The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.
Arizona-based Item 9 Labs Corp. INLB is confident that its recent acquisition of Unity Rd. will propel the company into the future.
The company, which prides itself on providing cannabis solutions for the modern-day consumer, recently announced that it had acquired ONE Cannabis Group (OCG, Inc.), parent company to the cannabis dispensary franchise Unity Rd.
The deal was disclosed on a Form 8-K filed with the U.S. Securities and Exchange on March 2, 2020.
Andrew Bowden, CEO of Item 9 Labs, speaking at the Benzinga Cannabis Capital Conference on June 3, confirmed the acquisition and added that the deal "is what's going to propel us into the future."
In the company's quest to further expand its business across the U.S., Item 9 Labs also is granting franchise licenses to businesses.
Bowden explained, "The beauty of the franchise model is that it requires an extremely low capex because franchises are locally owned and operated. With this, we will be able to grow faster nationally without needing to raise capital as Unity Rd. franchise partners open shops nationwide. We plan to bring the Item 9 products to the market through developing or partnering with cultivation facilities within states."
Item 9 Labs boasts over 107 years in retail, more than 130 years in consumer-packaged goods, more than 100 years in legal cannabis and over 65 years in franchising. "So, when it comes to the franchising piece,, and cannabis, we are the leaders," the company's CEO stressed.
Franchising will give road operators the first access to Item 9 Labs' reliable product supply chain in new markets, and it will also gain immediate distribution points in the new markets.
Apart from this access, the company supports local entrepreneurs by opening the door to cannabis entrepreneurship and supporting legislative initiatives.
"Buckle up because we're on our way … to make Unity Rd. the first national household dispensary brand in cannabis," an optimistic Bowden assured.
For years now, Item 9 Labs has been involved in an ongoing education to different communities nationwide. Bodwin says this is the company's way of "collectively just inspiring confidence in the benefits of cannabis for all."
For the company, everything starts with responsibly cultivated flower, and it always keeps a close eye on emerging technologies. Item 9 Labs is continually making advancements to its product lineup and consistently setting new industry standards in the market.
About Item 9 Labs Corp
Item 9 Labs (OTC PINK: 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 consumer packaged goods (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 https://www.item9labscorp.com.
Known for its impressive catalog of products, Item 9 Labs currently offers over 75 active cannabis strains and more than 150 differentiated cannabis vape products as well as premium concentrates.
In Arizona, the award-winning cannabis operator is currently expanding its operations space by 650,000+ square feet on its 50-acre site — one of the largest properties in the state that is zoned to grow and cultivate flower. Just this January, adult use was made legal in Arizona, formally embracing the health and promise of the cannabis industry and securing Item 9 Labs’ future.
The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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