Item 9 Labs Corp. to Acquire Colorado Dispensary, Kickstarts National Acquisition Growth Plan
1.7 min readPublished On: October 7th, 2021By News Team
PHOENIX– Item 9 Labs Corp. (OTCQX: INLB)—a vertically integrated cannabis dispensary franchisor and operator today announced it has signed an Asset Purchase Agreement (“APA”) for an existing dispensary license and storefront in Adams County, CO.
This will be the first corporate-owned shop under its cannabis dispensary franchise brand, Unity Rd., and is anticipated to open within the next 4-6 months. Currently, the Company is awaiting regulatory approval by Colorado’s Marijuana Enforcement Division (“MED”).
This APA is part of an overarching acquisition strategy that is intended to accelerate national expansion by creating turnkey investment opportunities for Unity Rd. franchise partners. The Company plans to convert acquired dispensaries into Unity Rd. shops, operate them internally and sell them to an existing or future franchise partner. This offers an expedited solution for entrepreneurs seeking immediate entry into cannabis. The Company’s dispensary acquisition program spans the entire state of Colorado, initially seeking opportunities in Denver, front range and compelling mountain towns.
“Our eyes are set on Colorado and building up the Unity Rd. brand to become one of the main players in the market,” said the Company’s Chief Strategy Officer, Jeffrey Rassas. “We’re in multiple ongoing negotiations with other Colorado dispensaries to become Unity Rd. shops. Here’s to the first of many.”
Item 9 Labs Corp. is also targeting the Arizona, Montana and Oklahoma markets as part of these development efforts. Through its Unity Rd. dispensary franchise, the Company is focused on building a national community of local dispensary owners who open their doors each day compliantly and with confidence because of the tools, products, systems and training their team provides.
“With Unity Rd., we’re keeping dispensary ownership local and thriving with the backing of a franchise system, Rassas added. “This growth plan ultimately keeps dispensary ownership in the hands of the local entrepreneur. They hire local and keep the wealth cannabis offers within their community.”
(This information is primarily sourced from Item 9. Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).
Newsteam at Highly Capitalized are some of the most experienced writers in cannabis and psychedelics business & finance. We cover capital markets, finance, branding, marketing and everything important in between. Most of all, we follow the money.
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