Vext Science, Inc. announced the relocation and expansion of its Herbal Wellness Center dispensary in Jackson, Ohio. Situated in a more central location within Jackson, the new dispensary features an expanded retail space and inventory capacity, offers patients and customers a wide product selection and improves service through a convenient drive-thru window. Vext is fully vertically-integrated in Ohio, operating a Tier I cultivation facility, a manufacturing facility, and two strategically located retail dispensaries in Jackson and Columbus.
Upon closing of the Ohio Expansion Transaction1, the Company expects to add two more dispensaries in Athens and Jeffersonville. Additionally, the recently announced2 Portsmouth location brings the Company closer to reaching the state dispensary license cap of eight, with additional dispensaries expected to open during 2025 and early into 2026, subject to regulatory approvals. The new location, which is leased with an option to purchase, offers Vext flexibility for future growth.
Covering approximately 8,350 square feet, the space includes a 4,500 square foot area renovated for retail dispensary use, with the remaining area available for a potential sublease to help offset Vext's occupancy costs while preserving the ability to expand as needed. The Company expects to fund all renovation and build-out costs entirely through operating cash flow. Vext's Current Footprint in Ohio: Facility3, Status, Tier 1 Cultivation Facility - 25,000 square feet (Jackson, Ohio), Operating.
Ability to expand to 50,000 square feet. Certificate of Operation received for adult-use., Manufacturing Facility (Jackson, Ohio), Operating; Certificate of Operation received for adults-use., Herbal Wellness Center (Columbus, Ohio), Operating. Certificate of Operation received for Adult-use., Herb Wellness Center (Columbus Inc., Operating.
