Just like many other institutions across the globe, the pandemics and public health emergencies, including those related to COVID-19, impacted heavily on Vext Science Inc. (OTCMKTS: VEXTF) Manufacturing, supply chain, project development, and shipping are some of the areas, which faced severe disruptions, including shutdowns. Nonetheless, even with these challenges, and the underlying uncertainty of how long the pandemic persists, the company still seeks to grow its network.
The cannabinoid brand leader based in Arizona has inked a Memorandum of Understanding with SōRSE Technology Corp. Given its expertise in extraction, manufacturing, cultivation, and marketing, VEXTF will exclusively produce and sell SōRSE’s MAJOR cannabis-infused beverages in Arizona.
The MOU outlines that SōRSE provides all know-how and formulations for creating MAJOR 100mg THC cannabis-infused beverages. Meanwhile, upon the signing of a final agreement, Vext will part with an initial royalty of US$100,000, a fixed price for SōRSE emulsion, and later on a fixed price per unit produced.
Beverages are a Key Growth Segment for Vext
MAJOR is supposedly a high-dose THC beverage known to deliver a consistent and enjoyable cannabis experience. It does not have any cannabis taste or smell and is available in Orange Mango, Pink Lemonade, Blue Raspberry, Passion Fruit, and Grape flavors. Recent data from Headset revealed that it was the top-selling cannabis beverage brand in the U.S. during Q1 20211.
This explains the reason why Vext considers beverages a primary area of revenue growth. “…we are excited to announce this deal to bring MAJOR beverages – produced and sold by Vapen – to consumers in Arizona… and will round-out Vapen’s offering of concentrates, extracts, edibles, vapes, topicals and tinctures,” Eric Offenberger, CEO of Vext announced.
Approval to Build and Operate a State-Of-The-Art Medical Cannabis Cultivation Operation
Vext Science, Inc. treats product quality and purity as their core marketing strategies. Hence, the closure of the $4.3 million in cash purchase of Eloy Facility, a vacant 72,000 square foot industrial located in Arizona, is worth celebrating. Additional good news is that the facility occupies ample land for future expansion. Still, once it is operational, it will offer 58,000 square feet indoor capacity under a canopy and 10 acres of outdoor capacity.
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