Item 9 Labs Corp. to acquire The Herbal Cure in Denver, Colorado
- Generation of a future flagship business location $5.4 million in turnover in 2021
- Colorado’s second acquisition fuels market expansion for the company’s dispensary franchise, Unity Rd.
- Acquisition includes cultivation license, complementing company’s national retail and product expansion efforts
DENVER, March 17, 2022 /PRNewswire/ — Item 9 Labs Corp. (OTCQX: INLB) (the “Company”) — a vertically integrated cannabis dispensary franchisor and operator that produces premium, award-winning products — today announced that it has signed an asset purchase agreement (the ” APA”) with The Herbal Cure, a medicinal and recreational dispensary and grower operating in Denver, Colorado.
The Herbal Cure was founded in 2010 and has generated revenues of $5.4 million in 2021. Located in the desirable and central neighborhood of Washington Park in denver, the 1,500 square foot medicinal and recreational dispensary will be the company’s future flagship site for the brand. Item 9 Labs Corp. expects the dispensary to transition to its cannabis dispensary franchise brand, Unity Rd., within six months of closing the acquisition, which is currently awaiting regulatory approval by from colorado Marijuana Enforcement Division (the “MED”) and the City of Denver.
The acquisition includes the current 5,000 square foot facility, which has 3,500 square feet of space for on-site cultivation operations, corporate offices, team training and more. Item 9 Labs Corp. has the possibility of expanding the sales area with additional point-of-sale terminals and an expanded product assortment, in addition to the possibility of offering delivery services through one of the social partners of the society.
On the cultivation side, the APA also consists of a 3,000 square foot medicinal and recreational cultivation. The company plans to showcase its award-winning cannabis products from Item 9 Labs at Colorado market in the coming year. With nearly 30 podiums in Arizona marijuana contest, Item 9 Labs is a trusted source for premium cannabis products with a catalog that spans over 100 products in five main categories, including multiple active cannabis strains, cannabis vaping products, high range and Orion vaping technology.
“The acquisition of Herbal Cure represents an accretive opportunity for the company and is well positioned with our national retail and product expansion strategy,” said the company’s Chief Strategy Officer, jeffrey rassas.
Path of unity. is the growth vehicle that will bring Item 9 Labs products to new markets. The Company is focusing its product expansion efforts on states such as Colorado, where there are two to three Unity Rd. stores in operation to facilitate the entry of new products into the market and to concentrate operations. In Colorado, Unity Road. currently has a franchise store located in Rock as well as a corporate store that will open in the coming months at Adams County which would later be sold to Unity Rd. franchise partner. This expansion strategy gives the Company’s franchised distributors privileged access to a reliable and award-winning product supply chain. The path to unity. also benefits from the nationwide product consistency that consumers expect from franchise brands.
“With The Herbal Cure dispensary conveniently located South of Denverwe anticipate accelerated brand penetration in the market through increased exposure among daily commuters as well as high tourist traffic, particularly during the summer months,” said Vice President of Mergers and Acquisitions of the society, Mark Busch. “This flagship location is a tremendous added value for the Unity Rd. brand as we expand into the Colorado market and is a prime avenue for our plan to bring our Item 9 Labs products to the state. »
In addition to ColoradoItem 9 Labs Corp. actively seeks cannabis dispensary acquisitions in key markets of Arizona, Michigan and Oklahoma to convert to Unity Rd. brand. Currently, the dispensary franchise has several agreements signed with nearly 20 entrepreneurial groups that are in various stages of development nationwide. It provides entrepreneurs with the tools, resources, systems, and training needed to successfully run a cannabis dispensary in their market, while retaining full ownership of their business and dispensary license.
More information about Item 9 Labs Corp. and its brands:
Cannabis operators interested in selling their dispensary license:
Contact Mark Busch at [email protected]
About Item 9 Labs Corp.
Item 9 Labs Corp. (OTCQX: INLB) is a vertically integrated cannabis operator and dispensary franchisor that offers premium products from its large-scale cultivation and production facilities in the United States. Award-winning brand Item 9 Labs specializes in the best products and user experience across multiple cannabis categories. The company also offers a unique dispensary franchise model through the nationwide Unity Rd. retail brand. By lowering barriers to entry, franchising provides an opportunity for 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 industry best practices to markets nationwide through a distinctive retail experience, culture capabilities and product innovation. The seasoned management team combines a diverse skill set with deep experience in the cannabis industry, franchising and capital markets to lead a new generation of public cannabis companies that deliver transparency, consistency and well-being. Based in Arizona, the company is currently expanding its operating space to more than 640,000 square feet on its 50-acre site, one of the largest properties in Arizona zoned for growing and growing flowers. For more information, visit https://investors.item9labscorp.com/.
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, the risks and effects of judicial and administrative proceedings and governmental proceedings. regulation, particularly in a foreign country, future financial and operating results, competition, general economic conditions, proposed transactions that are not legally binding on the company and the ability to manage and pursue growth. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results 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 press release include the introduction of new technologies, market conditions and those set forth in any reports or documents we file from time to time. another with the SEC. We undertake no obligation to revise or update these statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unforeseen events.
Section 9 Labs Corp.
Jayne Levyvice president of communications
Section 9 Labs Corp.
SOURCE Element 9 Labs Corp.