Subjects: PLW, MAT
Vext Science Announces Filing of Provisional Patent Application
Crystallized phytocannabinoid acids are non-psychoactive and have potential pharmaceutical applications
VANCOUVER, BC, Sept. 20, 2022 /CNW/ - Vext Science, Inc. ("Vext" or the "Company") (CSE: VEXT) (OTCQX: VEXTF) a cannabinoid brand leader based in Arizona, leveraging its core expertise in extraction, manufacturing, cultivation and marketing to build a profitable multi-state footprint, announced today that its research and development team has filed a provisional patent application (the "Patent") with the United States Patent Office ("USPTO") in collaboration with researchers at BioSciTech and Arizona State University ("ASU").
The patent covers new crystalline forms of phytocannabinoid acids, a class of non-psychoactive natural products isolated from the cannabis sativa plant, several of which have been proven to be pharmaceutically active1. Crystallized phytocannabinoids have been proven to be the most effective method to ensure pharmaceutical level purity for processing and production2. These crystalline forms also have improved shelf-life and bioavailability compared to the natural forms. Studies have also indicated that phytocannabinoid acids have anti-inflammatory properties, and may be applicable as anti-virals3.
Eric Offenberger, CEO of Vext commented, "The filing of this provisional patent is a first step in what is a significant effort by our R&D team towards continuing to expand our portfolio of innovative cannabis products. We are pleased to partner with the well-regarded research teams at ASU and BioSciTech to highlight the potentially wide-ranging applications and benefits of naturally produced phytocannabinoid acids, and look forward to leaning on their expertise, as we explore commercialization within the pharmaceutical industry."
For more details, visit Vext's investor website or contact the IR team at [email protected].
About Vext Science, Inc.
Vext Science, Inc. is a US cannabinoid products company manufacturing cartridges, concentrates, edibles and accessories under the Vapentm, Pure Touch Botanicals and Vapen CBD brands. Vext's Vapen brand is one of the leading cartridge brands in the Company's home state of Arizona, sold in most of the state's 100+ dispensaries. Vext is vertically integrated in Arizona, with current cultivation in Phoenix and Prescott Valley, manufacturing in Phoenix and two retail locations in Phoenix, under the Herbal Wellness Center banner. Vext is also currently building-out a vertically integrated footprint in the Ohio market, through joint venture partners. For more information visit the Company's website at www.VextScience.com.
For more details on the Vapen brand:
Vapen website: VapenBrands.com
Instagram: @vapen
Facebook: @vapenclear
COVID-19 Risk Factor
Vext may be impacted by business interruptions resulting from pandemics and public health emergencies, including those related to COVID-19. An outbreak of infectious disease, a pandemic, or a similar public health threat, such as the recent outbreak of COVID-19, or a fear of any of the foregoing, could adversely impact Vext by causing operating, manufacturing, supply chain, and project development delays and disruptions, labor shortages, travel, and shipping disruption and shutdowns (including as a result of government regulation and prevention measures). It is unknown whether and how Vext may be affected if such a pandemic persists for an extended period of time, including as a result of the waiver of regulatory requirements or the implementation of emergency regulations to which Vext is subject. Although Vext has been deemed essential and/or has been permitted to continue operating its facilities in the states in which it operates during the pendency of the COVID-19 pandemic, there is no assurance that the Company's operations will continue to be deemed essential and/or will continue to be permitted to operate. Vext may incur expenses or delays relating to such events outside of its control, which could have a material adverse impact on its business, operating results, financial condition and the trading price of the Company's Common Shares.
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 COVID-19, 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.
Eric Offenberger
Chief Executive Officer
844-211-3725
SOURCE Vext Science
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