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Item 9 Labs Corp. Expands Into National CBD & Hemp Consumer Goods Market Announces Joint Venture with Third Eye Investments
Item 9 Labs Corp. Expands Into National CBD & Hemp Consumer Goods Market Announces Joint Venture with Third Eye Investments.
About this update from Item 9 Labs Corp.
[{"type":"text","content":"\n SCOTTSDALE, Ariz., Dec. 13, 2019 (GLOBE NEWSWIRE) -- Item 9 Labs Corp. (OTC: INLB) (Item 9 Labs or the Company), a leader in comfortable cannabis solutions for the modern consumer, today announced a joint venture with Third Eye Investments to expand into the CBD extraction and hemp consumer goods market. The partnership will focus on the development of Spectrum 8 hemp with planned nationwide distribution and construction of the first solvent free, RF processing extraction facility in North America. “The fundraising, CBD, and project management expertise at Third Eye Investments, coupled with our unique value proposition brand, consumer-packaged goods and extraction IP, is the perfect marriage to create Spectrum 8 Hemp,” stated Bryce Skalla, president and co-founder at Item 9 Labs. Third Eye Investments is a Phoenix-based investment group specializing in commercial and residential real estate. In 2017, Third Eye Investments recognized the potential of the burgeoning hemp market and leveraged their expertise to acquire a 40-acre grow in Delta, Colorado. “We are excited to collaborate with an industry leader in plant processing and cannabis cartridge and flower brands. It’s our mission to bring high quality CBD to market and continue to grow health, happiness, and prosperity in our communities,” stated Third Eye Investments representative Bonnie Love. According to recent data, the industrial hemp to CBD industry is expected to grow from $600 million of consumer product sales in 2018 to over $23 billion in 2023. The joint venture will further diversify Item 9 Labs current brand and asset portfolio. Headquartered in Phoenix, Arizona, the Company has medical cannabis operations in multiple U.S. markets and a distinctive array of product suites catering to different patient demographics. For information visit Item9LabsCorp.com. About Item 9 Labs Corp.: Item 9 Labs Corp. (OTC: INLB) creates comfortable cannabis health solutions for the modern consumer. The Company is bringing best of industry practices to markets from coast to coast through cultivation and production, distinctive retail environments, licensing services, and diverse product suites catering to different medical cannabis demographics. Headquartered in Phoenix, Arizona, Item 9 Labs Corp. shares corporate offices with Bowden Investment Group ...