Nationally Recognized True Cannabis Franchise to Complement and Enhance Company’s Existing Products
PHOENIX, 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:
Item 9 Labs Corp. (OTC PINK:INLB) is a vertically integrated multi-state cannabis operator headquartered in Arizona. The Company creates best-in-class products and canna-business solutions designed to help people become the best versions of themselves. With an award-winning CPG brand and nationally recognized application team, Item 9 Labs improves the cannabis experience while providing transparency, consistency, and well-being for those relying on them. For additional information, please visit: https://www.item9labscorp.com
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties, including, but not limited to, risks and effects of legal and administrative proceedings and governmental regulation, especially in a foreign country, future financial and operational results, competition, general economic conditions, proposed transactions that are not legally binding obligations of the company and the ability to manage and continue growth. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include the introduction of new technology, market conditions and those set forth in reports or documents we file from time to time with the SEC. We undertake no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Item 9 Labs
Jayne Levy, Director of Communications
Brett Mass, Managing Partner
Phone: (646) 536-7331
SOURCE: Item 9 Labs Corp.
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