PHOENIX, Oct. 7, 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 it has signed an Asset Purchase Agreement (“APA”) for an existing dispensary license and storefront in Adams County, CO.
This will be the first corporate-owned shop under its cannabis dispensary franchise brand, Unity Rd., and is anticipated to open within the next 4-6 months. Currently, the Company is awaiting regulatory approval by Colorado’s Marijuana Enforcement Division (“MED”).
This APA is part of an overarching acquisition strategy that is intended to accelerate national expansion by creating turnkey investment opportunities for Unity Rd. franchise partners. The Company plans to convert acquired dispensaries into Unity Rd. shops, operate them internally and sell them to an existing or future franchise partner. This offers an expedited solution for entrepreneurs seeking immediate entry into cannabis. The Company’s dispensary acquisition program spans the entire state of Colorado, initially seeking opportunities in Denver, front range and compelling mountain towns.
“Our eyes are set on Colorado and building up the Unity Rd. brand to become one of the main players in the market,” said the Company’s Chief Strategy Officer, Jeffrey Rassas. “We’re in multiple ongoing