Tuesday, December 20, 2022
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 up to 640,000-plus square feet on its 50-acre site, one of the largest properties in Arizona zoned to grow and cultivate flower. For additional information, visit https://investors.item9labscorp.com/.
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Setting Up Shop. Last week, Item 9 Labs announced that the Company’s dispensary franchise, Unity Rd., will be expanding into Franklin Township in Somerset County, N.J. This is the Company’s first dispensary on the East Coast, and fourth state into which the franchise has expanded.
Additional Detail. The approval of the recreational business license was among the first the state has licensed, outside of existing medicinal cannabis businesses that were converted to recreational. The owner, Dishen Patel, has experience in private equity investing of consumer-driven brands, including restaurant concepts with a franchise infrastructure.
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