabis field through joint operations agreements. It also sells CBD products and branded merchandise. Vapen Brands product is the wholesale product and sold in its dispensaries. Vapen Brand is an edible and concentrate brand. The Company also owns cannabis dispensary in Columbus, Ohio.
Elevate Cannabis Co. entered into an agreement to acquire Cultivation facility located in Prescott Valley, Arizona of Vext Science, Inc. for $6.5 million.
VEXT SCIENCE, INC. 
