Sacramento, California–(Newsfile Corp. – December 21, 2020) – Vibe Growth Corporation (CSE: VIBE) (OTC Pink: VBSCF) (FSE: A061) (the “Company” or “Vibe”), a vertically integrated multi-state cannabis enterprise, this afternoon obtained local approval for its 5th retail cannabis dispensary. The City of Ukiah has given approval for a prime location in Ukiah, California subject to certain standard conditions (the “Ukiah Dispensary”).
The local approval permits both a retail cannabis dispensary and non-volatile cannabis manufacturing, upon receipt of customary regulatory approvals. The Ukiah Dispensary will represent the Company’s 5th retail location, as Vibe By California continues to rapidly grow its brand. Increased demand for Vibe By California and Hype Cannabis Co. products by consumers insisting on premier cannabis products combined with excellent service standards is fueling a retail expansion for Vibe By California.
Vibe’s CEO, Mark Waldron, commented: “We could not be more excited about adding our 5th store in Ukiah, California. The demographics are terrific, and we expect this store to be a major retail success for Vibe By California in the 1st quarter of 2021. We continue to grow our retail footprint and establish Vibe By California as one of the largest cannabis retailers in California.”
Vibe By California has continued to surpass internal sales projections in 2020 and is setting new retail sales records at its Sacramento, Stockton, and Redding locations. Vibe is eager to expand its model in select California markets and management is currently actively exploring opportunities to add new dispensary and cultivation assets to its portfolio in 2021.
About Vibe Growth Corporation
Vibe Growth Corporation and its cannabis retail brand, Vibe By California, 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. 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.
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