Movers and SHAKERS
Item 9 Labs (INLB)
Unity Rd. Expanding into New Mexico
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.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
New Mexico Entry. Yesterday, Item 9 Labs announced entry into the New Mexico market with the signing of an agreement that will bring three dispensaries to New Mexico. Unity Rd. recently helped the entrepreneurial group secure state approval for dispensary licenses of all three shops and will be assisting the team in moving forward with development. The group currently have confirmed local city approval in Ruidoso and are awaiting approval from two additional cities for development.
New Mexico Market. A medical cannabis market, the state has approved adult use recreational to begin no later than April 2022. The medical market is about $200 million, with adult use projected to add another $425 million within four years. Notably, there are only 35 vertically integrated businesses licensed in the state, operating about 125 dispensaries ...
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