INLB - Item 9 Labs (INLB) - A Move Into Canada

Expansion into Canada. Last week, Item 9 Labs announced it has signed a definitive agreement to acquire Sessions Cannabis, one of Canada's largest cannabis retail franchisors. We believe this to be a transformative event for Item 9 Labs, with an exponential increase in store count across North America, This acquisition transitions the Company from being a multi-state operator to an international cannabis company and the largest global cannabis franchisor.Who Is Sessions? Founded in 2019, Sessions currently has 43 stores throughout the Province of Ontario, the majority of which are located in prime retail shopping centers, typically anchored by national tenants such as Costco, Walmart, well-known grocers, quick service restaurants, and more. The Ontario-based business has a franchise system comprised of 18 franchisees, the majority of which are multi-unit owners. ARPU is about CA$2.5 million. Read More >>