Cannabis Company Doubles Down On Ohio, Acquires Two Shops In Major Deal As Legalization Vote Looms
Portfolio Pulse from Jelena Martinovic
Vext Science, Inc. (OTCQX:VEXTF) has announced an agreement to acquire two cannabis dispensaries in Ohio from Big Perm's Dispensary Ohio, LLC for $9.4 million in cash. The deal is subject to regulatory approval by the Ohio Board of Pharmacy. Vext will also fund approximately $3.4 million of construction costs related to the dispensaries and provide administrative, operational and support services to Big Perm. The company is positioning itself for growth in Ohio ahead of the state's recreational legalization vote in November 2023.
October 16, 2023 | 1:37 pm
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Vext Science's acquisition of two dispensaries in Ohio could position the company for growth in the state's cannabis market, particularly if recreational use is legalized in the upcoming vote. However, the deal is subject to regulatory approval and the company's shares traded lower following the announcement.
The acquisition could potentially boost Vext Science's presence in Ohio's cannabis market, particularly if the state legalizes recreational use. However, the deal is still subject to regulatory approval and the company's shares traded lower following the announcement, indicating some investor uncertainty.
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