Vibe Acquires California Retail Cannabis License

Vibe Bioscience (CSE:VIBE) has completed its acquisition of all of the membership interests in the outstanding securities of EVR Managers, which includes a license for an adult-use cannabis retail operation located in Redding, California.

As quoted in the press release:

The Redding Acquisition was previously announced on April 3 and May 30, 2019 and the transaction closed on December 30, 2019.

The closing of the Redding Acquisition was subject to the satisfaction of certain closing conditions, including the completion of certain necessary structural improvements and renovations to the Redding Site. Management of Vibe expects the Redding Site to be open to the public upon completion of Municipal and State inspections in January 2020.

“Our customers are increasingly looking for a large variety of in-stock products, helpful staff and convenience. Our Redding dispensary will meet the needs of our clientele by offering a large variety of products including online ordering with real-time inventory availability,” said Mark Waldron, Chief Executive Officer of Vibe.

Click here to read the full press release.