Engine Media Announces Intention To File A Notice Of Intention To Make A Normal Course Issuer Bid

 

NEW YORK, October 4, 2021 — Engine Media Holdings, Inc. (“Engine” or the “Company”; NASDAQ: GAME; TSX-V: GAME), an esports/sports gaming and next-generation media solutions company, announces that it intends to file with the TSX Venture Exchange (the “TSXV”) a Notice of Intention to Make a Normal Course Issuer Bid, which will allow the Company to purchase outstanding Company common shares.  The implementation of the NCIB remains subject to the approval of the TSXV.

The NCIB will become effective three trading days following receipt of TSXV approval and will remain in effect until the earlier of (i) the date that is 12 months following commencement of the NCIB, (ii) the date on which the Company acquires the maximum number of common shares permitted under the NCIB, or (iii) the date upon which the Company provides written notice of termination of the NCIB to the TSXV.

The Company intends to engage Canaccord Genuity as its broker for the NCIB.  Share purchases under the NCIB will be conducted through the facilities of the TSXV, and purchases of common shares will be made in accordance with the applicable policies of the TSXV at the prevailing market price of such common shares at the time of purchase.  All common shares acquired by the Company under the NCIB will be cancelled.

The Company plans to implement the NCIB because it believes that, from time to time, the market price of its common shares may not fully reflect the underlying value of the Company’s business and its future prospects. Accordingly, the Company believes that having the ability to purchase its common shares will be in the interest of the Company and represents an opportunity to enhance shareholder value.

To the Company’s knowledge, none of the officers, directors or insiders of the Company, or any associate of such person, or any associate of affiliate of the Company, has any present intention to sell any securities to the Company pursuant to the NCIB. The Company has not previously purchased for cancellation any of its outstanding common shares.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor may there be any sale of the common stock in the public offering described above in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Engine Media Holdings, Inc.

Engine Media Holdings Inc. is traded publicly under the ticker symbol (NASDAQ: GAME) (TSX-V: GAME). Engine provides premium social sports and esports gaming experiences, as well as unparalleled data analytics, marketing, advertising, and intellectual property to support its owned and operated direct-to-consumer properties while also providing these services to enable its clients and partners. The company’s subsidiaries include Stream Hatchet, the global leader in gaming video distribution analytics; Sideqik, a social influencer marketing discovery, analytics, and activation platform; Eden Games, a premium motorsport video game developer and publisher across console and mobile gaming; WinView Games, a social predictive play-along gaming platform for viewers to play while watching live events; UMG, an end-to-end competitive esports platform powering and broadcasting major esports events, as well as daily community tournaments, matches, and ladders; and Frankly Media, a digital publishing platform used to create, distribute and monetize content across all digital channels. Engine Media generates revenue through a combination of direct-to-consumer and subscription fees, streaming technology and data SaaS-based offerings, programmatic advertising, and sponsorships.

Cautionary Statement on Forward-Looking Information

This news release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Engine to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. In respect of the forward-looking information contained herein, including the use of the NCIB and the potential outcomes and benefits to be derived therefrom, Engine has provided such statements and information in reliance on certain assumptions that management believed to be reasonable at the time. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements stated herein to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on forward-looking information contained in this news release.

The forward-looking statements contained in this news release are made as of the date of this release and, accordingly, are subject to change after such date. Engine does not assume any obligation to update or revise any forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf, except as required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For Further Information:

Investors
Ryan Lawrence, ICR
Ryan.Lawrence@icrinc.com
332-242-4321

Media
James Goldfarb, Sloane & Company
jgoldfarb@sloanepr.com
212-446-1869

 

Engine Media Announces Intention To File A Notice Of Intention To Make A Normal Course Issuer Bid

 

NEW YORK, October 4, 2021 — Engine Media Holdings, Inc. (“Engine” or the “Company”; NASDAQ: GAME; TSX-V: GAME), an esports/sports gaming and next-generation media solutions company, announces that it intends to file with the TSX Venture Exchange (the “TSXV”) a Notice of Intention to Make a Normal Course Issuer Bid, which will allow the Company to purchase outstanding Company common shares.  The implementation of the NCIB remains subject to the approval of the TSXV.

The NCIB will become effective three trading days following receipt of TSXV approval and will remain in effect until the earlier of (i) the date that is 12 months following commencement of the NCIB, (ii) the date on which the Company acquires the maximum number of common shares permitted under the NCIB, or (iii) the date upon which the Company provides written notice of termination of the NCIB to the TSXV.

The Company intends to engage Canaccord Genuity as its broker for the NCIB.  Share purchases under the NCIB will be conducted through the facilities of the TSXV, and purchases of common shares will be made in accordance with the applicable policies of the TSXV at the prevailing market price of such common shares at the time of purchase.  All common shares acquired by the Company under the NCIB will be cancelled.

The Company plans to implement the NCIB because it believes that, from time to time, the market price of its common shares may not fully reflect the underlying value of the Company’s business and its future prospects. Accordingly, the Company believes that having the ability to purchase its common shares will be in the interest of the Company and represents an opportunity to enhance shareholder value.

To the Company’s knowledge, none of the officers, directors or insiders of the Company, or any associate of such person, or any associate of affiliate of the Company, has any present intention to sell any securities to the Company pursuant to the NCIB. The Company has not previously purchased for cancellation any of its outstanding common shares.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor may there be any sale of the common stock in the public offering described above in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Engine Media Holdings, Inc.

Engine Media Holdings Inc. is traded publicly under the ticker symbol (NASDAQ: GAME) (TSX-V: GAME). Engine provides premium social sports and esports gaming experiences, as well as unparalleled data analytics, marketing, advertising, and intellectual property to support its owned and operated direct-to-consumer properties while also providing these services to enable its clients and partners. The company’s subsidiaries include Stream Hatchet, the global leader in gaming video distribution analytics; Sideqik, a social influencer marketing discovery, analytics, and activation platform; Eden Games, a premium motorsport video game developer and publisher across console and mobile gaming; WinView Games, a social predictive play-along gaming platform for viewers to play while watching live events; UMG, an end-to-end competitive esports platform powering and broadcasting major esports events, as well as daily community tournaments, matches, and ladders; and Frankly Media, a digital publishing platform used to create, distribute and monetize content across all digital channels. Engine Media generates revenue through a combination of direct-to-consumer and subscription fees, streaming technology and data SaaS-based offerings, programmatic advertising, and sponsorships.

Cautionary Statement on Forward-Looking Information

This news release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Engine to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. In respect of the forward-looking information contained herein, including the use of the NCIB and the potential outcomes and benefits to be derived therefrom, Engine has provided such statements and information in reliance on certain assumptions that management believed to be reasonable at the time. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements stated herein to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on forward-looking information contained in this news release.

The forward-looking statements contained in this news release are made as of the date of this release and, accordingly, are subject to change after such date. Engine does not assume any obligation to update or revise any forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf, except as required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For Further Information:

Investors
Ryan Lawrence, ICR
Ryan.Lawrence@icrinc.com
332-242-4321

Media
James Goldfarb, Sloane & Company
jgoldfarb@sloanepr.com
212-446-1869

 

Esports Entertainment Group’s EEG Labs Announces Partnership with Alpha Esports Tech Inc. to Design Computer Vision for Automated Scoring

 

Newark, New Jersey and Vancouver, British Columbia–(Newsfile Corp. – October 4, 2021) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLW) (or the “Company”) and their newly rebranded subsidiary EEG Labs (formerly Genji) are proud to announce a partnership with Alpha Esports Tech Inc. (“Alpha Tech”) (CSE: ALPA) (FSE: 9HN), (OTC Pink: APETF). The Company and Alpha Tech will develop a new computer vision tech system that will allow Alpha Tech’s online platform, GamerzArena, to conduct automated scoring for popular games such as Call of Duty and Fortnite.

The new computer vision tech simplifies match scoring and allows GamerzArena to detect many common types of fraudulent activity, such as falsifying game outcomes. An additional benefit of this new technology involves tournament results being available instantly on the leaderboards on GamerzArena. The automated tech will allow users to have an added sense of trust for the results of tournaments and contests due to the consistency of the computer vision tech around scoring. EEG Labs will also deploy its computer vision tech to extract data from additional sources and contests to optimize content plans for the Alpha Tech.

“We’re excited to continue expanding EEG Labs’ technology and GamerzArena is a great avenue to do so,” adds Magnus Leppaniemi, President of EEG Games. “In working together, we will pave the way for ground-breaking and efficient scoring of esports match results, allowing gamers everywhere to compete safely and reliably.”

“Partnering with EEG Labs to design a computer vision tech will push GamerzArena to the next level,” said Interim CEO, Matthew Schmidt. “The automated scoring system will give GamerzArena an added level of trust and security, which will help us continue to increase our user base.”

About Alpha Esports Tech Inc

Alpha Esports Tech Inc. is a technology company that focuses on emerging markets in Esports, mobile gaming, ecommerce, blockchain and high growth opportunities. Through a strong portfolio of technology assets, we bring a new edge to modern gaming.

About EEG Labs

EEG Labs is a subsidiary of Esports Entertainment Group that uses sophisticated statistical models, computer vision, and natural language processing to deliver cutting-edge broadcast optimization and talent scouting analytics.

About Esports Entertainment Group

Esports Entertainment Group is a full stack esports and online gambling company fueled by the growth of video-gaming and the ascendance of esports with new generations. Our mission is to help connect the world at large with the future of sports entertainment in unique and enriching ways that bring fans and gamers together. Esports Entertainment Group and its affiliates are well-poised to help fans and players to stay connected and involved with their favorite esports. From traditional sports partnerships with professional NFL/NHL/NBA/FIFA teams, community-focused tournaments in a wide range of esports, and boots-on-the-ground LAN cafes, EEG has influence over the full-spectrum of esports and gaming at all levels. The Company maintains offices in New Jersey, the UK and Malta. For more information visit www.esportsentertainmentgroup.com.

FORWARD-LOOKING STATEMENTS

The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.

Contact:

U.S. Investor Relations
RedChip Companies, Inc.
Dave Gentry
407-491-4498
dave@redchip.com

Media Inquiries
brandon.apter@esportsentertainmentgroup.com

Investor Relations Inquiries
Jeff@esportsentertainmentgroup.com

 

FAT Brands Inc. Completes $300 Million Acquisition of Twin Peaks Restaurant Chain

 

Sports Lodge Marks the First Polished Casual Dining Chain to Join FAT Brands

LOS ANGELES, Oct. 01, 2021 (GLOBE NEWSWIRE) — FAT (Fresh. Authentic. Tasty.) Brands Inc. (NASDAQ: FAT) (“FAT Brands” or the “Company”) today announced the completion of its pending acquisition of the Twin Peaks restaurant chain from Garnett Station Partners for $300 million. As a result of the acquisition, FAT Brands has entered a new restaurant category, polished casual dining. The transaction was funded with the proceeds of $250 million in principal amount of new securitization notes and the issuance to the sellers of shares of Series B preferred stock.

With the acquisition of Twin Peaks, FAT Brands will have more than 2,100 franchised and corporate-owned stores around the world with combined annual system-wide sales of approximately $1.8 billion. The addition of the sports lodge concept, including the new stores due to open and under development, is expected to increase the Company’s post-COVID-19 normalized EBITDA by approximately $25 to $30 million. The Twin Peaks transaction marks the third acquisition in the past twelve months for the rapidly growing global franchising company, including the acquisitions of Johnny Rockets in September 2020 and Global Franchise Group in July 2021.

“FAT Brands is committed to an aggressive growth strategy, which underlies our strong M&A activity over the last year. When assessing potential acquisitions, we look to identify brands that not only complement our existing portfolio, but also deliver high average unit volumes and a strong growth pipeline, said FAT Brands CEO Andy Wiederhorn. “Twin Peaks checks all of these boxes. This is a brand that we can grow globally at a fast pace, and we look forward to building upon the strong growth that was achieved under Garnett Station Partners.”

For more information on FAT Brands, visit www.fatbrands.com.

###

About FAT (Fresh. Authentic. Tasty.) Brands

FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets and develops fast casual and casual dining restaurant concepts around the world. The Company currently owns 14 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Great American Cookies, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises over 2,000 units worldwide. For more information on FAT Brands, please visit www.fatbrands.com.

About Twin Peaks

Founded in 2005 in the Dallas suburb of Lewisville, Twin Peaks now has 82 locations in 25 states. Twin Peaks is the ultimate sports lodge featuring made-from-scratch food and the coldest beer in the business surrounded by scenic views and the latest in high-definition TVs. At every Twin Peaks, guests are immediately welcomed by a Twin Peaks team member and served up a menu made for MVPs. From its smashed and seared to order burgers to in-house smoked ribs and hand-breaded wings, guests can expect menu items capable of satisfying every appetite. To learn more about franchise opportunities, visit www.twinpeaksfranchise.com. For more information, visit www.twinpeaksrestaurant.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the future financial performance and growth of FAT Brands following the acquisition of Twin Peaks, including estimates of annual EBITDA and annual revenues following the acquisition, the ability to open new Twin Peak’s stores under development, and the Company’s ability to conduct future accretive and successful acquisitions. Forward-looking statements reflect the Company’s expectations concerning the future and are subject to significant business, economic and competitive risks, uncertainties and contingencies including, but not limited to, the Company’s ability to successfully integrate and exploit the synergies of the acquisition of Twin Peaks, the Company’s ability to grow and expand revenues and earnings following the acquisition, and uncertainties surrounding the severity, duration and effects of the COVID-19 pandemic. These risks, uncertainties and contingencies are difficult to predict and beyond our control, and could cause our actual results to differ materially from those expressed or implied in such forward-looking statements. We refer you to the documents we file from time to time with the Securities and Exchange Commission, such as our reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of these and other risks and uncertainties that could cause our actual results to differ materially from our current expectations and from the forward-looking statements contained in this press release. We undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date of this press release.

About Non-GAAP Projected Financial Measures

This press release includes projections of future EBITDA, a financial measure that is not prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). EBITDA is defined as net income (loss), before interest expense, income tax expense (benefit), depreciation and amortization expense. EBITDA is not a measurement of the Company’s financial performance under GAAP, and should not be considered in isolation or as an alternative to net income (loss) as a measure of financial performance, cash flows from operating activities as a measure of liquidity, or any other performance measure derived in accordance with GAAP. The Company believes that EBITDA is an important supplemental measure of its operating performance because it eliminates the impact of expenses that do not relate to business performance. The Company also believes that this non-GAAP measure is useful to investors because it and similar measures are frequently used by securities analysts, investors and other interested parties to evaluate companies in our industry and provide additional information regarding growth rates on a more comparable basis than would be provided without such adjustments.

The Company prepared the information included in this press release based upon available information and assumptions and estimates that it believes are reasonable. The Company cannot assure you that its estimates and assumptions will prove to be accurate. Additionally, to the extent that forward-looking non-GAAP financial measures are provided, they are presented on a non-GAAP basis without reconciliations of such forward-looking non-GAAP financial measures due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation.

MEDIA C ONTACT :
Erin Mandzik, JConnelly
emandzik@jconnelly.com
862-246-9911

INVESTOR RELATIONS:
Lynne Collier, ICR
IR-FATBrands@icrinc.com
646-430-2216

Source: FAT Brands Inc.

Friday, October 01, 2021

Bassett Furniture (BSET)
Furniture Demand Remains Strong; Reports 3Q21 Results

Bassett Furniture Industries, Inc. is a leading manufacturer and marketer of high-quality home furnishings. With 96 company- and licensee-owned stores located throughout the United States, Bassett has leveraged its strong brand name in furniture into a network of corporate and licensed stores that focus on providing consumers with a friendly environment for buying furniture and accessories. Bassett’s retail strategy includes stylish, custom-built furniture that features the latest on-trend furniture styles, free in-home design visits, and coordinated decorating accessories. The Company also has a traditional wholesale business with more than 700 accounts on the open market and a logistics business specializing in the transport and warehousing of home furnishings. In addition, Bassett sells its products through its website at www.bassettfurniture.com. With revenues in excess of $450 million, approximately 75% of its goods are manufactured, assembled and/or finished in factories located in Virginia, North Carolina and Alabama with the remainder primarily sourced from Asia. The Company was founded in 1902 and is based in Bassett, Virginia.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

3Q21 Results. Revenue came in at $118.9 million, up 29.8% y-o-y and was up 8.7% compared to the non-COVID impacted 3Q19. Wholesale sales rose 32.1%, while Retail sales increased 10.5% and Logistics segment revenue was up 19.1%. Bassett reported net income of $3.0 million, or $0.31 per share, compared to net income of $2.2 million, or $0.22 per share, last year. We had forecast revenue of $120 million and EPS of $0.32.


Backlog Continues to Climb.  Wholesale backlog hit $92.8 million at the end of the quarter, up from $87.7 million at the end of the second quarter, and up from $37.4 million a year ago. Backlog continued to grow in the fourth quarter on the back of strong Labor Day retail sales. Written sales increased 2.6% in the quarter …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

 

FAT Brands Inc. Completes $300 Million Acquisition of Twin Peaks Restaurant Chain

 

Sports Lodge Marks the First Polished Casual Dining Chain to Join FAT Brands

LOS ANGELES, Oct. 01, 2021 (GLOBE NEWSWIRE) — FAT (Fresh. Authentic. Tasty.) Brands Inc. (NASDAQ: FAT) (“FAT Brands” or the “Company”) today announced the completion of its pending acquisition of the Twin Peaks restaurant chain from Garnett Station Partners for $300 million. As a result of the acquisition, FAT Brands has entered a new restaurant category, polished casual dining. The transaction was funded with the proceeds of $250 million in principal amount of new securitization notes and the issuance to the sellers of shares of Series B preferred stock.

With the acquisition of Twin Peaks, FAT Brands will have more than 2,100 franchised and corporate-owned stores around the world with combined annual system-wide sales of approximately $1.8 billion. The addition of the sports lodge concept, including the new stores due to open and under development, is expected to increase the Company’s post-COVID-19 normalized EBITDA by approximately $25 to $30 million. The Twin Peaks transaction marks the third acquisition in the past twelve months for the rapidly growing global franchising company, including the acquisitions of Johnny Rockets in September 2020 and Global Franchise Group in July 2021.

“FAT Brands is committed to an aggressive growth strategy, which underlies our strong M&A activity over the last year. When assessing potential acquisitions, we look to identify brands that not only complement our existing portfolio, but also deliver high average unit volumes and a strong growth pipeline, said FAT Brands CEO Andy Wiederhorn. “Twin Peaks checks all of these boxes. This is a brand that we can grow globally at a fast pace, and we look forward to building upon the strong growth that was achieved under Garnett Station Partners.”

For more information on FAT Brands, visit www.fatbrands.com.

###

About FAT (Fresh. Authentic. Tasty.) Brands

FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets and develops fast casual and casual dining restaurant concepts around the world. The Company currently owns 14 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Great American Cookies, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises over 2,000 units worldwide. For more information on FAT Brands, please visit www.fatbrands.com.

About Twin Peaks

Founded in 2005 in the Dallas suburb of Lewisville, Twin Peaks now has 82 locations in 25 states. Twin Peaks is the ultimate sports lodge featuring made-from-scratch food and the coldest beer in the business surrounded by scenic views and the latest in high-definition TVs. At every Twin Peaks, guests are immediately welcomed by a Twin Peaks team member and served up a menu made for MVPs. From its smashed and seared to order burgers to in-house smoked ribs and hand-breaded wings, guests can expect menu items capable of satisfying every appetite. To learn more about franchise opportunities, visit www.twinpeaksfranchise.com. For more information, visit www.twinpeaksrestaurant.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the future financial performance and growth of FAT Brands following the acquisition of Twin Peaks, including estimates of annual EBITDA and annual revenues following the acquisition, the ability to open new Twin Peak’s stores under development, and the Company’s ability to conduct future accretive and successful acquisitions. Forward-looking statements reflect the Company’s expectations concerning the future and are subject to significant business, economic and competitive risks, uncertainties and contingencies including, but not limited to, the Company’s ability to successfully integrate and exploit the synergies of the acquisition of Twin Peaks, the Company’s ability to grow and expand revenues and earnings following the acquisition, and uncertainties surrounding the severity, duration and effects of the COVID-19 pandemic. These risks, uncertainties and contingencies are difficult to predict and beyond our control, and could cause our actual results to differ materially from those expressed or implied in such forward-looking statements. We refer you to the documents we file from time to time with the Securities and Exchange Commission, such as our reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of these and other risks and uncertainties that could cause our actual results to differ materially from our current expectations and from the forward-looking statements contained in this press release. We undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date of this press release.

About Non-GAAP Projected Financial Measures

This press release includes projections of future EBITDA, a financial measure that is not prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). EBITDA is defined as net income (loss), before interest expense, income tax expense (benefit), depreciation and amortization expense. EBITDA is not a measurement of the Company’s financial performance under GAAP, and should not be considered in isolation or as an alternative to net income (loss) as a measure of financial performance, cash flows from operating activities as a measure of liquidity, or any other performance measure derived in accordance with GAAP. The Company believes that EBITDA is an important supplemental measure of its operating performance because it eliminates the impact of expenses that do not relate to business performance. The Company also believes that this non-GAAP measure is useful to investors because it and similar measures are frequently used by securities analysts, investors and other interested parties to evaluate companies in our industry and provide additional information regarding growth rates on a more comparable basis than would be provided without such adjustments.

The Company prepared the information included in this press release based upon available information and assumptions and estimates that it believes are reasonable. The Company cannot assure you that its estimates and assumptions will prove to be accurate. Additionally, to the extent that forward-looking non-GAAP financial measures are provided, they are presented on a non-GAAP basis without reconciliations of such forward-looking non-GAAP financial measures due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation.

MEDIA C ONTACT :
Erin Mandzik, JConnelly
emandzik@jconnelly.com
862-246-9911

INVESTOR RELATIONS:
Lynne Collier, ICR
IR-FATBrands@icrinc.com
646-430-2216

Source: FAT Brands Inc.

Friday, October 01, 2021

Bassett Furniture (BSET)
Furniture Demand Remains Strong; Reports 3Q21 Results

Bassett Furniture Industries, Inc. is a leading manufacturer and marketer of high-quality home furnishings. With 96 company- and licensee-owned stores located throughout the United States, Bassett has leveraged its strong brand name in furniture into a network of corporate and licensed stores that focus on providing consumers with a friendly environment for buying furniture and accessories. Bassett’s retail strategy includes stylish, custom-built furniture that features the latest on-trend furniture styles, free in-home design visits, and coordinated decorating accessories. The Company also has a traditional wholesale business with more than 700 accounts on the open market and a logistics business specializing in the transport and warehousing of home furnishings. In addition, Bassett sells its products through its website at www.bassettfurniture.com. With revenues in excess of $450 million, approximately 75% of its goods are manufactured, assembled and/or finished in factories located in Virginia, North Carolina and Alabama with the remainder primarily sourced from Asia. The Company was founded in 1902 and is based in Bassett, Virginia.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

3Q21 Results. Revenue came in at $118.9 million, up 29.8% y-o-y and was up 8.7% compared to the non-COVID impacted 3Q19. Wholesale sales rose 32.1%, while Retail sales increased 10.5% and Logistics segment revenue was up 19.1%. Bassett reported net income of $3.0 million, or $0.31 per share, compared to net income of $2.2 million, or $0.22 per share, last year. We had forecast revenue of $120 million and EPS of $0.32.


Backlog Continues to Climb.  Wholesale backlog hit $92.8 million at the end of the quarter, up from $87.7 million at the end of the second quarter, and up from $37.4 million a year ago. Backlog continued to grow in the fourth quarter on the back of strong Labor Day retail sales. Written sales increased 2.6% in the quarter …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

 

EEG’s iGaming Division Hits New Revenue Record, SportNation Nominated for Award

 

Newark, New Jersey–(Newsfile Corp. – September 30, 2021) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLW) (or the “Company”) and their SportNation.bet business has been nominated for eGaming Review’s (“EGR”) Marketing Campaign of the Year Award for the campaign “SportNation Rewards”, which allows customers to have total control of the rewards they earn on the platform. The EGR Awards will take place on November 25, 2021, in London.

“We’re extremely honored to have been nominated for such a prestigious award. Our team has put in countless hours of work to make this campaign successful,” said Michael Wilson, President of EEG’s iGaming. “Rewards are at the core of our product and allow us to provide our customers with a truly unique offering. The data continues to tell us how much our customers enjoy the wide variety of options we have available and we’re looking forward to growing this program even further in the coming years.”

“Michael and his team are doing a phenomenal job growing our iGaming segment, and this nomination is yet another validation of their continued hard work,” added Grant Johnson, CEO of EEG. “Just this week, our iGaming segment posted more than a quarter million dollars in revenue in a single day, a new daily record. I look forward to sharing more insight into these and other successes on our upcoming fiscal 2021 earnings call in October.”

SportNation.bet’s Rewards program is activated each time a customer places a sports or casino bet. The amount of points earned is based on the bet type and stake amount. Customers are able to see how many points are possible to earn prior to placing a bet. Once the bet is settled, points are instantly credited to their account. Rewards available for redemption include cash back, free bets, deposit bonuses, raffles, charitable donations and UberEats vouchers.

In 2021, customers that engaged with rewards have 277% more activity days compared to those that don’t. SportsNation.bet is among the first sportsbooks to offer cash back as a reward for customers. The campaign has been extremely popular with customers, and it has been instrumental in player value and retention. All of the technology used for the campaign was created in-house by the iGaming team.

About Esports Entertainment Group
Esports Entertainment Group is a full stack esports and online gambling company fueled by the growth of video-gaming and the ascendance of esports with new generations. Our mission is to help connect the world at large with the future of sports entertainment in unique and enriching ways that bring fans and gamers together. Esports Entertainment Group and its affiliates are well-poised to help fans and players to stay connected and involved with their favorite esports. From traditional sports partnerships with professional NFL/NHL/NBA/FIFA teams, community-focused tournaments in a wide range of esports, and boots-on-the-ground LAN cafes, EEG has influence over the full-spectrum of esports and gaming at all levels. The Company maintains offices in New Jersey, the UK and Malta. For more information visit www.esportsentertainmentgroup.com.

FORWARD-LOOKING STATEMENTS
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these
forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.

Contact:
U.S. Investor Relations
RedChip Companies, Inc.
Dave Gentry
407-491-4498
dave@redchip.com

Media Inquiries
brandon.apter@esportsentertainmentgroup.com

Investor Relations Inquiries
Jeff@esportsentertainmentgroup.com

 

EEG’s iGaming Division Hits New Revenue Record, SportNation Nominated for Award

 

Newark, New Jersey–(Newsfile Corp. – September 30, 2021) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLW) (or the “Company”) and their SportNation.bet business has been nominated for eGaming Review’s (“EGR”) Marketing Campaign of the Year Award for the campaign “SportNation Rewards”, which allows customers to have total control of the rewards they earn on the platform. The EGR Awards will take place on November 25, 2021, in London.

“We’re extremely honored to have been nominated for such a prestigious award. Our team has put in countless hours of work to make this campaign successful,” said Michael Wilson, President of EEG’s iGaming. “Rewards are at the core of our product and allow us to provide our customers with a truly unique offering. The data continues to tell us how much our customers enjoy the wide variety of options we have available and we’re looking forward to growing this program even further in the coming years.”

“Michael and his team are doing a phenomenal job growing our iGaming segment, and this nomination is yet another validation of their continued hard work,” added Grant Johnson, CEO of EEG. “Just this week, our iGaming segment posted more than a quarter million dollars in revenue in a single day, a new daily record. I look forward to sharing more insight into these and other successes on our upcoming fiscal 2021 earnings call in October.”

SportNation.bet’s Rewards program is activated each time a customer places a sports or casino bet. The amount of points earned is based on the bet type and stake amount. Customers are able to see how many points are possible to earn prior to placing a bet. Once the bet is settled, points are instantly credited to their account. Rewards available for redemption include cash back, free bets, deposit bonuses, raffles, charitable donations and UberEats vouchers.

In 2021, customers that engaged with rewards have 277% more activity days compared to those that don’t. SportsNation.bet is among the first sportsbooks to offer cash back as a reward for customers. The campaign has been extremely popular with customers, and it has been instrumental in player value and retention. All of the technology used for the campaign was created in-house by the iGaming team.

About Esports Entertainment Group
Esports Entertainment Group is a full stack esports and online gambling company fueled by the growth of video-gaming and the ascendance of esports with new generations. Our mission is to help connect the world at large with the future of sports entertainment in unique and enriching ways that bring fans and gamers together. Esports Entertainment Group and its affiliates are well-poised to help fans and players to stay connected and involved with their favorite esports. From traditional sports partnerships with professional NFL/NHL/NBA/FIFA teams, community-focused tournaments in a wide range of esports, and boots-on-the-ground LAN cafes, EEG has influence over the full-spectrum of esports and gaming at all levels. The Company maintains offices in New Jersey, the UK and Malta. For more information visit www.esportsentertainmentgroup.com.

FORWARD-LOOKING STATEMENTS
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these
forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.

Contact:
U.S. Investor Relations
RedChip Companies, Inc.
Dave Gentry
407-491-4498
dave@redchip.com

Media Inquiries
brandon.apter@esportsentertainmentgroup.com

Investor Relations Inquiries
Jeff@esportsentertainmentgroup.com

	Image Credit: Thomas Hawk (Flickr)

How a Marijuana Bill Becomes a Law – What’s in the MORE Act

 

The Marijuana Opportunity, Reinvestment and Expungement (MORE) Act took a significant procedural step forward. The MORE Act was taken up by the House Judiciary Committee, which is chaired by the bill’s sponsor, Rep. Jerry Nadler from NY. Nadler is expected to be presiding over a full Committee markup of the bill on September 30.

What’s a Markup of a Bill?

A committee markup is the key formal step a committee ultimately takes for the bill to advance to the House floor. The committee chair chooses the proposal that will be placed before the committee for markup. At the public meeting, members of the committee consider improvements or changes to the proposal by offering and voting on adding amendments.

When the committee agrees, by majority vote, to report the bill to the chamber, the markup process ends. Committees rarely hold a markup unless the proposal in question is expected to receive majority support when voted on.

What’s in MORE

The overriding goal of the MORE Act is to federally deschedule cannabis (federal criminal status) and expunge the records of those with previous marijuana convictions. However, it is comprehensive and seeks to also accomplish the following:

• Impose a 5% tax on cannabis products and require revenues to be deposited into a trust fund.
• Provide the path to remove low-level, federal marijuana convictions, and incentivize states and local governments to follow.
• Create paths of opportunity for business participation in an emerging less regulated cannabis industry.  Provide entrepreneurs opportunities previously unavailable by prohibition through the Small Business Administration grant eligibility.
• Allow veterans, for the first time, to obtain medical cannabis recommendations from their VA doctors in states that have an established medical cannabis program.
• Protect and respect the basic rights and civil liberties of cannabis consumers under federal law when it comes to public benefits.
• Remove the threat of deportation for immigrants accused of minor marijuana infractions or who are gainfully employed in a state-legal cannabis industry.
• Provide critical reinvestment grant opportunities for communities that have suffered disproportionate rates of marijuana-related enforcement actions.
• Require the Bureau of Labor Statistics to regularly publish demographic data on cannabis business owners and employees.

Despite many competing priorities, Marijuana legalization seems to have regained its impetus on Capitol Hill. The Marijuana Opportunity, Reinvestment and Expungement (MORE) Act may be the beginning of what cannabis investors in all areas of this broad category have been waiting for. Federal laws have been an anchor on growth.

 

More on MORE

Yesterday’s markup comes one week after the House voted in favor of a Pentagon budget appropriations bill that includes an amendment that would shield banks that service state-legal marijuana businesses from being penalized by federal regulators.

Only ten years ago, zero states allowed marijuana for recreational use. Currently, 18 states and Washington, DC, have legalized recreational marijuana. Medical cannabis use is now permitted in 36 states and four territories. In the 2020 general election, marijuana legalization appeared on the ballot in conservative-leaning states: Alaska, Montana, North Dakota, and South Dakota. Legalization won in three of them, losing only in North Dakota. In recent years cannabinoid products (CBD) can be found on store shelves in supermarkets in many states. In a country divided into economic, philosophical, and ideological groups, the full legalization of marijuana enjoys support across many lines. Two-thirds of Americans currently favor legalization (83% of Democrats, 72% of Independents, and 48% of Republicans).

The mainstreaming of marijuana, both medical and recreational, has accelerating momentum.  It impacts business interests from agriculture to medicine, real estate, retail and online sales, etc. For those reasons, investors pay close attention to the current movement on the federal legalization front, but on a more micro level, they assess which sectors of the news industry will be impacted the most.

Marijuana-related businesses are in their infancy and seem to be headed for a growth spurt. Channelchek helps investors dig through the numbers, news, and strengths of many small and microcap businesses. We provide research on a growing list in the arena. If you don’t find your ticker available at Channelchek Company Data contact us, we’ll work to add it. Also, register to get regular updates on this and other potentially high-growth sectors.

 

Paul Hoffman

Managing Editor, Channelchek

Suggested Reading:

Federal Law Questions Still Loom for the Cannabis Industry

The Future of Cannabis Crosses Many Industries

Apple’s Marijuana Decision Will Lead to Many Critical Decisions for Investors

The Synergistic Effects of Crypto on Cannabis Businesses

 

Sources:

https://www.congress.gov/legislative-process/committee-consideration

https://www.congress.gov/search?q=%7B%22congress%22%3A%5B%22117%22%5D%2C%22source%22%3A%22all%22%2C%22search%22%3A%22marijuana%22%7D

https://www.jdsupra.com/legalnews/window-on-washington-vol-5-issue-39-3685103/

https://www.investingdaily.com/68090/military-says-yes-to-pot-and-psychedelics/

https://www.jdsupra.com/legalnews/window-on-washington-vol-5-issue-39-3685103/

 

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Tuesday, September 28, 2021

Item 9 Labs (INLB)
Expanding Unity Rd. Footprint

Item 9 Labs Corp. (OTCQX: INLB) is a vertically integrated cannabis operator and dispensary franchisor delivering premium products from its large-scale cultivation and production facilities in the United States. The award-winning Item 9 Labs brand specializes in best-in-class products and user experience across several cannabis categories. The company also offers a unique dispensary franchise model through the national Unity Rd. retail brand. Easing barriers to entry, the franchise provides an opportunity for both new and existing dispensary owners to leverage the knowledge, resources, and ongoing support needed to thrive in their state compliantly and successfully. Item 9 Labs brings the best industry practices to markets nationwide through distinctive retail experience, cultivation capabilities, and product innovation. The veteran management team combines a diverse skill set with deep experience in the cannabis sector, franchising, and the capital markets to lead a new generation of public cannabis companies that provide transparency, consistency, and well-being. Headquartered in Arizona, the company is currently expanding its operations space by 650,000+ square feet on its 50-acre site, one of the largest properties in Arizona zoned to grow and cultivate flower. For additional information, visit item9labscorp.com.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

New Agreements. Item 9 Labs announced continued development of its cannabis dispensary franchise brand, Unity Rd., across the Northeastern United States with new signed agreements for development in New Jersey and Virginia and the signing of a lease for the first Unity Rd. dispensary in Maine by an existing partner. Unity Rd. has multiple agreements signed with more than 15 entrepreneurial groups who are in various stages of development across eight states.


New Jersey.  Adult use was approved by voters in November 2020 and in August regulators approved initial rules for the program that will set up the state’s retail market. The New Jersey market is projected to hit around $750 million of sales in the first full year growing to $2.1 billion in the fourth year …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Tuesday, September 28, 2021

Stem Holdings (STMH)(STEM:CA)
California E-Commerce and Delivery Expansion

Stem Holdings Inc is engaged in the purchasing, improving, and leasing of properties and finance assets which are operated by third parties and are used for the cultivation and retail sale of marijuana. Its properties includes 42nd Street, and Mulino Farm which are used for agriculture. The company generates its revenue in the form of rental income from tenants.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

California Expansion. On the heels of last weeks expansion in Oregon, Driven by Stem has received a non-storefront license to open a distribution hub in Mendota, located in the county of Fresno, enabling it to provide better service to consumers with its Budee e-commerce platform in four key counties in Northern California, home to 2.3 million residents.


Benefits.  The expansion is expected to drive topline sales with greater efficiency, as the Company anticipates savings of up to $1 million in operating expenses, with significant savings in gross receipt taxes. The Company plans for the Mendota hub to become operational in October through a new 2,000 square foot facility, which will be dedicated to delivery service in 60 minutes or less …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Item 9 Labs Corp.’s Dispensary Franchise Expands NE Footprint into 2 New States

 

Unity Rd., a Cannabis Dispensary Franchise, Signs Agreements with Entrepreneurial Groups for Development in New Jersey and Virginia; Existing Partner Signs Lease in Maine for their First Unity Rd. Shop

PHOENIX, Sept. 23, 2021 /PRNewswire/ — Item 9 Labs Corp. (OTCQX: INLB) (the “Company”)—a vertically integrated, cannabis dispensary franchisor and operator that produces premium, award-winning products—today announced continued development of its cannabis dispensary franchise brand, Unity Rd., across the Northeastern United States. The industry trailblazer signed agreements for New Jersey and Virginia alongside continued expansion across the Northeast region:

– New Jersey – The New Jersey agreement was signed with an experienced entrepreneur whose familiarity with franchising drew him to the investment opportunity. Dish Patel and his business partner will join the strong list of three franchise groups that have signed with Unity Rd. to bring the brand to New Jersey – they’re all awaiting legislation to clear them for development.

– Virginia – As investors line up for the opportunity to bring Unity Rd.’s business model to their communities, Laurin Wallace, along with two business partners, signed on recently to bring a Unity Rd. to the Old Dominion state. 

– Maine – Unity Rd. also supported their Maine franchise group in securing a lease and are now working with them on securing a dispensary license. This group was originally planning on developing in Massachusetts but pivoted to pursue opportunities in Maine to break into the burgeoning industry sooner. The state’s adult-use market launched in October 2020 and has been flourishing. This past August, it exceeded $10 million in sales for the first time in one month.

Learn more about Item 9 Labs Corp. and its cannabis franchise, Unity Rd., contact investors@item9labs.com or 800-403-1140, or visit https://investors.item9labscorp.com/.

Franchise Model Creates Low Corporate Capital Requirements for National Expansion

The Company acquired Unity Rd.’s parent company, OCG Inc., earlier this year, making it the first national, vertically integrated cannabis franchise company in the US. The combination of the Unity Rd. cannabis retail franchise and premium Item 9 Labs products puts Item 9 Labs Corp. in a unique industry position.

Item 9 Labs Corp.’s CEO Andrew Bowden, said “Unity Rd. franchise partners own and operate 100% of their businesses. Therefore, low corporate capital is required for national development of the brand, creating a capital-efficient method for both our retail and product expansion. By clustering our operations, we’re creating a focused network to more effectively launch the Unity Rd. and Item 9 Labs brands into new markets.”

Item 9 Labs Corp. plans to develop top tier cultivation and lab facilities all across the country as Unity Rd. franchises start to open – the first Unity Rd. franchise opened this past June in Boulder, Colorado. This strategic growth plan gives Unity Rd. operators front-of-the-line access to a reliable product supply chain and the Unity Rd. brand the national product consistency that consumers have come to expect from franchises. It also eases new market product entry with a built-in distribution platform that will bring Item 9 Labs across the nation.

Currently, Unity Rd. has multiple agreements signed with more than 15 entrepreneurial groups who are in various stages of development across eight states.

As a traditional franchise model, Unity Rd. franchise partners own 100% of their dispensary license and business, while benefitting from one of the safest routes for entrepreneurship in the complex, highly-regulated cannabis industry. The dispensary franchise’s time-tested Standard Operating Procedures (SOPs) and veteran team guide franchise partners through every operational function of the business, whether it be assisting with cash flow, product selection or the ever-changing regulations. 

“The cannabis industry and all its complexities can be intimidating, leaving even the most capable of investors and operators unsure of where to start,” said Unity Rd.’s VP of Franchise Development Justin Livingston. “As part of the Unity Rd. network, our partners can operate their dispensaries more efficiently – resulting in more time to focus on growing the business rather than managing it. We’re offering the supportive network and tools they need to reach new heights and achieve their business goals.”  

Franchise partners sign 10-year agreements and pay a $100,000 franchise fee up-front. The Company also earns a residual monthly 5% gross royalty on top-line revenue and a 2% marketing royalty fee per location.

About Item 9 Labs Corp. 
Item 9 Labs Corp. (OTCQX: INLB) is a vertically integrated cannabis operator and dispensary franchisor delivering premium products from its large-scale cultivation and production facilities in the United States. The award-winning Item 9 Labs brand specializes in best-in-class products and user experience across several cannabis categories. The company also offers a unique dispensary franchise model through the national Unity Rd. retail brand. Easing barriers to entry, the franchise provides an opportunity for both new and existing dispensary owners to leverage the knowledge, resources, and ongoing support needed to thrive in their state compliantly and successfully. Item 9 Labs brings the best industry practices to markets nationwide through distinctive retail experience, cultivation capabilities, and product innovation. The veteran management team combines a diverse skill set with deep experience in the cannabis sector, franchising, and the capital markets to lead a new generation of public cannabis companies that provide transparency, consistency, and well-being. Headquartered in Arizona, the company is currently expanding its operations space by 650,000+ square feet on its 50-acre site, one of the largest properties in Arizona zoned to grow and cultivate flower. For additional information, visit item9labscorp.com.

About Unity Rd.
Unity Rd. is bridging the two previously disconnected worlds of cannabis and franchising. The industry trailblazer is the first to bring the cannabis dispensary franchise model to the United States—with duality of prowess in both industries to back it up. Built up from a collective 200 years in the legal cannabis industry and franchising, the company helps eager operators enter the complex industry with ease. The marijuana franchise pioneer offers its partners the knowledge, resources, and ongoing support needed to compliantly and successfully operate a dispensary. Launched in 2018, Unity Rd. has signed multiple agreements with more than 15 entrepreneurial groups across the country. 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. For more information, visit unityrd.com.

Media Contact:
Item 9 Labs
Jayne Levy, Director of Communications
Email: Jayne@item9labs.com

Investor Contact:
Item 9 Labs
800-403-1140
Email: investors@item9labs.com

SOURCE Item 9 Labs Corp.