Vext Advances Ohio Expansion with Seventh Retail Location

Executive Summary

• Vext Science received a provisional dual‑use license for its seventh Ohio dispensary in Columbus, with construction slated to start March 2026 and operations targeted for Q4 2026.
• The $3.3 M capital project adds a high‑visibility, drive‑thru retail location near I‑270, advancing Vext toward the state’s eight‑store cap.
• The expansion reinforces Vext’s vertically integrated platform in Ohio, supporting projected operating leverage and cash‑flow growth as additional stores come online.

Key Details

• License: Provisional dual‑use (medical & adult‑use) dispensary license granted by Ohio Division of Cannabis Control for Columbus location.
• Location: West side of Columbus, near I‑270 and Roberts Road interchange; adjacent to Hilliard with strong beltway visibility.
• Construction Timeline: Build‑out agreement executed; construction begins March 2026; store opening expected Q4 2026, subject to final regulatory approvals.
• Capital Expenditure: Estimated total cost ≈ US$3.3 million (land acquisition + construction of standalone facility with drive‑thru).
• Strategic Impact: Marks Vext’s 7th Ohio dispensary and 2nd in Columbus; moves the company toward the state‑maximum of eight dispensaries, enhancing retail footprint and margin potential.
• Current Ohio Footprint (summary):
• Tier 1 cultivation facility – 25,000 sq ft (expandable to 50,000 sq ft).
• Manufacturing facility – fully operational.
• Six fully operational Herbal Wellness Centers (Jackson, Columbus, Athens, Jeffersonville, Portsmouth, Fairfield pending).
• Dispensary 6 (Fairfield) under construction, expected Q2 2026; Dispensary 7 (Columbus) now approved, expected Q4 2026.
• Future Plans: Approval received to develop a third dual‑use dispensary (Dispensary 8); location to be announced after provisional permit issuance.

Notable Quotes

“Securing our seventh Ohio dispensary license is another important step in our disciplined retail expansion… Each new store extends the leverage of our vertically integrated platform and reinforces our margin and cash flow trajectory.” – Eric Offenberger, CEO