- Secures a provisional license for sixth Ohio dispensary in Fairfield, with operations expected to begin in Q4 2025, subject to regulatory approvals.
- Demonstrates Vext's strategic approach to retail location selection, with the Fairfield dispensary located next to Jungle Jim's - a high-traffic regional anchor - as the Company advances toward Ohio's dispensary license cap of eight (8)[1].
- Continues to scale its vertically integrated presence in Ohio, positioning Vext to drive consistent cash flow and operating leverage, as additional retail stores are added to its footprint.
Vancouver, British Columbia--(Newsfile Corp. - June 24, 2025) - 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 that it has been granted a dual-use provisional license by the Ohio Division of Cannabis Control ("DCC") for a cannabis dispensary in Fairfield, Ohio (the "Dispensary"). All currency references used in this news release are in U.S. currency unless otherwise noted.
The 3,825 square foot dispensary will be located in Fairfield, a northern suburb of Cincinnati, just off Route 4, a high-traffic commercial corridor. The site is adjacent to Jungle Jim's International Market, a major retail attraction, and surrounded by national retailers and a large fitness center, supporting strong consumer traffic. Additionally, the City of Fairfield has imposed a one-dispensary limit, and Vext has secured the sole permitted location, providing a unique competitive advantage in the market.
Eric Offenberger, CEO of Vext commented, "The Fairfield dispensary marks our sixth location in Ohio and reflects the disciplined, strategic growth that underpins our vertically integrated model. With five stores already operational in Ohio[2], we are seeing strong validation of our approach through record cash flow and margin expansion in 2025. Fairfield is expected to be a meaningful contributor to long-term growth, supported by it's high-visibility location, limited competition, and convenient drive-thru format. We are particularly excited about the Dispensary's proximity to Jungle Jim's International Market - an iconic regional retail destination that enhances both visibility and customer traffic and look forward to serving the vibrant Fairfield community. Ohio continues to be a core market for Vext, and each new store further strengthens our ability to drive consistent results and value for shareholders."
The provisional license confirms that the Dispensary complies with all applicable zoning and planning requirements and meets Ohio's statutory setback requirements for medical and adult-use retail sales. The Dispensary is fully permitted for construction improvements, and Vext has executed a construction agreement for the build-out of a retail facility, including a drive-thru. Construction is underway, with the Dispensary expected to be operational in the fourth quarter of 2025, upon receipt of regulatory approvals. Total capital costs for the project are expected to be approximately $1 million, and the Company expects to fund the build-out entirely through operating cash flow.
Vext currently operates four dispensaries in Ohio and is awaiting to execute a license transfer on a fifth, operational dispensary in Portsmouth, Ohio, pending receipt of regulatory approval. Additional locations are expected to come online through 2025 and early 2026 as the Company progresses toward the state dispensary license cap of eight. With full vertical integration that includes a Tier I cultivation facility and manufacturing operations, Vext is well-positioned to efficiently serve both medical and adult-use markets in Ohio.
Vext's Current Footprint in Ohio:
| Facility[3] | Status |
| Tier 1 Cultivation Facility - 25,000 square feet (Jackson, Ohio) | Fully operational. Ability to expand to 50,000 square feet. Certificate of Operation received for adult-use. |
| Manufacturing Facility (Jackson, Ohio) | Fully operational. |
| Herbal Wellness Center (Jackson, Ohio) | Fully operational as a medical and adult-use dispensary. |
| Herbal Wellness Center (Columbus, Ohio) | Fully operational as a medical and adult-use dispensary. |
| Herbal Wellness Center (Athens, Ohio) | Fully operational as a medical and adult-use dispensary. |
| Herbal Wellness Center (Jeffersonville, Ohio) | Fully operational as a medical and adult-use dispensary. |
| Dispensary 5 (Portsmouth, Ohio) | Fully operational as a medical and adult-use dispensary. Awaiting license transfer for full consolidation; Expected in Q3 or Q4 2025. |
| Dispensary 6 (Fairfield, Ohio) | Provisional dual-use license received. Awaiting Certificate of Operation. Expected to be operational by Q4 2025. |
| Dispensaries 7 and 8 (Granted approval to develop 2 additional dual-use dispensaries) | As a Tier 1 Cultivator, Vext has received approval under the DCC's 10(B) license program to develop three dual-use dispensaries, including Dispensary 6. Target locations for the remaining dispensaries have been identified and will be announced when provisional permits are issued by the DCC. |
For more details, visit Vext's investor website or contact the IR team at investors@vextscience.com.
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. Vext's leadership team brings a proven track record of building and operating profitable multi-state operations. 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
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in Vext's periodic filings with Canadian securities regulators. When used in this news release, words such as "will, could, plan, estimate, expect, intend, may, potential, believe, should," and similar expressions, are forward-looking statements.
Forward-looking statements may include, without limitation, statements regarding future developments and the business and operations of Vext, including but not limited to the Company's expansion in Ohio and the anticipated results therefrom, the receipt of applicable regulatory approvals, the acquisition of additional licenses, and the development and opening of additional dispensaries in Ohio, all of which are subject to the risk factors contained in Vext's continuous disclosure filed on SEDAR+ at www.sedarplus.ca.
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, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; being engaged in activities currently considered illegal under U.S. Federal laws; change in laws; reliance on management; requirements for additional financing; competition; hindered market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry; and regulatory or political change.
There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. Because of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. Vext disclaims any intention or obligation to update or revise such information, except as required by applicable law, and Vext does not assume any liability for disclosure relating to any other company mentioned herein.
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.
[1] As a Tier 1 Cultivator, Vext has received approval under the Ohio Division of Cannabis Control's (DCC) 10(B) license program to develop three additional dual-use dispensaries, including Fairfield, putting Vext on track to reach the state license cap of eight dispensaries by early 2026.
[2] With the completion of the Ohio Expansion Transaction, Vext has secured the right to transfer ownership of the Portsmouth dispensary. The Portsmouth dispensary commenced operations and officially opened to the public on Friday, June 13, 2025. The Company is advancing the license transfer process with state regulators and expects the transfer to be completed in Q3 or Q4 2025.
[3] Vext has been granted approval to develop dispensaries 7 and 8 under the DCC's 10(B) license program. As noted in the above chart, target locations have been identified but currently there are no associated facilities.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/256502
SOURCE: VEXT Science, Inc.
