REDDING, Calif., Feb. 26, 2020 (GLOBE NEWSWIRE) — Vibe Bioscience Ltd. (CSE: VIBE) (the “Company” or “Vibe”), a vertically integrated cannabis retailer and cultivator, proudly announces that Michael Carlson, who serves in a management capacity, has opened the retail dispensary at 3270 South Market Street in Redding, California (the “Redding Store”). The opening of the Redding Store location is subject to the satisfaction of certain conditions of approval obtained on February 25, 2020, and Vibe and its management team are working closely with the City of Redding with regard to local and state regulations.
“Redding is one of the finest recreational areas in California and our Redding dispensary will meet the needs of Redding and Shasta County residents offering a large variety of products including online ordering at vibebycalifornia.com with express pickup,” said Mark Waldron, Chief Executive Officer of Vibe. “The dispensary is centrally located on South Market Street in Redding with easy access and ample parking. We are excited to continue to expand our footprint in California, offering another opportunity to share Vibe by California’s unique brand with consumers looking to indulge in premier cannabis products combined with the exceptional service of our knowledgeable local Redding staff.”
Vibe continues to expand its footprint in the State of California and management is currently exploring additional opportunities to add additional cannabis assets to its portfolio in 2020.
About Vibe Bioscience Ltd.
Vibe is a vertically integrated cannabis company delivering exceptional retail experiences with its Vibe by California brand and ethos, premier cultivation product and high-efficiency delivery and distribution. The Company’s management team brings expertise in retail, cannabis cultivation and mergers and acquisitions to support its U.S. expansion through accretive acquisitions and organic growth.
The Company’s stock is traded on the Canadian Stock Exchange under the symbol VIBE. For more information, please visit http://www.vibebycalifornia.com.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “anticipate”, “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the parties’ current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially.
Forward-looking information in this press release include statements concerning Vibe’s expectations that the Redding Store will enhance the Company’s profitability, grow market share, generate brand equity and drive shareholder value and all other statements that are not statements of historical fact.
The forward-looking information contained in this press release is made as of the date hereof and the Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein. Risk factors related to the Company are described in the Company’s Listing Statement dated March 25, 2019 and most recently filed management’s discussion and analysis, copies of which are available under the Company’s profile on the SEDAR website at http://www.sedar.com.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any State securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable State securities laws or an exemption from such registration is available. Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. securities laws.
Unlike in Canada which has Federal legislation uniformly governing the cultivation, distribution, sale and possession of medical cannabis under the Cannabis Act (Federal), readers are cautioned that in the U.S., cannabis is largely regulated at the State level. To the knowledge of Vibe Bioscience Ltd., there are to date a total of 33 states, plus the District of Columbia, that have legalized cannabis in some form. Notwithstanding the permissive regulatory environment of medical cannabis at the State level, cannabis continues to be categorized as a controlled substance under the Controlled Substances Act in the U.S. and as such, cannabis-related practices or activities, including without limitation, the manufacture, importation, possession, use or distribution of cannabis are illegal under U.S. Federal law. Strict compliance with State laws with respect to cannabis will neither absolve Vibe Bioscience Ltd. of liability under the U.S. Federal law, nor will it provide a defense to any Federal proceeding, which may be brought against Vibe Bioscience Ltd. Any such proceedings brought against Vibe Bioscience Ltd. may adversely affect its operations and financial performance.
Investor Relations Contact:
Phone: +1 833-420-VIBE x 107
Get Real-Time Updates from MJobserver.com