Tag: Item 9 Labs

Item 9 Labs (INLB) – First Quarter Earnings Released

Posted on by cpereira@noblefcm.com


Friday, February 17, 2023

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, Managing Director – Generalist 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.

1Q23 Results. Item 9 Labs reported revenue of $5.0 million and a net loss of $3.26 million, or a loss of $0.03 per share. Revenue grew from the $4.0 million reported in the fourth quarter of fiscal 2022. Notably, gross margin also improved, to 52.4% in the most recent quarter, from 16.1% in the fourth quarter and 38.8% in the year ago period. We had forecast revenue of $4.5 million, gross margin of 35.6%, and a net loss of $4.9 million, or a loss of $0.05 per share.

Sessions Acquisition. Earlier this week, Item 9 Labs announced it has secured the necessary financing to complete the acquisition of Sessions Cannabis, a deal first announced in May 2022. Sessions is one of Canada’s largest cannabis retail franchisors. The total cash purchase price of the transaction is $12.8 million, which is being fully funded through an Acquisition Line of Credit with a 5-year term from a commercial lender. The acquisition will create the largest international cannabis retail franchiser and publicly traded cannabis franchise company in North America.


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Release – Item 9 Labs Corp. Secures Financing to Complete Acquisition of Sessions Cannabis in March 2023

Posted on by aweinsoff@channelchek.com

Research News and Market Data on INLB

  • Acquisition expected to establish Item 9 Labs Corp. as the largest cannabis franchisor in North America & among the top 10 cannabis retailers
  • Sessions currently generates over CA$80 million in annual systemwide sales across more than 45 dispensaries in Ontario, with an Adjusted EBITDA* margin of approximately 65%

Item 9 Labs Corp. (OTCQX: INLB ) (the “Company”), a vertically integrated U.S. cannabis dispensary franchisor and operator that produces premium, award-winning products, shared that it has secured the necessary financing to complete the previously announced acquisition of Sessions Cannabis (“Sessions”), one of Canada’s largest cannabis retail franchisors. The total cash purchase price of the transaction is $12.8 million, which is being fully funded through an Acquisition Line of Credit with a 5-year term from a commercial lender.

“Our highly anticipated acquisition of Sessions is on track to close in March. We have completed the due diligence process, received all required approvals, and now, secured the financing to bring this transformative acquisition across the finish line and create the largest international cannabis retail franchiser and publicly traded cannabis franchise company in North America,” said CEO of Item 9 Labs Corp. Mike Weinberger.

The Canadian cannabis market is expected to reach upwards of $6.3 billion by 2026, according to data research firm BDSA . Most of the growth is projected to be produced from Ontario, Canada’s most populous province, as it contributes nearly $1.3 billion of legal sales alone.

Sessions currently generates more than CA$80 million in annual systemwide sales with over 45 locations open throughout Ontario, up from 40 earlier in 2022, and is continuing to grow rapidly. The franchise network consists of 15-plus franchisees, with over 10 who are multi-unit owner-operators. The franchise anticipates maintaining strong performance with multiple openings in prime retail shopping centers surrounded by well-known grocers, quick service restaurants, and more, already slated for the coming months.

The franchise business model will become fundamental to accommodate the shifts in the Canadian cannabis landscape and allow the future joint company to aid both existing independent dispensaries and prospective franchisees as part of its international growth strategy. By joining the greater combined North American franchise network of more than 50 dispensaries, they gain the ongoing, dedicated support and buying power needed to excel in highly competitive markets.

“Franchising is the key vehicle to unlocking untapped market potential and significantly increasing brand penetration,” Weinberger continued. “Sessions stores are strategically placed in prime retail locations and have not seen the same impact others have experienced in competitive Canadian cannabis markets. Their dispensaries are thriving, and we anticipate with our unified team that we will be able to scale quickly across the country.”

The closing of the acquisition is subject to customary closing conditions, details of which can be found in the Company’s 8-K filing on May 24, 2022 .

For more information about Item 9 Labs Corp. and its brands, visit item9labscorp.com . For potential merger and acquisition opportunities, contact Mark Busch at acquisitions@item9labs.com .

*Adjusted EBITDA is a non-GAAP financial measure of earnings. Adjusted EBITDA represents EBITDA plus stock-based compensation and non-recurring revenue and expenses.

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 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 item9labscorp.com .

ABOUT SESSIONS CANNABIS

Sessions Cannabis is a community focused retailer selling safe, Health Canada regulated cannabis. Sessions is one of Ontario’s first brick and mortar cannabis retailers with multiple locations in Ontario. The company’s mission is to bring people together by providing a retail experience that is inviting, comfortable and educational. More information can be found at sessions.ca .

FORWARD-LOOKING STATEMENTS

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.

Media Contact:
Item 9 Labs Corp.
krudny@unityrd.com

Investor Contact:
Item 9 Labs Corp.
800-403-1140
Investors@item9labscorp.com

Item 9 Labs (INLB) – Reports 4Q and Full Year 2022 Results

Posted on by cpereira@noblefcm.com


Thursday, January 26, 2023

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, Managing Director – Generalist 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.

4Q22 Results. Item 9 Labs filed its 10K last week for the fiscal year ending September 30, 2022. While the Company did not press release the results, we backed into the 4Q22 results which shows revenue of $4 million and a $15 million operating loss, driven by a $409,000 impairment charge and a $9.5 million loss on assets held for sale. Item 9 Labs recorded a net loss for the quarter of $18.4 million, or a loss of $0.19 per share. We had forecast revenue of $5.5 million, a $2.2 million operating loss, and a net loss of $3.9 million, or a loss of $0.04 per share.

Still Winning Awards. Item 9 Labs continues to pile up awards for its products, which we believe will not only help the Company through the current challenging market but also positions the Company for above average growth as the cannabis market rebounds. BDSA recognized Item 9 Labs as one of the top 10 cannabis brands in Arizona overall, along with top five placements across multiple vape categories.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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. 

Release – Item 9 Labs Closes Out 2022 as a Top 10 Cannabis Brand in Arizona

Posted on by aweinsoff@channelchek.com

Research News and Market Data on INLB

– Awarded Multiple First Place Podium Finishes in Arizona’s Largest Cannabis Competitions
– Named No. 1 Cannabis Brand in Arizona by MJ Brand Insights For Creative Brand Engagement

PHOENIX , Jan. 12, 2023 /PRNewswire/ — Item 9 Labs —the award-winning, premium cannabis brand from Item 9 Labs Corp. (OTCQX: INLB)—kicks off 2023 after a year of budding growth and achievements embedded in product innovation and increased consumer engagement.

The Arizona marijuana market has experienced one of the most rapid developments in consumer participation and retail expansion of any market over the past year, according to cannabis data research firm BDSA. With the legalization of adult-use marijuana in early 2021, Arizona has seen noticeable popularity across the pre-roll, flower and concentrate categories with the market predicted to exceed $1 billion by year end.

BDSA recognized Item 9 Labs as one of the top 10 cannabis brands in the state overall, along with top five placements across multiple vape categories.

“Wrapping up 2022 as a top 10 brand is a true testament to our team of extraction and cultivation experts and their deep commitment to delivering masterfully crafted cannabis products,” said Item 9 Labs Corp. Chief Executive Officer, Mike Weinberger . “In the year ahead, we are optimistic that our Item 9 Labs brand will continue building on this positive momentum while driving forward brand recognition and loyalty.”

In August 2022 , Item 9 Labs was recognized as the No. 1 cannabis brand in Arizona by MJ Brand Insights (MJBI) , the official publication of MJ Unpacked , for its creative brand engagement. Using a proprietary, comparison-based scoring system by Pioneer Intelligence, the technology leverages data to benchmark marketing performance of consumer-facing cannabis brands.

This past June, the brand launched a new permanent mainstay to its product lineup— 1-gram concentrate infused pre-rolls —recognizing the trending triple-digit growth of this category. Item 9 Labs infused pre-rolls are crafted with award-winning flower and live resin sugar, live resin badder or crumble concentrates, which are grown and extracted in-house. With products in 65 percent of Arizona’s dispensaries, the brand sold more than 13,000 units of its pre-rolls within the first two months and they have been flying off the shelves ever since.

Item 9 Labs consistently bolsters and strengthens its existing extensive product lineup. As the brand entered 2022, it introduced its best-selling proprietary vape technology Orion 710 Live Resin Pod and Battery System with a half-gram pod (500 mg) due to the popularity of its 1-gram (1000 mg) pod. Since hitting the market, Item 9 Labs sold nearly 64,000 units across the state, creating buzz amongst local consumers and generating a go-to vape option for the market.

“Last year was the first year we witnessed the true impact of legal cannabis sales and saw how consumer dynamics evolved alongside it,” said Item 9 Labs Corp. Chief Operating Officer, Chris Wolven . He added, “We put an emphasis on the art of innovation and fueled our go-to-market strategy to meet the increasing demand, and it shows in the awards we took home for product excellence.”

Item 9 Labs’ dedication to perfecting its cannabis products this past year did not go unnoticed. The brand earned multiple top podium finishes in Arizona’s largest and longest-running annual cannabis festivals and awards events. At the Spring Errl Cup and Fall Errl Cup this year, the brand was awarded:

  • First place for “Best Cannabis Vape Pen – Indica”
  • First place for “Best Cannabis Vape Pen – Sativa”
  • Second place for “Best Cannabis Flower – Sativa”
  • Second place for “Best Cannabis Vape Pen – Indica”
  • Second place for “Best Concentrate – Hybrid”
  • Third place for “Best Hand-Crafted Cannabis Product”
  • Third place for “Best Cannabis Vape Pen – Sativa”
  • Third place for “Best Derivative”

For more information on Item 9 Labs, the brand’s wide range of premium cannabis products and its awards, visit item9labs.com or Item 9 Labs’ Instagram .

ABOUT ITEM 9 LABS
Item 9 Labs cultivates the highest quality cannabis products while providing transparency, consistency and well-being for an enhanced cannabis experience. With more than 30 podium finishes in Arizona marijuana competitions, Item 9 Labs is a trusted source for premium cannabis products. Starting with intentionally grown flower, the Item 9 Labs product catalog spans across five core categories, including several active cannabis strains, cannabis vape products, premium concentrates and Orion vape technology. For additional information, visit item9labs. com .

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 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 item9labscorp. com .

FORWARD-LOOKING STATEMENTS
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.

Media Contact:
Lisa Sass
Serendipit Consulting
lsass@serendipitconsulting.com
602-283-5209

Investor Contact:
Item 9 Labs Corp.
investors@item9labscorp.com
800-403-1140

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/item-9-labs-closes-out-2022-as-a-top-10-cannabis-brand-in-arizona-301720085.html

SOURCE Item 9 Labs

Item 9 Labs (INLB) – Going Into New Jersey

Posted on by cpereira@noblefcm.com


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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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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 (INLB) – A Management Change

Posted on by cpereira@noblefcm.com


Thursday, December 01, 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.

New CEO. Yesterday, Item 9 Labs announced Mike Weinberger, the Company’s Chief Franchise Officer, has assumed the CEO mantle, replacing Andrew Bowden. Given the upcoming transformational acquisition of Sessions Cannabis, we view the change in leadership as a positive for the Company.

Franchise Experience. As Item 9 Labs goes full bore in cannabis franchising, Mr. Weinberger’s long background in the franchising industry will become even more valuable, in our opinion. A 20-plus year franchise industry veteran, Mr. Weinberger launched Item 9 Labs Corp.’s dispensary franchise, Unity Rd., in 2018 and grew the brand to more than 20 entrepreneurial groups driving development across 10 states before the sale of Unity Rd. to Item 9 Labs. Mr. Weinberger also led 500 unit Maui Wowi, a global coffee and smoothie franchise.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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 (INLB) – Raising Additional Capital

Posted on by cpatches


Thursday, October 13, 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.

A Purchase Agreement. On Tuesday, Item 9 Labs announced a Purchase Agreement with ClearThink Capital Partners, LLC dated September 8, 2022 for ClearThink to purchase up to $25 million in a Equity Line of Credit. Alongside the agreement, the Company agreed to issue ClearThink 400,000 restricted shares of the Company’s Common Stock as a “Commitment Fee Shares.”

Other Agreements. The Purchase Agreement brought along two other agreements: a Registration Rights Agreement and a Securities Purchase Agreement. The Registration Rights Agreement lets Item 9 Labs file a registration statement with the SEC covering the common stock shares being issued under the Purchase Agreement and the Securities Purchase Agreement is the additional purchase of 266,666 shares of restricted common stock for a price of $200,000.


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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.