SACRAMENTO, California, December 10, 2020 – Vibe Growth Corporation (CSE:VIBE, OTC:VBSCF, FSE:A061) (the “Company” or “Vibe”), a leading vertically integrated multi-state cannabis enterprise, is pleased to announce successful trials from its Multiplier Yield Expansion Program (“MYEP”) in its Sacramento facility, and MYEP’s launch at its Crescent City cultivation site. In connection with this launch, Vibe has expanded its California cultivation operations team.
MYEP is an integral part of Vibe’s expansion plans for California cultivation. With its existing assets, Vibe expects significantly increased earnings from cultivation in 2021 due to MYEP, and is conducting acquisition due diligence on certain additional cultivation assets in California. MYEP’s innovative cultivation methods and operating procedures have improved trial output in both product quality and yields in Vibe’s Sacramento cultivation facility.
Additionally, the previously announced expansion of the Company’s Crescent City cultivation facility “CC7” has been completed. Vibe will immediately implement MYEP’s new Standard Operating Procedures (SOP), cultivation methods and introduce enhanced genetic varieties in the expanded CC7 facility.
“Vibe’s enhanced genetics and updated operating procedures have significantly enhanced cultivation operations, resulting in quantifiable improvements to both quality and yield. The optimized company-wide cultivation processes will yield a wide variety of high-quality cannabis flower to satisfy the heightened demand for our Hype Cannabis Co. products,” said Joe Starr, COO of Vibe.
About Vibe Growth Corporation
Vibe is a trusted, vertically integrated, multi-state cannabis organization that proudly serves hundreds of thousands of clients annually through its retail dispensaries and operates cannabis greenhouse cultivation; premium indoor cultivation; commercial cannabis distribution, e-commerce, home delivery, and manufacturers Hype Cannabis Co. marijuana products. The Company operates retail and e-commerce under its iconic Vibe By California brand. Vibe is listed on the Canadian Securities Exchange under the symbol VIBE, on the OTC as VBSCF, and in Germany as A061. To learn more about Vibe, please visit 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, and may be impacted as a result of general economic conditions or the ongoing COVID-19 pandemic. Actual future results may differ materially.
The forward-looking information contained in this release is made as of the date hereof and the parties are not obligated 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 Management Discussion and Analysis, a copy of which is available under the Company’s profile on SEDAR.
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 Growth Corporation, 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 Growth Corporation of liability under the U.S. Federal law, nor will it provide a defense to any Federal proceeding, which may be brought against Vibe Growth Corporation. Any such proceedings brought against Vibe Growth Corporation may adversely affect its operations and financial performance.
Mark Waldron, CEO
Joe Starr, COO
Phone: +1 833-420-VIBE
Email: [email protected]