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Item 9 Labs (INLB) – A Management Change

Health
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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 CEOYesterday, 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.


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