Item 9 Labs Corp. Retains Sharp Capital Advisors to Facilitate a Sale of the Business
PHOENIX, Dec. 19, 2023 /PRNewswire/ -- Item 9 Labs Corp. (OTCPK: INLB) ("INLB" or the "Company"), a vertically integrated cannabis operator and dispensary franchisor that produces high-grade, award-winning products has retained Sharp Capital Advisors LLC ("Sharp") to assist in the exploration of a sale of the Company. The Company consists of two core operating businesses, Item 9 Labs and Unity Rd.
Item 9 Labs consists of a highly efficient cultivation operation in a 20,000 ft2 facility on 49 acres in Coolidge, AZ. This facility generates award-winning flower, used to fuel its own branded products, generating ~$20 million in sales over the trailing twelve month period.
Unity Rd. is the first national cannabis dispensary franchisor and a member of the International Franchise Association (IFA). With three active franchises (New Jersey, Colorado, and South Dakota) and a robust pipeline of additional franchisee opportunities, the Unity Rd. business is a capital efficient and asset-light model to distribute consistent quality brands in multiple states.
INLB owns an additional asset in Pahrump, Nevada, consisting of a partially completed 20,000 ft2 facility on 4.6 acres of land with two associated licenses.
Resolute Commercial Services, LLC was appointed as the receiver for INLB in July, 2023 by the Superior Court of Arizona in the County of Maricopa.
For additional information, please contact:
Colin Campbell, Managing Director, Sharp Capital Advisors LLC
About Item 9 Labs Corp
Item 9 Labs Corp. operates as a vertically integrated cannabis operator and dispensary franchisor in the United States. The company produces cannabis and cannabis-related products in various categories, such as flower; concentrates; distillates; and hardware. It offers cannabis and cannabis-derived products and technologies through licensed dispensaries to consumers in Arizona. It also operates and sells medical and adult-use cannabis dispensary franchises under the Unity Rd brand name. Item 9 Labs Corp. is headquartered in Phoenix, Arizona.
About Sharp Capital Advisors LLC
Sharp Capital Advisors LLC is a boutique investment banking firm delivering capital markets and M&A advisory services to the U.S. legal cannabis industry. Sharp Capital Advisors LLC was founded in 2020 and has offices in W. Palm Beach, FL, Chicago, IL and Newport Beach, CA.
About Resolute Commercial Services, LLC
Resolute Commercial Services, LLC offers financial advisory services that focus on diagnosing and resolving the financial and operations issues impacting middle market companies. It provides services, which include business advisory, fiduciary services, financial advisory, real estate, and corporate trusts. It serves businesses, financial institutions, law firms, and state and federal courts. The company was founded in 2008 and is based in Scottsdale, Arizona.