VEXT Science Strengthens Executive Team and Appointment of New Directors
Vancouver, British Columbia, February 18, 2020 /CNW/ – VEXT Science, Inc. (CSE: VEXT) (“VEXT” or the “Company”) is pleased to appoint Mr. Eric Offenberger as CEO and Director and Mrs. Caroline Williams as an independent board member.
Mr. Offenberger has been the Chief Operating Officer of VEXT since joining the Company in 2018. Prior to joining VEXT, Mr. Offenberger was President and Chief Operating Officer of Delta Steel, a Reliance Steel and Aluminum company. His background with multi state operations and manufacturing has been key to building the VEXT’s manufacturing capabilities, and instrumental to developing and executing the Company’s joint venture partnership strategy. Mr. Offenberger is replacing Thai Nguyen, who is stepping into the role of Executive Chairman and Founder.
Mr. Nguyen founded VEXT, Inc. in 2012 and lead the efforts to open a vertically integrated cannabis company that has shown strong financial performance. Going forward, he will be focused on executing the Company’s growth strategy and working directly with the joint venture partnerships to ensure the timely commencement of new start-ups and overseeing the process of bringing them online. Mr. Nguyen’s direct experience of building profitable operations in the cannabis space will benefit the Company’s plan to generate future cash flow from its partnerships.
The Company has appointed Caroline Williams to its board of directors. Ms. Williams is based in Toronto, Ontario and has extensive experience in retail operations. Ms. Williams has been involved in several charity organizations and currently serves as a board member for MLB UMPSCARE. Ms. Williams background in managing, growing and improving retail operations will be beneficial to VEXT as the Company expands its distribution and dispensary business in new markets.
Thai Nguyen, Executive Chairman and Founder, commented, “The new leadership structure will improve our ability to execute our strategy of expanding the business into new states through joint venture partnerships. Each opportunity is a little different and requires support and oversight to launch successfully. Eric and I will be working hand-in-glove, with Eric focused on the deal structures and handling support of the new ventures. I will remain heavily involved in the business, spending more time working directly with the partnerships to ensure quicker performance on the start-ups.”
“We are very fortunate to have Caroline join our board of directors. Her background in retail management at large companies with a focus on growth and cost management will be extremely valuable to our board as we expand our business and deliver on our commitment to improve shareholder value,” continued Mr. Nguyen.
About Vext Science
Vext Science, Inc. is a US-based Cannabis THC and hemp cannabinoid products company manufacturing 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 brand. Based in Arizona, Vext Science, Inc. has one of the leading THC concentrates, edibles, and distillate cartridge brands sold in the majority of the state’s 100+ dispensaries. Herbal Wellness Center is one of Arizona’s leading dispensaries and we execute all aspects of the cultivation, extraction, edibles infusion and manufacturing processes which insures a product of the highest quality and purity. Product quality and purity are core to our marketing strategy. Vext Science, Inc. is executing its business growth by leveraging experience and expertise in extractions, product manufacturing, and marketing to expand in the U.S. and internationally through revenue and profit-sharing joint venture partnerships. For more information visit our website at www.VextScience.com.
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 related to future developments and the business and operations of VEXT.
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.
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