Vext Secures State Approval for Portsmouth Dispensary Ownership Transfer

Core Insights - Vext Science, Inc. has received regulatory approval to transfer ownership of the Herbal Wellness Center dispensary in Portsmouth, Ohio, which will become its fifth fully consolidated dispensary in the state by October 1, 2025 [1][2][14] - The company is actively working on three additional dispensary locations in Ohio, aiming to reach the maximum state cap of eight dispensaries by early 2026 [3][13] Company Expansion Strategy - The acquisition of the Portsmouth dispensary is part of Vext's disciplined growth strategy in Ohio, enhancing its retail footprint and supporting margin expansion and cash flow generation [2][3] - Vext's commitment to compliance, community engagement, and high-quality product delivery is central to its operational success in the growing Ohio cannabis market [2] Operational Status - The Portsmouth Dispensary features a drive-thru for customer convenience and was granted a provisional license under the Ohio Division of Cannabis Control [2] - Vext's existing facilities in Ohio include fully operational cultivation and manufacturing facilities, as well as multiple dispensaries serving both medical and adult-use consumers [4][7] Future Developments - Vext plans to open additional dispensaries, with the sixth dispensary in Fairfield, Ohio, expected to be operational by Q4 2025 [6] - The company has identified target locations for two more dispensaries, pending the issuance of provisional permits [6][13]