Business
Item 9 Labs Corp. Responds to OTC Markets Request on Recent Promotional Activity
Item 9 Labs Corp. Responds to OTC Markets Request on Recent Promotional Activity.
About this update from Item 9 Labs Corp.
[{"type":"text","content":"Item 9 Labs Corp. (the \"Company\") (OTCQX: INLB)—has been requested by OTC Markets Group Inc. (“OTC Markets”) to issue a statement about recent promotional activity concerning INLB common shares (the “Common Shares”).On November 14, 2022, the Company was informed by OTC of certain promotional activities concerning the Company and the Common Shares traded on the OTCQX® Best Market, including an email dissemination by Broad Street Alerts and Traders News Source discussing the Company, its projects, stock price and performance, financials, and the cannabis industry. The publications also makes certain statements that are false and misleading. OTC Markets provided the Company with copies of the promotional materials for reference.On November 14th and November 15th, 2022, the Company’s effected trading activity recorded a share volume of approximately 56,000 common shares per day, compared to the Company’s 30-day trading average of 35,778 common shares.Neither the Broad Street Alerts nor Traders News Source were hired by the Company and/or its officers; neither the Company nor its officers were involved, directly or indirectly, with the creation, distribution, or payment of said promotional materials. The Company had no knowledge of the promotional materials until notified by OTC Markets’ Issuer Compliance Team, which monitors and enforces OTC Market’s Promotion Policies. As such, the Company had no editorial control over the content.Where the content of the promotion may in part have described the nature of our business, we caution potential investors not to rely on these promotional and speculative statements and any claims touting future performance, anticipated trajectories of our stock price, or urging investors to take action immediately.The Company advises potential investors that they should only rely on information provided by the Company, which manages internally all investor relations, marketing and corporate communications. More preciously, for information about the Company investors should go to the Company’s website at www.item9labscorp.com. The Company directs interested investors to rely on information contained on this website, through our press releases, and / or our filings with the Securities Exchange Commission, together with advice from an independent and qualified financial advisor to see if an investment in t...