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, today announced that it has signed a Memorandum of Understanding (“MOU”) with SōRSE Technology Corp. (“SōRSE”) to exclusively produce and sell SōRSE’s MAJOR cannabis-infused beverages in Arizona. SōRSE is a leader in water-soluble emulsion technology for integrating functional ingredients into commercially available consumer packaged goods. Vext expects to begin selling MAJOR beverages in August 2021.
Eric Offenberger, CEO of Vext commented, “SōRSE’s proprietary infusion technology and know-how, powers some of the top cannabis beverage brands in the U.S. today and we are excited to announce this deal to bring MAJOR beverages – produced and sold by Vapen – to consumers in Arizona. Our in-house Vapen brand is consistently one of the top brands in Arizona, with prominent placement in both our operated Phoenix dispensaries, as well as the vast majority of third-party dispensaries in the state. Beverages are a key growth segment, and will round-out Vapen’s offering of concentrates, extracts, edibles, vapes, topicals and tinctures.”
MAJOR is designed as a high dose THC beverage that delivers a consistent and enjoyable cannabis experience with no cannabis taste or smell. MAJOR is available in five flavours: Orange Mango, Pink Lemonade, Blue Raspberry, Passion Fruit, and Grape. MAJOR beverages are offered in 200ml serving sizes, with 100mg of THC. Data from Headset recently found that MAJOR was the top selling cannabis beverage brand in the U.S. during Q1 20211.
Under the MOU, SōRSE will provide all know how and formulations for the creation of MAJOR 100mg THC cannabis-infused beverages, and Vext will provide licensed space for the production and storage of products, and produce beverages for sale. Vext will pay an initial royalty of US$100,000 upon the signing of a final agreement, pay a fixed price for SōRSE emulsion, and pay a fixed price per unit produced, to SōRSE. Vext may also choose to manufacture SōRSE’s other existing formulations and/or use SōRSE emulsions to develop additional products under the Vapen brand, for which it will pay SōRSE a royalty.