Business
Item 9 Labs Corp. Expects to Close its Acquisition of ONE Cannabis Group in Early July
Item 9 Labs Corp. Expects to Close its Acquisition of ONE Cannabis Group in Early July.
About this update from Item 9 Labs Corp.
[{"type":"text","content":"Nationally Recognized True Cannabis Franchise to Complement and Enhance Company's Existing ProductsPHOENIX, AZ / ACCESSWIRE / June 4, 2020 / Item 9 Labs Corp. (OTC PINK:INLB) ("Item 9 Labs" or the "Company"), a vertically integrated multi-state cannabis operator producing award-winning products, announced today that it expects to close its acquisition of ONE Cannabis Group (OCG, Inc.) in early July 2020. ONE Cannabis Group is the parent company to the cannabis dispensary franchise Unity Rd. The merger was previously disclosed on a Form 8-K filed with the U.S. Securities and Exchange on March 2, 2020. The parties are currently in negotiations to finalize certain necessary amendments to the merger agreement and completing the condition precedents and compliance-related matters.Item 9 Labs' Chief Executive Officer, Andrew Bowden, commented, "The merger with ONE Cannabis Group greatly enhances our business capabilities with its retail distribution. Its cannabis dispensary franchise Unity Rd. is a first in industry and nationally recognized true cannabis franchise. Their business model and national network of franchisees create highly predictable, recurring revenue streams. Our teams have been working closely together over the past few months to ensure a smooth integration and are eager for the close of the merger."ONE Cannabis Group is a Colorado-based cannabis franchise company that's making a name for itself as the bridge connecting the two previously disconnected worlds of cannabis and franchising. Built up from the legacy of a 10-year Colorado dispensary and cultivator and infused with decades of franchise experience, the company helps eager operators enter the complex industry with ease. Recently, it was named one of the top cannabis retail leaders in the nation by MJBizDaily magazine and one of the "Best Cannabis Companies to Work For" in both the dispensary and cultivation categories in Cannabis Business Times' elite 2020 list. The company is also the first cannabis business to earn a Franchise Times Dealmakers award - a recognition presented to the boldest players driving mergers and acquisitions in franchising. For more information on ONE Cannabis Group, visit ocginc.com and head to unityrd.com for details on the Unity Rd. franchise opportunity.About Item 9 Labs Corp: ...