Vext Science

About Vext Science

Vext Science, Inc. operates as a vertically integrated, multi-state cannabis company in the United States, with a strategic focus on the Arizona and Ohio markets. The company was founded by Thai Nguyen and was initially known as Vapen MJ Ventures Corporation before rebranding to Vext Science in November 2019 to better reflect its expanding footprint and science-based approach to cannabinoid product manufacturing. Nguyen, who has a background in real estate and high-performance automotive ventures, developed the initial Vapen brand in 2013 to supply Arizona dispensaries. He transitioned from his executive role in January 2024 but remains Chairman of the Board.

The core of Vext's business is a full vertical integration model, which encompasses cultivation, extraction, manufacturing, wholesale distribution, and retail sales. This structure provides the company with control over its supply chain, from producing its own in-house flower to getting products onto the shelves of its dispensaries. Vext operates state-of-the-art cultivation and manufacturing facilities in its core markets. Revenue is generated through the retail sales of cannabis products in its company-owned dispensaries and through the wholesale distribution of its branded products to other dispensaries. The company has reported profitability since 2016 and has shown significant revenue growth, particularly with the expansion of the adult-use market in Ohio.

Vext's flagship brand is Vapen™, recognized in Arizona for its THC concentrates, edibles, and distillate cartridges. The company's product portfolio also includes other brands like Pure Touch, Appalachian Pharm, and Herbal Wellness. The business model is centered on establishing a strong retail presence in limited-license states, with a strategy of targeting non-urban areas with less competition. Vext is actively expanding its retail footprint in Ohio, with a goal of reaching the state's dispensary license cap. Its dispensaries, which operate under the Herbal Wellness Center name, serve both medical and adult-use customers and some locations feature conveniences like drive-thru service.