Item 9 Labs' Best-Selling Live Resin Pod System Set to Accelerate and Redefine Cannabis Experience

Rhea-AI Summary

Item 9 Labs Corp. (OTCQX: INLB) concluded a successful first year for its Orion 710 Live Resin Pod and Battery System, launched in February 2021. The vape system offers full-spectrum flower experiences and has quickly gained popularity, selling over 54,000 units in Arizona. With the introduction of a half-gram pod in December 2021, demand has surged, with nearly 22,500 units sold in early 2022. The Orion 710 system secured top placements at multiple cannabis competitions, reinforcing its market position.

Positive

• Orion 710 sold over 54,000 units in 2021.
• Introduced half-gram pods, selling 550 units in first month.
• Top three preferred cannabis vape brands in Arizona.
• Significant consumer demand expected to accelerate.

Negative

• None.

PHOENIX, Feb. 24, 2022 /PRNewswire/ -- Item 9 Labs, the award-winning, elevated mainstream cannabis product brand from Item 9 Labs Corp. (OTCQX: INLB), closes out a banner first year of its proprietary vape technology, Orion 710 Live Resin Pod and Battery System, with an optimistic outlook. The revolutionary Orion 710 was introduced in February 2021 and has quickly proven to be a favorite among consumers and dispensaries alike.

The Orion 710 Live Resin Pod and Battery System is a next-generation vape system that provides full-spectrum flower experiences on the go. It features strain-specific live resin extracted from fresh-frozen flower for incredible taste and enhanced effects, complemented by an innovative vaporizing device that offers a satisfying draw, magnetic interchangeable pods, and accurate dosing with its USB-C rechargeable battery.

"The Orion 710 is designed to meet the needs of the modern-day consumer and offer them a powerful, yet enhanced experience, similar to your favorite flower in aroma, taste, and effects," said Item 9 Lab's Director of Education, Veronica Paz Booth. "Our team believes this product will pave the way for the future of the cannabis industry."

Since Arizona legalized adult-use marijuana last January, the market generated $1.9 billion in sales and drew an unbelievable consumer demand that is expected to continue strengthening. Item 9 Labs sold more than 54,000 units of its 1-gram (1,000 mg) Orion 710 pods in 2021 to 70-plus dispensaries throughout Arizona. With this initial success, the Company introduced the vape technology with a half-gram (500 mg) pod in December 2021. Within the first month, the product sold 550 units and began being the buzz amongst local consumers. Already in 2022, Item 9 Labs has sold nearly 22,500 units to local dispensaries with the half-gram pods already outselling its counterpart.

"Item 9 Labs closed the 2021 calendar year as one of the top three preferred brands for cannabis vape products in Arizona this year," said Item 9 Labs' Chief Executive Officer, Andrew Bowden, noting the source is BDS Analytics. "We are experiencing incredible momentum with our products in the market, and we anticipate it will only continue to accelerate with the recent launch of our half-gram pods for the Orion 710."

The Company's Director of Sales, Andrew DeNapoli, agreed, "2022 is poised to be the year of the Orion 710 and it's going to be our new half-gram pods taking the spotlight. Dispensary teams and buyers alike frequently share glowing feedback about our Orion 710 series, but it is the half gram pods that really excite them. The price point is more favorable for consumers and the proof can already be seen in our numbers."

Along with rising demand and high praise from consumers, the Orion 710 Live Resin Pod and Battery System earned multiple top placements in Arizona's largest and longest-running annual cannabis festivals and awards events. At the 2021 710 Degree Cup, Orion 710 Live Resin pods earned 1st place in the "Best Vape - Hybrid" category with MAC Lemon, 2nd place in the "Best Vape - Indica" category with Blueberry and 3rd place in the "Best Vape - Sativa" category with Mimosa. Also, at the 2021 ERRL Cup, the Orion 710 took top placement in the "Vape Pen Sativa" category with its MAC Lemon pod.

For more information on Item 9 Labs, its Orion 710 Live Resin Pod and Battery System, and the brand's wide range of premium cannabis products, visit item9labs.com. To find trusted products at a dispensary near you, visit item9labs.com/locations/.

About Item 9 Labs 
Item 9 Labs cultivates the highest quality cannabis products while providing transparency, consistency and well-being for an enhanced cannabis experience. With more than 20 podium finishes in Arizona marijuana competitions, Item 9 Labs is a trusted source for premium cannabis products. Starting with intentionally grown flower, the Item 9 Labs product catalogue spans 100-plus products across five core categories, including several active cannabis strains, cannabis vape products, premium concentrates and Orion vape technology. Currently, Item 9 Labs is available at more than 50% of Arizona's dispensaries. For additional information, visit item9labs.com.

About Item 9 Labs Corp. 
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 up to 640,000+ 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.

Forward-Looking Statements
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.

Media Contact:
Lisa Sass
Serendipit Consulting 
lsass@serendipitconsulting.com 
909-519-9171

Investor Contact:
Item 9 Labs Corp.
investors@item9labs.com 
800-403-1140

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SOURCE Item 9 Labs

FAQ

What were the sales figures for Item 9 Labs' Orion 710 system in 2021?

Item 9 Labs sold over 54,000 units of its Orion 710 pods in 2021.

How many units of the new half-gram pods of Orion 710 have been sold?

In early 2022, nearly 22,500 units of the half-gram pods have been sold.

What achievements did the Orion 710 system accomplish in cannabis competitions?

The Orion 710 system earned multiple top placements, including 1st place in the 'Best Vape - Hybrid' category.

What is the market outlook for Item 9 Labs after the release of the Orion 710?

The company anticipates continued strong momentum and consumer demand for its products in 2022.