Acquisition of ONE Cannabis Group, Parent Company of Dispensary Franchise Unity Rd., Paves a New Path of Industry Innovation as the Leading National Vertically Integrated Cannabis Franchise Company
Phoenix, AZ – March 23, 2021 – Item 9 Labs Corp. (OTCQX: INLB) (“Item 9 Labs” or the “Company”), a vertically integrated cannabis operator that produces premium products, today announced the closing of its acquisition of ONE Cannabis Group (“OCG Inc.”), parent company of cannabis dispensary franchise Unity Rd. The combination creates a differentiated business model that offers premium products and distribution through an expanding network of dispensary franchises. Resulting synergies and benefits from the transaction include expanded business offering and expertise, operational efficiencies, cost savings, and revenue upside. Additionally, the acquisition creates new opportunities in the cannabis sector by providing solutions to industry challenges commonly faced by existing business owners, prospective entrepreneurs, and consumers.
Item 9 Labs produces award-winning and best-in-class products from its large-scale cultivation site and production facilities. Headquartered in Arizona, the Company is expanding its operations space by 650,000+ square feet on its 50-acre site, one of the largest properties in Arizona zoned to grow and cultivate flower. It also owns and operates DispensaryPermits.com and DispensaryTemplates.com, leading online platforms for information surrounding cannabis business applications, regulations and state updates. Colorado-based OCG Inc. brings the stability, scalability, and brand continuity of franchising to the budding and fragmented world of cannabis through its retail franchise Unity Rd. Named one of the top cannabis retail leaders in the nation by MJBizDaily magazine and the first cannabis business to earn a Franchise Times Dealmakers award, OCG Inc. helps eager participants enter the complex industry with ease by leveraging its legal cannabis business experience and trusted resources under the distinct Unity Rd. brand.
“Blending our premium, experiential cannabis brand with a true dispensary franchise model puts Item 9 Labs in a unique position to capitalize on opportunities in a dynamic and rapidly evolving regulatory environment. ONE Cannabis Group perfectly complements and enhances our existing offerings by creating a built-in platform for national distribution of our products and brands through the Unity Rd. franchise network,” said Item 9 Labs CEO Andrew Bowden. “Having immediate entry points into states where Unity Rd. is building presence is expected to drive margin expansion across multiple markets and strengthen our profitability.”
This acquisition creates one of the first vertically integrated cannabis franchises in the U.S. The reduced capital expenditure (CapEx) franchise model provides accelerated scale for Item 9 Labs and Unity Rd., while keeping dispensaries locally owned and operated. In contrast to existing multi-state operators (MSOs), the franchise model requires reduced corporate capital requirements for development of the dispensary brand, as franchisees own and operate their own businesses. Unity Rd. franchise partners benefit from the continued guidance and tools provided by the franchisor while being able to scale more rapidly, compared with operating independently.
“Unity Rd. is the safest way for entrepreneurs to enter the cannabis industry,” said Mike Weinberger, Chief Operating Officer of OCG Inc., who is now appointed Chief Franchise Officer of Item 9 Labs Corp. and named to the Company’s Board of Directors with this announcement. “Extending our in-house knowledge in dispensary license applications and operations as well as having direct access to Item 9 Labs’ deep bench of trusted, award-winning products are expanded benefits for Unity Rd. franchise partners, positioning them ahead of any competition.”
Transaction Highlights
The transaction offers differentiation in franchising, retail, cultivation, production, and license application. The combined company is committed to growing the Unity Rd. dispensary franchise network and introducing Item 9 Labs products in states where the franchise is expanding its footprint, while continuing to enhance its production and cultivation sites.
Reduced CapEx and Rapid Scalability with Unity Rd. Franchise Model: Franchising offers one of the most viable solution for industry newcomers and existing operators navigating the complex cannabis landscape. Unity Rd. launched in 2018 and currently has multiple agreements signed with 10 entrepreneurial groups that are developing the brand across six states. The franchisor provides the knowledge, resources, and ongoing support its franchise partners need for compliant and successful dispensary operations. Dispensary franchises are expected to drive the cannabis industry forward by mitigating barriers and encouraging local ownership. As a vertically integrated cannabis franchisor, the Company is in a unique position for accelerated scale across both the Unity Rd. and Item 9 Labs brands. Unity Rd. franchise partners sign a 10-year agreement and pay a $100,000 franchise fee up front with 5% gross royalty on top-line revenue and a 2% marketing royalty fee. Further, low corporate capital is required for national development, as franchisees own and operate their own businesses.
Retail Footprint Driven by Strong Lead Flow with Experience at Every Step: The combined team has a proven track record of winning cannabis licenses in 15 states. Bringing together the DispensaryPermits.com and DispensaryTemplates.com customer base, which generated nearly 12,000 application and partnership leads in 2020, with the 2,500-plus prospective franchisees Unity Rd. sees annually is expected to escalate franchise development efforts. DispensaryPermits.com and DispensaryTemplates.com customers will now have a solution for long-term guidance and support through the Unity Rd. franchise opportunity. With news of the acquisition as well as increased U.S. cannabis legalization, Unity Rd. has seen a surge in franchise lead activity over the past six months. The dispensary franchise is currently targeting Arizona, Colorado, Maine, Michigan, New Jersey, and Oklahoma among other markets, as part of its strategic franchise expansion plan.
Robust National Distribution Platform Supporting In-House Production: Item 9 Labs products are currently available in 43% of Arizona’s cannabis dispensaries. Through this existing retail partner network and the Unity Rd. franchise platform, the combined company will have the most sustainable product distribution platform in cannabis. Unity Rd. franchise partners benefit from direct access to Item 9 Labs’ premium, lab-tested products that have earned more than a dozen industry awards, including multiple top marks in Arizona’s leading cannabis competition. The product suite spans 75-plus active cannabis strains and more than 150 differentiated cannabis products as well as premium concentrates along with Apollo and Orion technologies – next-generation vape systems that provide full-spectrum flower experiences on the go. The Unity Rd. retail footprint eases barriers to entry for currently produced consumer products suites in new markets, allowing for increased revenue in product licensing, wholesale, and franchise royalties.
Experienced Leadership Team Delivers Unrivaled Depth of Bench: The combined veteran management team brings a diverse skill set with deep experience in the cannabis sector, franchising, and the capital markets to lead a new generation of public cannabis companies. The team collectively has more than 120 years of legal cannabis industry experience and 50-plus years in franchising, in addition to earning 20-plus franchise and cannabis industry accolades. OCG Inc.’s team had previously developed and sold a global 500-unit franchise business to Kahala Brands, awarded 300-plus franchises in more than five countries, and supported the development of 100-plus franchise companies.
The Agreement
Item 9 Labs shall issue 19,080,000 shares of Item 9 Labs Common Stock, subject to deductions indicated in the Agreement and Plan of Merger (the “Merger Agreement”), in consideration for all of OCG Inc.’s Common Stock. The holders of OCG Inc. Shares will hold approximately 25% of Item 9 Labs’ issued and outstanding shares.
Following the merger, Item 9 Labs will continue as parent and OCG Inc. will be a wholly owned subsidiary of the Company. Andrew Bowden will remain as CEO.
ABOUT ITEM 9 LABS CORP.:
Item 9 Labs Corp. (OTCQX: INLB) is a vertically integrated cannabis operator and dispensary franchisor delivering premium products from its large-scale cultivation and production facilities in the United States. The award-winning Item 9 Labs brand specializes in best-in-class products and user experience across several cannabis categories. The company also offers a unique dispensary franchise model through the national Unity Rd. retail brand. Easing barriers to entry, the franchise provides an opportunity for both new and existing dispensary owners to leverage the knowledge, resources, and ongoing support needed to thrive in their state compliantly and successfully. Item 9 Labs brings the best industry practices to markets nationwide through distinctive retail experience, cultivation capabilities, and product innovation. The veteran management team combines a diverse skill set with deep experience in the cannabis sector, franchising, and the capital markets to lead a new generation of public cannabis companies that provide transparency, consistency, and well-being. Headquartered in Arizona, the company is currently expanding its operations space by 650,000+ square feet on its 50-acre site, one of the largest properties in Arizona zoned to grow and cultivate flower. For additional information, visit item9labscorp.com.
FORWARD-LOOKING STATEMENT:
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties, including, but not limited to, risks and effects of legal and administrative proceedings and governmental regulation, especially in a foreign country, future financial and operational results, competition, general economic conditions, proposed transactions that are not legally binding obligations of the company and the ability to manage and continue growth. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include the introduction of new technology, market conditions and those set forth in reports or documents we file from time to time with the SEC. We undertake no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Media Contact:
Item 9 Labs
Jayne Levy, Director of Communications
Email: Jayne@unityrd.com
Investor Contact:
Item 9 Labs
800-403-1140
Email: investors@item9labs.com
SOURCE: Item 9 Labs Corp.
Revenue growth fueled by strong market demand and increases in cannabis production
Gross margin improvement reflects increased operating efficiencies
Company is poised for accelerated revenue growth in 2021, driven by adult-use legalization in Arizona, approved expansion plans for cultivation in Arizona, and additional distribution channels through merger with ONE Cannabis Group – parent company of national dispensary franchise Unity Rd.
Phoenix, AZ – February 16, 2021 – Item 9 Labs Corp. (OTCQX: INLB) (“Item 9 Labs” or the “Company”), a vertically integrated cannabis operator that produces premium products, today reported operating and financial results for the three months ended December 31, 2020, the Company’s first quarter for fiscal year 2021 (“Q1 FY2021”).
Key Financial Highlights for Q1 FY2021 (compared with Q1 FY2020)
Key Business Highlights for Q1 FY2021
Management Commentary
“We are extremely pleased with our strong first-quarter performance, as we continued to grow revenues and improve margins and profitability,” commented Item 9 Labs Chief Executive Officer Andrew Bowden. “Our results exceeded our internal projections, with sequential quarter-over-quarter revenue growth rate of 21% and positive adjusted EBITDA of $0.4 million.”
With the successful passage of Proposition 207 for adult use in Arizona, it is expected that the state’s total legal marijuana market will near $1.5 billion in the next three years.
“The high penetration of our award-winning products in existing Arizona dispensaries, coupled with operational expansion, puts us in strong position to capture additional market share,” said Bowden, adding that the first phase of cultivation site expansion will increase the Company’s operational footprint by more than 300% and create 60 jobs in the next 12 months. He continued, “Our expansion plans and streamlined production process have us well-prepared for the year ahead.”
“Outside of Arizona development, we look forward to closing our pending merger with ONE Cannabis Group and their cannabis franchise Unity Rd.,” said Bowden. “The business combination is expected to increase our branded product footprint via national distribution through the Unity Rd. dispensary franchise platform. It will also add a predictable recurring revenue stream through franchise royalty fees.”
Item 9 Labs’ 45-acre marijuana cultivation site expansion was approved by Coolidge, Arizona officials in November 2020. Local city council supports the Company’s master site expansion plan that will create 650,000+ square feet of marijuana operations. Known for its award-winning, premium cannabis products, Item 9 Labs is projected to expand its operations space by more than 3,000% and create more than 200 jobs by the conclusion of the development. Currently, the Company has two 10,000-square-foot facilities on its 50-acre site. The site will see expansion on 45 of its acres to include six additional buildings, 12 greenhouses and six greenhouse support buildings (head houses). Seven of the buildings will be for indoor cultivation and one will be for expansion of the Company’s lab and support space for finished product. In addition to the above uses, the Company is currently awaiting state approval for five acres of on-site outdoor cultivation. Upon breaking ground, ongoing construction will take place over three years in six phases, with the initial phase beginning in early 2021. Phase one includes the construction of two 26,000-square-foot greenhouses, one head house and two 10,000-square-foot buildings – one for indoor cultivation and one for the lab and packaging. This phase adds 72,000 square feet of operations space. Construction on phase two is anticipated to begin in summer 2021.
The Company finalized its merger agreement with ONE Cannabis Group (OCG Inc.) in December 2020 and expects to close the merger in early 2021; the Definitive 14C Proxy was filed on February 3, 2021. Based in Colorado, ONE Cannabis Group is the parent company of dispensary franchise Unity Rd. The cannabis franchise pioneer helps entrepreneurial and existing operators enter and navigate the complex cannabis industry with ease by offering its franchise partners the training, resources, and ongoing support needed to compliantly and successfully operate a dispensary. Currently, Unity Rd. has agreements signed for the development of more than two dozen franchisee owned and operated shops across multiple states.
Financial Results for Q1 FY2021, Ended December 31, 2020:
The increase in gross profit was due to the ramp-up in production and continued improvement in the operating capacity of the Company’s cultivation and processing facilities. With the Company’s continued production expansion and focus on operational efficiencies and cost reduction, management expects gross profit to continue to grow going forward.
Management believes costs of revenues will increase at a lower rate than revenues in future periods, which is expected to lead to higher profit margins than historical figures illustrate. Through bulk purchasing, production efficiencies, and investments in equipment, management believes that the Company will continue to improve gross profit margins.
Of note, $0.7 million of the Company’s operating expenses for the three months ended December 31, 2020 were non-cash expenses, including depreciation, amortization and stock-based compensation.
The Company filed its Form 10-Q on February 16, 2021. Click here to view.
Use of Non-GAAP Financial Measures
To supplement the Company’s financial statements presented on a GAAP basis, Item 9 Labs provides Adjusted EBITDA as a supplemental measure of its performance.
To provide investors with additional insight and allow for a more comprehensive understanding of the information used by management in its financial and decision-making surrounding pro forma operations, Item 9 Labs supplements its consolidated financial statements presented on a basis consistent with U.S. generally accepted accounting principles, or GAAP, with Adjusted EBITDA as a non-GAAP financial measure of earnings. Adjusted EBITDA represents EBITDA plus stock-based compensation and change in fair value of derivative liabilities. Item 9 Labs management uses Adjusted EBITDA as a financial measure to evaluate the profitability and efficiency of the business model. The Company uses these non-GAAP financial measures to assess the strength of the underlying operations of the business. These adjustments, and the non-GAAP financial measures that are derived from them, provide supplemental information to analyze its operations between periods and over time. Item 9 Labs finds this especially useful when reviewing pro forma results of operations, which include large non-cash amortizations of intangible assets from acquisitions and stock-based compensation. Investors should consider its non-GAAP financial measures in addition to, and not as a substitute for, financial measures prepared in accordance with GAAP.
About Item 9 Labs Corp.
Item 9 Labs Corp. (OTCQX: INLB) is a vertically integrated cannabis operator delivering premium products from its large-scale cultivation and production facilities in the United States. The award-winning Item 9 Labs brand specializes in best-in-class products and user experience across several cannabis categories. With substantial insider investment, the Company brings the best industry practices to markets nationwide through distinctive retail experience, cultivation capabilities, and production innovation. The veteran management team combines a diverse skill set with deep experience in the cannabis sector and capital markets to lead a new generation of public cannabis companies that provide transparency, consistency, and well-being. Headquartered in Arizona, the Company has 650,000+ square feet of operations space under development on its 50-acre site, one of the largest properties in Arizona zoned to grow and cultivate flower. For additional information, visit item9labscorp.com.
Forward-Looking Statement
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties, including, but not limited to, risks and effects of legal and administrative proceedings and governmental regulation, especially in a foreign country, future financial and operational results, competition, general economic conditions, proposed transactions that are not legally binding obligations of the company and the ability to manage and continue growth. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include the introduction of new technology, market conditions and those set forth in reports or documents we file from time to time with the SEC. We undertake no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
###
Media Contact:
Item 9 Labs
Jayne Levy, Director of Communications
Email: Jayne@unityrd.com
Investor Contact:
Item 9 Labs
800-403-1140
Email: investors@item9labs.com
SOURCE: Item 9 Labs
Phoenix, AZ – January 13, 2021 – Item 9 Labs Corp. (OTCQX: INLB) (“Item 9 Labs” or the “Company”), a vertically integrated cannabis operator that produces premium products, today reported the Company’s operating and financial results for the fiscal year (FY) ended September 30, 2020.
Key Financial Highlights for FY 2020
Key Business Highlights for FY 2020
Management Commentary
“This past year has been an exciting and successful time for our team,” commented Item 9 Labs Chief Executive Officer Andrew Bowden. “We’ve seen strong, steady performance with sequential quarter-over-quarter growth rates of nearly 20% since my appointment as CEO at the start of our 2020 fiscal year. Our team continues to exceed expectations and has efficiently ramped production to meet heightened demand for our products, setting the stage for key strategic and operational developments in 2021. We anticipate increased business activities as we continue to pursue opportunities that position the company for growth and profitability.”
Bowden continued, “We are still in the early stages of our growth and are already seeing an acceleration with Arizona’s adult-use marijuana market opening in the first half of 2021, which we estimate will increase our consumer base by 500%. We’re prepared to meet this demand through our streamlined production process and by expanding our operational cultivation footprint by more than 300% in the year ahead.”
“In addition to continued growth in Arizona, we look forward to closing our pending merger with ONE Cannabis Group and their cannabis franchise, Unity Rd. We expect the combination of our premium, award-winning cannabis products with the nation’s leading dispensary franchise will elevate our brand footprint through national distribution across Unity Rd.’s locally owned and operated dispensaries. This will ease new market product entry and create recurring revenue streams through franchise royalty fees,” Bowden concluded.
Subsequent to the End of FY 2020
Item 9 Labs’ 45-acre marijuana cultivation site expansion was approved by Coolidge, Arizona officials in November 2020. Local city council supports the Company’s master site expansion plan that will create 650,000+ square feet of marijuana operations. Known for its award-winning, premium cannabis products, Item 9 Labs is expected to expand its marijuana operations space by more than 3,000% at the conclusion of the expansion. Currently, the Company has two 10,000 square-foot facilities on its 50-acre site. The site will see expansion on 45 of its acres to include six additional buildings, 12 greenhouses and six greenhouse support buildings (head houses). Seven of the buildings will be for indoor cultivation and one will be for expansion of the Company’s lab and support space for finished product. In addition to the above uses, the Company is currently awaiting state approval for five acres of on-site outdoor cultivation. Upon breaking ground, ongoing construction will take place over three years in six phases, with the initial phase beginning in early 2021. Phase one includes the construction of two 26,000 square-foot greenhouses, one head house and two 10,000 square-foot buildings – one for indoor cultivation and one for the lab and packaging. This phase adds 72,000 square feet of operations space. Construction on phase two is anticipated to begin in summer 2021.
The Company finalized its merger agreement with ONE Cannabis Group (OCG Inc.) in December 2020 and expects to close the merger in early 2021. Based in Colorado, ONE Cannabis Group is the parent company to the dispensary franchise Unity Rd. The cannabis franchise pioneer helps eager operators enter the complex cannabis industry with ease by offering its franchise partners the knowledge, resources, and ongoing support needed to compliantly and profitably operate a dispensary. Currently, Unity Rd. has agreements signed for the development of more than two dozen franchisee owned and operated shops across multiple states and expects the first store to open within the next six months.
Item 9 Labs raised $5.667 million in equity at $0.85 per common share in preparation for the cultivation site expansion, recently approved adult-use legislation in Arizona and the ONE Cannabis Group merger.
Financial Results for FY 2020, Ended September 30, 2020:
The increase in gross profit was due to the ramp up in operations and continued improvement in the operating capacity of the Company’s cultivation and processing facilities. With the Company’s continued increase in capacity and focus on efficiencies and cost reduction, management expects gross profit to continue to grow going forward.
Item 9 Labs increased operational efficiency throughout fiscal year 2020, and management believes costs of revenues will increase at a lower rate than revenues in future periods, which will lead to higher profit margins than these historical figures illustrate. Through bulk purchasing, increasing efficiencies in production, and investments in equipment, management believes that the Company will continue to improve gross profit margins.
Of note, $0.9 million of the Company’s operating expenses for the year ended September 30, 2020 were depreciation of fixed assets and amortization of other intangible assets, and $0.4 million is a provision for bad debt; management does not believe the latter to be indicative of future results. Additionally, $1.8 million of the Company’s operating expenses in fiscal year 2020 were paid through the issuance of shares of common stock of the Company and employee stock options. $5.8 million of the Company’s operating expenses for the year ended September 30, 2019 were a loss on impairment of goodwill and other intangible assets, and $0.4 million is a provision for bad debt, both items that management does not believe to be indicative of future results. Additionally, $1.1 million of the Company’s operating expenses in 2019 were paid through the issuance of shares of common stock of the Company.
Use of Non-GAAP Financial Measures
To supplement the Company’s financial statements presented on a GAAP basis, Item 9 Labs provides Adjusted EBITDA as a supplemental measure of its performance.
To provide investors with additional insight and allow for a more comprehensive understanding of the information used by management in its financial and decision-making surrounding pro forma operations, Item 9 Labs supplements its consolidated financial statements presented on a basis consistent with U.S. generally accepted accounting principles, or GAAP, Adjusted EBITDA as a non-GAAP financial measures of earnings. Adjusted EBITDA represents EBITDA plus stock-based compensation and change in fair value of derivative liabilities. Item 9 Labs management uses Adjusted EBITDA as financial measures to evaluate the profitability and efficiency of the business model. The Company uses these non-GAAP financial measures to assess the strength of the underlying operations of the business. These adjustments, and the non-GAAP financial measures that are derived from them, provide supplemental information to analyze its operations between periods and over time. Item 9 Labs finds this especially useful when reviewing pro forma results of operations, which include large non-cash amortizations of intangible assets from acquisitions and stock-based compensation. Investors should consider its non-GAAP financial measures in addition to, and not as a substitute for, financial measures prepared in accordance with GAAP.
About Item 9 Labs Corp.
Item 9 Labs Corp. (OTCQX: INLB) is a vertically integrated cannabis operator headquartered in Arizona. The Company creates best-in-class products and canna-business solutions designed to help people become the best versions of themselves. With an award-winning CPG brand and nationally recognized application team, Item 9 Labs improves the cannabis experience while providing transparency, consistency, and well-being for those relying on them. For additional information, please visit: item9labscorp.com.
Forward-Looking Statement
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties, including, but not limited to, risks and effects of legal and administrative proceedings and governmental regulation, especially in a foreign country, future financial and operational results, competition, general economic conditions, proposed transactions that are not legally binding obligations of the company and the ability to manage and continue growth. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include the introduction of new technology, market conditions and those set forth in reports or documents we file from time to time with the SEC. We undertake no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
###
Media Contact:
Item 9 Labs
Jayne Levy, Director of Communications
Email: Jayne@unityrd.com
Investor Contact:
800-403-1140
Email: IR@item9labs.com
SOURCE: Item 9 Labs Corp.
Expects to Close Merger of ONE Cannabis Group, Parent Company to Dispensary Franchise Unity Rd., in January 2021
Phoenix, AZ – December 16, 2020 – Item 9 Labs Corp. (OTCQX: INLB) (“Item 9 Labs,” or the “Company”), a vertically integrated cannabis operator that produces premium products, announced today that it has finalized its merger agreement with ONE Cannabis Group (OCG, Inc.) and expects to close the merger in January 2021.
ONE Cannabis Group, based in Colorado, is the parent company to the cannabis dispensary franchise Unity Rd. Built up from the legacy of a 10-plus year, award-winning Colorado dispensary & cultivator and infused with decades of franchise experience, the company helps eager operators enter the complex industry with ease. The cannabis franchise pioneer offers its partners the knowledge, resources, and ongoing support needed to compliantly and profitably operate a dispensary. Currently, Unity Rd. has franchise agreements signed for the development of more than two dozen shops across multiple states and expects the first store to open in quarter one 2021.
Recently, it was named one of the top cannabis retail leaders in the nation by MJBizDaily magazine and one of the “Best Cannabis Companies to Work For” in both the dispensary and cultivation categories in Cannabis Business Times’ elite 2020 list. The company is also the first cannabis business to earn a Franchise Times Dealmakers award – a recognition presented to the boldest players driving mergers and acquisitions in franchising. For more information on ONE Cannabis Group, visit ocginc.com and head to unityrd.com for details on the Unity Rd. franchise opportunity.
“Our teams have been working on parallel paths to ensure a smooth integration and are eager to officially operate as one unit. This was a significant milestone for all and we look forward to closing [the merger] in January 2021,” Item 9 Labs’ Chief Executive Officer, Andrew Bowden, commented. “The merger with ONE Cannabis Group greatly enhances our business capabilities with its retail distribution and unique franchise operation. Their business model and national network of Unity Rd. franchise partners create highly predictable, recurring revenue streams.”
About Item 9 Labs Corp.
Item 9 Labs Corp. (OTCQX: INLB) is a vertically integrated cannabis operator headquartered in Arizona. The Company creates best-in-class products and canna-business solutions designed to help people become the best versions of themselves. With an award-winning CPG brand and nationally recognized application team, Item 9 Labs improves the cannabis experience while providing transparency, consistency, and well-being for those relying on them. For additional information, please visit: item9labscorp.com.
Forward-Looking Statement
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties, including, but not limited to, risks and effects of legal and administrative proceedings and governmental regulation, especially in a foreign country, future financial and operational results, competition, general economic conditions, proposed transactions that are not legally binding obligations of the company and the ability to manage and continue growth. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include the introduction of new technology, market conditions and those set forth in reports or documents we file from time to time with the SEC. We undertake no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Media Contact:
Item 9 Labs
Jayne Levy, Director of Communications
Email: Jayne@unityrd.com
Investor Contact:
ClearThink
Email: nyc@clearthink.capital
Source: – Item 9 Labs Corp.
Phoenix, AZ – December 8, 2020 – Item 9 Labs Corp. (OTCQX:INLB) (“Item 9 Labs,” or the “Company”), a vertically integrated cannabis operator that produces premium products, today announced that it will be presenting at the 13th annual LD Micro Main Event investor conference on Monday, December 14 at 11am EST. Chief Executive Officer Andrew Bowden will be presenting to a live, virtual audience.
Register here: ve.mysequire.com/
The Main Event will feature a new and unique format, with companies presenting for 10 minutes, followed by 10 minutes of Q&A by a panel of investors and analysts.
“The time has finally come to do something different in the virtual conference world. Let’s see if we can pull off something that can be enjoyed by both executives and investors alike,” stated Chris Lahiji, Founder of LD, now a wholly owned subsidiary of SRAX, Inc.
The Main Event will take place on December 14th and 15th, exclusively on the Sequire Virtual Events platform.
View Item 9 Labs’ profile here: http://www.ldmicro.com/profile/INLB
About LD Micro/SEQUIRE
LD Micro began in 2006 with the sole purpose of being an independent resource to the microcap world. What started as a newsletter highlighting unique companies, has transformed into the pre-eminent event platform in the space. For more information, please visit ldmicro.com.
The upcoming Main Event will be highlighting a new format that will benefit both executives and the investors tuning in from all over the globe.
In September 2020, LD Micro. Inc. was acquired by SRAX, Inc., a financial technology company that unlocks data and insights for publicly traded companies. Through its premier investor intelligence and communications platform, Sequire, companies can track their investors’ behaviors and trends and use those insights to engage current and potential investors across marketing channels. For more information on SRAX, visit srax.com and mysequire.com.
About Item 9 Labs Corp.
Item 9 Labs Corp. (OTCQX: INLB) is a vertically integrated multi-state cannabis operator headquartered in Arizona. The Company creates best-in-class products and canna-business solutions designed to help people become the best versions of themselves. With an award-winning CPG brand and nationally recognized application team, Item 9 Labs improves the cannabis experience while providing transparency, consistency, and well-being for those relying on them. For additional information, please visit: item9labscorp.com.
Forward-Looking Statement
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties, including, but not limited to, risks and effects of legal and administrative proceedings and governmental regulation, especially in a foreign country, future financial and operational results, competition, general economic conditions, proposed transactions that are not legally binding obligations of the company and the ability to manage and continue growth. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include the introduction of new technology, market conditions and those set forth in reports or documents we file from time to time with the SEC. We undertake no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Media Contact:
Item 9 Labs
Jayne Levy, Director of Communications
Email: Jayne@unityrd.com
Investor Contact:
ClearThink
Email: nyc@clearthink.capital
SOURCE: Item 9 Labs Corp.
Item 9 Labs Corp. (OTCQX: INLB) (Item 9 Labs or the Company), creates comfortable cannabis health solutions for the modern consumer. The Company is bringing best of industry practices to markets from coast to coast through cultivation and production, distinctive retail environments, licensing services, and diverse product suites catering to different medical cannabis demographics.
Item 9 Labs Corp. is headquartered in Phoenix, Arizona, with medical cannabis operations in multiple U.S. markets. Item 9 Labs Corp.’s asset portfolio includes Dispensary Permits, Dispensary Templates, Strive Life and Item 9 Labs flagship product brand. These assets provide services specific to different stakeholder groups. Dispensary Permits is the Company’s consulting firm specializing in strategic license application and compliance. Dispensary Templates, a subdivision of the firm, is a technology platform with an extensive digital library of licensing and business planning resources. Strive Life is a turnkey dispensary model for the retail sector, elevating the patient experience with consistent and superior service, high-end design, and precision-tested products. It is currently being implemented in Arizona and North Dakota. The Item 9 Labs brand focus has, and always will be to cultivate the highest quality cannabis products while providing transparency, consistency, and well-being for those who rely on us. Those are not just words we put on a wall for our team, but our way of life, and our commitment to each and every patient and community.
In addition, Item 9 Labs Corp. is advancing the industry with its dynamic product suites. The Company has created complementary brands Item 9 Labs and Strive Wellness to channel consumer diversity. Propriety delivery platforms include the Apollo Vape and Pod system, as well as a pioneering intra-nasal device. The Company has received multiple accolades for its medical-grade flower and concentrates. Item 9 Labs Corp. will be managing cultivation, processing, distribution, and dispensary operations in up to ten U.S. markets by the end of 2019. Current facilities include cultivation and processing operation in Coolidge Arizona, distribution and processing operations Strive Wellness of Ohio and Strive Wellness of Nevada, as well as dispensary Strive Life North Dakota.
Mission & Vision
Item 9 Labs Corp is ushering in a new era of wellness by creating comfortable health solutions for the modern consumer. Through the development of innovative products and proprietary delivery platforms, Item 9 Labs seamlessly merges medical cannabis into a lifestyle.
Item 9 Labs will continue developing the luxury cannabis experience making this available to all patients and adult consumers nationwide. Item 9 Labs will facilitate the national expansion by combining our award-winning manufacturing brand and product offering with the luxury retail and distribution brand of Strive Life. This powerful combination provides national scalability and brings the highest quality marijuana, product knowledge, and experience of top professionals to consumers and patients.
Item 9 Labs, the company’s production brand, has a proven track record in manufacturing high-grade medical cannabis and is currently developing an innovative, proprietary intra-nasal delivery system. This progressive approach offers significant health benefits, setting a new benchmark in medicinal cannabis products. Always with the consumer in mind, Item 9 focuses on organic, cost-effective proprietary delivery solutions for whole body health.
Strive Life is a turnkey dispensary model for the retail sector, elevating the patient experience with consistent and superior service, high-end design, and precision-tested products. Strive Life, the company’s “franchise style” dispensary model, aims to elevate any marijuana market by offering the documents and systems necessary for launching a successful dispensary. The model includes a Project Plan, Welcome Kit, Brand Guidelines, Interior Concept, and Policy and Procedures for the facility. The Strive vision is to implement best industry practices from across the United States to offer optimal medical services and support through the dispensing and sale of medical marijuana.
Dispensary Permits, the company’s strategic licensing consulting brand, will ensure compliance and continued expansion throughout the United States. Dispensary Permits is one of the most established marijuana business consultancies in the U.S. They offer expert advice in obtaining cultivation, dispensing, processing, and transporting permits in the Cannabis industry. Dispensary Permits has a proven track record in successfully obtaining marijuana business permits for their clientele in over 14 different states.
Source: https://www.item9labscorp.com/
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