Item 9 Labs Corp. (OTCQX: INLB) (the "Company")—a vertically integrated cannabis dispensary franchisor and operator that produces premium, award-winning products—is pleased to announce today that its new 20,000 square-foot, state-of-the-art cultivation and lab facility in Pahrump, N.V. (the "Nevada Facility") is nearing completion and expected to be fully operational by end of 2022.
Phoenix-based Item 9 Labs Corp. said Wednesday it'll pay an undisclosed sum to acquire Canada's Sessions Cannabis, which generates about C$70 million in annual sales with 43 stores in Ontario. Item 9 Labs Corp. CEO Andrew Bowden said the acquisition "fast-tracks our entry into the Canadian market." Shares of Item 9 Labs are down 9.9% in 2022, compared to a drop of 46% by the AdvisorShares Pure US Cannabis ETF .
Item 9 Labs Corp. (OTCQX: INLB) (the "Company") — a vertically integrated cannabis dispensary franchisor and operator that produces premium, award-winning products — announced today that it has signed a definitive agreement to acquire Sessions Cannabis ("Sessions"), one of Canada's largest cannabis retail franchisors.