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Item 9 Labs Corp. Breaks Ground on $13.5M Cultivation Expansion
Item 9 Labs Corp. Breaks Ground on $13.5M Cultivation Expansion.
About this update from Item 9 Labs Corp.
[{"type":"text","content":"\n\n\n\nItem 9 Labs Corp. Breaks Ground on $13.5M Cultivation Expansion\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prnml40{\nMARGIN-LEFT:3.33em\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nItem 9 Labs Corp. Breaks Ground on $13.5M Cultivation Expansion\n- Initial Expansion Doubles Current Operations Space and Reduces Reliance on Third-Party Sourced Material by 40-50%\n- In Celebration of Launching the Master Site Development of its 50-Acre Site in Pinal County, Arizona, Company Donates $5,000 to the Society of St. Vincent de Paul of Arizona\nPR Newswire\nCOOLIDGE, Ariz., Nov. 16, 2021\n\n\n\nCOOLIDGE, Ariz., Nov. 16, 2021 /PRNewswire/ -- 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 the Company has broken ground on the master site expansion of its Coolidge, Arizona cultivation & lab site. \n\n \n \n \n \n \n \n\n \nItem 9 Labs Corp. has been cultivating, manufacturing, and processing Item 9 Labs products—the Company's elevated mainstream cannabis brand—since 2017 from its existing 19,200 sq. ft. facility, which sits on five acres. As part of the master site expansion, the Company recently acquired the neighboring 45 acres and anticipates increasing its operations space to 640,000+ square feet; a 3,100% increase from its current operations. At 50 acres, the site is one of the largest properties in Arizona that is zoned to grow and cultivate flower.\nThe initial development phase is estimated to be completed in Summer 2022 and includes the construction of three steel buildings and two greenhouses – adding 9,600 sq. ft. for indoor cultivation, 9,600 sq. ft. of lab and packaging and a 9,600 sq. ft. head house to support the addition of the two 18,000 sq. ft. greenhouses. \n\"With phase one of our expansion, we expect to increase output of our high-quality flower by 30-35%,\" says Cory Carter, vice president of cultivation of Item 9 Labs Corp. \"Our greenhouses will reduce ...