- Cannabis company, Vext Science (CSE:VEXT) has started production and sales of THC extracts for its Oklahoma joint venture, VAPEN OK
- The joint venture’s product comes from its outdoor cultivation capacity and state-of-the-art processing and extraction facility
- The VAPEN OK sales team is now selling VAPEN-branded products in Oklahoma’s licensed dispensaries
- Oklahoma is one of the biggest markets for medical cannabis in the US, spending over C$350 million in 2019
- Vext Science (VEXT) is down 6.67 per cent and is currently trading at 42 cents per share
Cannabis company, Vext Science (CSE:VEXT) has started production and sales of THC extracts for its Oklahoma joint venture, VAPEN OK.
The VAPEN-Oklahoma LLC venture will produce, market, and sell a full line of VAPEN-branded THC extract products. Its product comes from an outdoor cultivation capacity, which supplies quality biomass to a state-of-the-art processing and extraction facility.
The facility is now online, thanks to the venture’s on-site production team, and producing THC extracts for the VAPEN brand. The VAPEN OK sales team is already selling VAPEN-branded products in Oklahoma’s licensed dispensaries.
The State of Oklahoma is currently one of the biggest markets for medical cannabis in the United States.
The state has the highest number of dispensaries per 100,000 residents, in states with legalised medical marijuana. Over six per cent of the Oklahoman population holds a medical marijuana patient license.
In 2019, the citizens of Oklahoma spent over C$350 million on marijuana and marijuana-related products.
Vext Science’s CEO, Eric Offenburger, said that the company is successfully launching joint ventures in new states in 2020.
“With VAPEN OK fully operational, and the others coming on stream, we are demonstrating our ability to execute our growth strategy.
“We will continue to open new markets with in-state partners that have a vested interest in the success of our programs.
“Our growth model minimises operational and financial risks, while expanding our geographic presence with minimal capital investment,” he said.
Vext Science (VEXT) is down 6.67 per cent and is currently trading at 42 cents per share at 9:33am EDT.
