DENVER , March 4, 2022 /PRNewswire/ — Item 9 Labs Corp.” data-rapid_p=”3″ data-v9y=”1″>Item 9 Labs Corp. (OTCQX: INLB) (the “Company”) — a vertically integrated cannabis dispensary franchisor and operator that produces premium, award-winning products — announced today that it has closed its acquisition of an existing dispensary license and storefront in Adams County, Colorado.
Located at 6101 N. Washington St. in Denver, this will be the first corporate-owned shop under the Unity Rd. brand. The Company expects the shop to be operational in the first half of 2022.
Acquisition Marks First in Company’s National Growth Accelerator
This acquisition is part of an overarching strategy to accelerate national development by creating turnkey investment opportunities for Unity Rd. franchise partners. Item 9 Labs Corp. plans to aggressively expand its dispensary franchise by acquiring and converting cannabis retail stores, training the local team and selling the business to new and existing franchise partners.
“Entrepreneurs are flocking to cannabis, eager to grab a piece of the $25 billion a year market, but soon find that opening a cannabis business is most often a lengthy, complex process,” said Item 9 Labs Corp.’s Chief Executive Officer, Andrew Bowden. “This development strategy offers one of the most turn-key entrances into cannabis. With our team handling the acquisition, conversion and training internally, we expect our national Unity Rd. footprint to expand much more quickly.”
As part of these development efforts, the Company is seeking acquisitions of cannabis dispensaries in Denver, front range and compelling mountain towns throughout Colorado, and key markets in Arizona, Michiganand Oklahoma.
“Unity Rd. is the growth vehicle that will bring our award-winning, premium Item 9 Labsproducts to new states,” added the Company’s Chief Strategy Officer, Jeffrey Rassas. “We are also seeking opportunities to acquire, develop or partner with cultivation and production facilities in markets where we have two to three Unity Rd. shops to ease new market product entry and focus our operations.”
Bringing Item 9 Labs products to markets where Unity Rd. shops are located gives franchise partners front-of-the-line access to a reliable, award-winning product supply chain. The cannabis retail shop also benefits from the national product consistency that consumers have come to expect from franchise brands.
More Information on Item 9 Labs Corp. and Unity Rd.:
Visit https://investors.item9labscorp.com/
The post Item 9 Labs Corp. Closes Acquisition of Adams County, Colorado Dispensary appeared first on CannabisFN.
[Original Source]
