Business
Item 9 Labs Corp. Positioned For Significant Growth With Expanding Cannabis Dispensary Franchise, Unity Rd.
Item 9 Labs Corp. Positioned For Significant Growth With Expanding Cannabis Dispensary Franchise, Unity Rd..
About this update from Item 9 Labs Corp.
[{"type":"text","content":"\nUnity Rd., the national cannabis dispensary franchise from Item 9 Labs Corp. (the “Company”) (OTCQX: INLB), enters 2023 on the heels of a banner year comprised of multiple dispensary openings and continued U.S. development, alongside an approaching transformational acquisition that will bring the brand into an international market and turn it into a top 10 global cannabis retailer.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230209005339/en/Since launching in 2018, Unity Rd. has always had one mission and vision in mind for the cannabis industry: to inspire confidence in the benefits of cannabis for all. (Photo: Business Wire)\nUnity Rd. celebrated the following milestones and achievements in 2022:\n\n\nOpened multiple shops and entered new development markets across the United States:\n\n\nLocal shop owner and entrepreneur, Dishen Patel, received approval in December for a recreational business license from the state of New Jersey and the municipality of Franklin Township in Somerset County to open and operate a new cannabis business. The Franklin-Somerset Unity Rd. location is expected to open in summer 2023.\n\n\nFranchisees B.J. Olson and Adam Jorgensen opened the first non-tribal, state-licensed medical cannabis establishment in South Dakota, located in Hartford near the state’s largest city of Sioux Falls.\n\n\nAlongside the opening in South Dakota, Unity Rd. opened its first shop in the Denver market, located in the North Denver area, in July. The franchise also secured license approval on the state and local levels for a dispensary near the Glendale neighborhood in Denver.\n\n\nUnity Rd. signed its first partner through its Local Alliance Program in Oklahoma City, Okla. in January. The program was created for existing dispensary owners and license holders who would benefit from gaining direct access to the buying power, resources, and supportive network of a national dispensary brand.\n\n\n\n\nItem 9 Labs. Corp. signed a definitive agreement to acquire Sessions Cannabis (“Sessions”): In May, the Company signed a definitive agreement to acquire Sessions Cannabis, one of Canada’s largest cannabis retail franchisors. With an exponential increase in future store count to a combined 50-plus units across North America, the a...