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Cannabis Stock News: Vibe (CSE: VIBE) (OTC: VBSCF) Announces Closing of Acquisition of Northern California Licensed Operating Cultivation Site and Planned Expansion of Cultivation Operations

Date:

Jun 13, 2020 (MENAFN via COMTEX) —

(MENAFN – Investor Ideas) SACRAMENTO, Calif. – June 12, 2020 (Investorideas.com Newswire) Vibe Bioscience Ltd. (CSE:VIBE)(OTC:VBSCF) (the “Company” or “Vibe”), a vertically integrated cannabis retailer and marijuana cultivator, is pleased to announce the closing of the acquisition of a 13,500 square foot operating cannabis cultivation facility in Crescent City, California and a phased plan to increase cultivation canopy by 40 per cent.

“Vibe is very excited to complete the acquisition of this high-quality cultivation facility in Crescent City, California. This represents a unique and strategic opportunity for Vibe to add premium cultivation capacity to our existing Hype Cannabis Co. high-quality flower, distillate vape cartridges, and wax concentrates,” said Vibe CEO Mark Waldron. “Our planned expansion of the cultivation canopy by 40% will enhance Vibe’s supply chain and help Vibe meet the extraordinary demand we are seeing in our stores for high-quality flower and Hype Cannabis Co. products.”

This transaction finalizes the completion of Vibe’s previously announced purchase and sale agreement with the security holders of NGEV Inc. (“NGEV”) to acquire all of its issued and outstanding…

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Source: https://mmpconnect.com/cannabis-stock-news-vibe-cse-vibe-otc-vbscf-announces-closing-of-acquisition-of-northern-california-licensed-operating-cultivation-site-and-planned-expansion-of-cultivation-operations/

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