Item 9 Labs Corp. Breaks Ground on Cannabis Cultivation and Processing Facility Strive Wellness of Nevada
LAS VEGAS, April 08, 2019 (GLOBE NEWSWIRE) -- Item 9 Labs Corp. (OTC: INLB) (“Item 9 Labs” or the “Company”), a leading developer and manufacturer of innovative cannabis products and proprietary delivery platforms, today announced it has launched construction of Strive Wellness of Nevada, a medical cannabis cultivation and processing facility with distribution rights, in Pahrump, Nevada.
Item 9 Labs became an operating partner of Strive Wellness of Nevada in June 2018. The new cultivation and production space covers 20,000 square-feet, doubling the overall square-footage of Item 9 Labs’ existing aggregate facilities.
We are excited to kick off our Nevada expansion and bring our quality medicine to another patient base. Nevada is a large medical market that will more than double Item 9 Labs' overall revenue. Last year, the State of Nevada’s combined adult-use and medical cannabis sales reached $580 million and resulted in more than 7,500 industry jobs
stated Sara Gullickson, CEO of Item 9 Labs.
Strive Wellness of Nevada secured its Special Use Permit in December 2018 and required building permits in 2019. The facility will be producing legal medical cannabis products by Q4. Part of a two-phased construction project, Strive Wellness of Nevada will undergo additional expansion plans in 2020.
Item 9 Labs expects to be operating as licensed medical cannabis dispensaries, cultivation, and manufacturing facilities in ten U.S. markets by the end of 2019.
For information visit Item9LabsCorp.com.
Item 9 Labs Corp. (OTC: INLB) creates comfortable cannabis health solutions for the modern consumer. The Company is bringing best of industry practices to markets from coast to coast through cultivation and production, distinctive retail environments, licensing services, and diverse product suites catering to different medical cannabis demographics. Item 9 Labs Corp. is headquartered in Phoenix, Arizona, with medical cannabis operations in multiple U.S. markets.
Item 9 Labs Corp.’s asset portfolio includes Dispensary Permits, Dispensary Templates, and Strive Life. These assets provide services specific to different stakeholder groups. Dispensary Permits is the Company’s consulting firm specializing in strategic license application and compliance. Dispensary Templates, a subdivision of the firm, is a technology platform with an extensive digital library of licensing and business planning resources. Strive Life is a turnkey dispensary model for the retail sector, elevating the patient experience with consistent and superior service, high-end design, and precision-tested products. It is currently being implemented in Arizona and North Dakota.
In addition, Item 9 Labs Corp. is advancing the industry with its dynamic product suites. The Company has created complementary brands Item 9 Labs and Strive Wellness to channel consumer diversity. Propriety delivery platforms include the Apollo Vape and Pod system, as well as a pioneering intra-nasal device. The Company has received multiple accolades for its medical-grade flower and concentrates.
Item 9 Labs Corp. will be managing cultivation, processing, distribution, and dispensary operations in up to ten U.S. markets by the end of 2019. Current facilities include distribution and processing operations Strive Wellness of Ohio and Strive Wellness of Nevada, as well as dispensary Strive Life North Dakota.
For more information, visit Item 9 Labs Corp. at www.Item9labscorp.com.
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.