More good vibes as Company signs lease for its sixth dispensary location in Salinas, California
Sacramento, California–(Newsfile Corp. – March 18, 2021) – Vibe Growth Corporation (CSE: VIBE) (OTC: VBSCF) (FSE: A061) (the “Company” or “Vibe”), a vertically integrated California cannabis enterprise, is pleased to announce that it has entered into a lease agreement for a commercial property (the “Property”) in metro Salinas, California, entitled by Monterey County to allow for a retail cannabis dispensary.
Vibe anticipates its newest dispensary will open in the third quarter of 2021, once required licenses and approvals have been obtained, and will become Vibe’s sixth dispensary location. The Company’s recently closed financings totaling $15.9 million, including a $13.8 million bought-deal that was upsized from an initially announced $8 million. Vibe is positioned to further execute its growth strategy of rapidly expanding its retail dispensary portfolio and scaling its business in California.
Vibe’s new Salinas dispensary will serve the 435,000 residents of metropolitan Salinas, and join the Company’s existing locations in Sacramento, Stockton, Redding, and Ukiah, California, and Portland, Oregon. The Vibe management team continues to actively explore expansion opportunities as it looks to add both new dispensary and cultivation assets to its portfolio and meet the growing demand for its Vibe By California and Hype Cannabis Co. products.
“Monterey County was a primary expansion target of ours,” stated Mark Waldron, CEO of Vibe. “We are excited about opening the Salinas dispensary, upon final licensing and approval, and are proud to say that Vibe looks forward to providing its customers with the largest selection of premium cannabis products grown right in the Salinas Valley.”
About Vibe Growth Corporation
Vibe Growth Corporation and its cannabis retail brand, Vibe By California, is a trusted, vertically integrated California cannabis enterprise with retail dispensaries; cannabis greenhouse cultivation; premium indoor cultivation; commercial cannabis distribution; brand sales