Vibe keeps rolling with 7th retail dispensary, located in California’s Coachella Valley
Sacramento, California–(Newsfile Corp. – April 7, 2021) – Vibe Growth Corporation (CSE: VIBE) (OTC PINK: VBSCF) (FSE: A061) (the “Company” or “Vibe”), a vertically integrated California cannabis enterprise, is pleased to announce that it has entered into a definitive agreement to purchase Desert Organic Solutions Collective (“Desert Organics”), located in Palm Springs, California.
Under the terms of the acquisition, Vibe will purchase the assets, inventory, and lease for the 2,838 square foot licensed, adult-use dispensary located in Palm Springs, California for a cash consideration of $380,000 and assumption of existing and estimated liabilities of USD $1.8 million. The closing of the transaction is subject to the satisfaction of certain conditions of the license ownership transfer; Vibe and its management team intend to work with the City of Palm Springs concerning local and state regulations. The Company intends to rename the location under its iconic Vibe By CaliforniaTM brand, enhance the product offering and add online ordering with express pickup & delivery.
The newly acquired location will represent Vibe’s seventh cannabis dispensary as the Company continues to rapidly expand its retail cannabis dispensary footprint across California. The Palm Springs location follows the