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New Listing: Vibe Bioscience Ltd. (CSE:VIBE)

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The company is a vertically integrated cannabis company that owns, operates, and develops cannabis assets in California market, the 5th largest economy in the world, driven by an affluent population of 40 million people and 250 million annual tourists.

Additional Information:

Company: Vibe Bioscience Ltd.
Website: http://www.vibebioscience.ca
Stock Symbol: CSE: VIBE
Date Published: Apr 3, 2019
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Vibe Bioscience Ltd. is one of the latest new listing on the Canadian Securities Exchange, trading under the symbol “VIBE”, following a reverse takeover of Altitude Resources, which previously traded on the TSX Venture Exchange.

The company is a vertically integrated cannabis company that owns, operates, and develops cannabis assets in California market, the 5th largest economy in the world, driven by an affluent population of 40 million people and 250 million annual tourists.

Through wholly-owned subsidiaries, the company owns and operates two adult-use dispensaries in Sacramento and Stockton, California, with two additional dispensaries set to open in the second half of 2019.

The latest acquisition, located in Redding, California and currently under development, will serve a metro area population of approximately 178,000 residents.

Upon completion, Vibe expects the Redding Site to have the potential to generate up to C$5.5 million in revenue during its first 12 months of operations based on management's analysis of trends, current conditions and expected future developments.

Mark Waldron, CEO, stated: “Our latest acquisition plans exemplify Vibe’s strategy to aggressively expand our ‘Vibe by California’ brand, retail, delivery, cultivation, and distribution presence in the world’s most sought-after cannabis market. Our multi-state acquisition pipeline remains robust and includes non-binding letters of intent for several additional dispensary locations in the California market, and we look forward to bringing the ‘Vibe by California’ brand and ethos to Shasta County’s visitors and residents this summer.”

Other assets include a cultivation site in Sacramento, a distribution center under development in Sacramento with a state-wide distributor temporary license, a conditional use permit for mobile delivery issued by the City of Sacramento and real-estate to allow further expansion.

Vibe’s cultivation facility produces Hype Cannabis branded products, which are high-quality, hand-trimmed, and cured in limited batches.

The shares are trading at $0.82.

For more information, please visit the company’s website www.vibebioscience.ca, contact Ryan Mercier, CFO at 1-833-420-VIBE ext 102 or email ryanm@vibebioscience.com or Tyler R. Townsend, VP Finance at 1-833-420-VIBE ext 107 or email tylert@vibebioscience.com.

I’m Megan Edwards for Investmentpitch Media