Business
Item 9 Labs Corp. Retains Sharp Capital Advisors to Facilitate a Sale of the Business
Item 9 Labs Corp. Retains Sharp Capital Advisors to Facilitate a Sale of the Business.
About this update from Item 9 Labs Corp.
[{"type":"text","content":"\n\n\n\nItem 9 Labs Corp. Retains Sharp Capital Advisors to Facilitate a Sale of the Business\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. Retains Sharp Capital Advisors to Facilitate a Sale of the Business\nPR Newswire\nPHOENIX, Dec. 19, 2023\n\n\n\nPHOENIX, Dec. 19, 2023 /PRNewswire/ -- Item 9 Labs Corp. (OTCPK: INLB) (\"INLB\" or the \"Company\"), a vertically integrated cannabis operator and dispensary franchisor that produces high-grade, award-winning products has retained Sharp Capital Advisors LLC (\"Sharp\") to assist in the exploration of a sale of the Company. The Company consists of two core operating businesses, Item 9 Labs and Unity Rd.\n\nItem 9 Labs consists of a highly efficient cultivation operation in a 20,000 ft2 facility on 49 acres in Coolidge, AZ. This facility generates award-winning flower, used to fuel its own branded products, generating ~$20 million in sales over the trailing twelve month period.\nUnity Rd. is the first national cannabis dispensary franchisor and a member of the International Franchise Association (IFA). With three active franchises (New Jersey, Colorado, and South Dakota) and a robust pipeline of additional franchisee opportunities, the Unity Rd. business is a capital efficient and asset-light model to distribute consistent quality brands in multiple states.\nINLB owns an additional asset in Pahrump, Nevada, consisting of a partially completed 20,000 ft2 facility on 4.6 acres of land with two associated licenses.\nResolute Commercial Services, LLC was appointed as the receiver for INLB in July, 2023 by the Superior Court of Arizona in the County of Maricopa.\nFor additional information, please contact:\nColin Campbell, Managing Director, Sharp Capital Advisors LLCEmail: [email protected]: 213-422-7704\nAbout Item 9 Labs Corp\nItem 9 Labs Corp. operates as a vertically integrated cannabis operator and dispensary franchisor in the United States. The company produces cannabis and cannabis-related products in various categories, such as flower; concentrates; distillates; and hardware. It offers ca...