Business
Item 9 Labs Corp. Closes Acquisition of Leading U.S. Cannabis Dispensary Franchisor
Item 9 Labs Corp. Closes Acquisition of Leading U.S. Cannabis Dispensary Franchisor.
About this update from Item 9 Labs Corp.
[{"type":"text","content":"\n\n\n\nItem 9 Labs Corp. Closes Acquisition of Leading U.S. Cannabis Dispensary Franchisor\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\n\n\n\n\n\nItem 9 Labs Corp. Closes Acquisition of Leading U.S. Cannabis Dispensary Franchisor\nAcquisition 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\nPR Newswire\nPHOENIX, March 23, 2021\n\n\n\nPHOENIX, March 23, 2021 /PRNewswire/ -- 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.\nItem 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 M...