ITEM 9 LABS CORP - INLB STOCK NEWS

Unity Rd., a franchise of cannabis dispensaries, announced new agreements in New Jersey and Virginia, while continuing to expand in the Northeast region. The brand aims to assist entrepreneurs entering the cannabis industry through its Local Alliance Program, which partners with existing dispensary owners. Dish Patel and Laurin Wallace will lead new shops in New Jersey and Virginia, respectively. Additionally, Unity Rd. is supporting a group in Maine to secure a dispensary license as the state’s market thrives. The franchise seeks qualified partners to leverage its supportive infrastructure.

Item 9 Labs Corp. (OTCQX: INLB) has announced the expansion of its cannabis dispensary franchise, Unity Rd., into New Jersey and Virginia. The company has signed agreements with experienced entrepreneurs in both states to develop the brand further. Unity Rd. is actively engaging in expansion across the Northeastern United States and has supported franchises in Maine, which recently saw $10 million in monthly sales. With a unique franchise model, Unity Rd. minimizes corporate capital requirements, allowing for efficient growth and operational support for its partners.

Item 9 Labs Corp. (OTCQX: INLB) has secured a $19 million construction-financing loan from Pelorus Equity Group to enhance its cultivation and lab sites in Arizona and Nevada. The funds will facilitate the expansion of the Arizona Facility, adding over 640,000 sq. ft. of operational space, and complete the 20,000 sq. ft. facility in Pahrump, set to open in early 2022. This non-dilutive financing will boost production by 30-35% and reduce reliance on third-party material by 40-50%. The company anticipates hiring 60-70 new employees as it expands.

Item 9 Labs Corp. (OTCQX: INLB) recently achieved two podium finishes at Arizona's inaugural High Times Cannabis Cup, winning first place for its Black and Blue Kush Broad Spectrum Cartridge and third place for its Do-Si-Do pre-rolls. This recognition underscores Item 9 Labs' commitment to producing premium cannabis products. The brand has experienced a 203% year-over-year revenue increase in the third quarter, benefiting from a thriving Arizona cannabis market projected to surpass $1 billion in sales this year. The company's continued award-winning performance highlights its strong cultivation and lab capabilities.

Item 9 Labs Corp. (OTCQX: INLB) reported third-quarter financial results for FY2021, achieving record revenues of $6.7 million, a 203% increase year-over-year. Gross profit surged by 184% to $2.9 million, although gross margin slightly declined to 43%. The net loss improved to $0.8 million from $1.6 million in the previous year. Sequential revenue grew by 10%. The company opened its first Unity Rd. franchise in Boulder, Colorado, and signed various franchise agreements in New Jersey, Michigan, and Ohio, positioning itself for significant growth as the Arizona cannabis market expands.

Item 9 Labs Corp. (OTCQX: INLB) announced its participation in the Sidoti & Company August Microcap Investor Conference on August 18-19, 2021. CEO Andrew Bowden will present an overview of the company's award-winning cannabis products and its dispensary franchise brand, Unity Rd. The company has recently appointed new senior executives to aid in the national expansion of Unity Rd. and opened its first franchise shop in Boulder, Colorado. Attendees will have opportunities for one-on-one meetings, and the presentation will be available for live streaming.

Item 9 Labs Corp. (OTCQX: INLB), a cannabis dispensary franchisor, will host a conference call on August 17, 2021, to discuss its financial results for the third quarter of fiscal year 2021, which ended on June 30, 2021. The company's 10Q filing is scheduled for release after market close on August 16, 2021. CEO Andrew Bowden and CFO Bobby Mikkelsen will present alongside the management team. Interested parties can join the call via phone or webcast, with a replay available until August 31, 2021.

Item 9 Labs Corp. (OTCQX: INLB) announced key management hires to boost its national franchise expansion strategy following the opening of its first franchise dispensary in Boulder, Colorado. New team members include Tracy Timko as Director of Franchise Support, Erica Tarnowski as Franchise Development Manager, Mike Keskey II as General Counsel, and Shabrina Glass as Executive Assistant. The company is also seeking additional managerial roles to enhance operations as it aims to expand its Unity Rd. brand across the U.S., leveraging its successful franchise model and large-scale cultivation capabilities.

Item 9 Labs Corp. (OTCQX: INLB) will participate in the Access to Giving Virtual Investor Conference from July 13-15, 2021. The Chief Strategy Officer, Jeffrey Rassas, will present on July 14 at 3:00 PM ET, focusing on the company's award-winning cannabis products, financial results, and master cultivation site expansion. With the U.S. cannabis market projected to grow to $41 billion by 2025, Item 9 Labs aims to leverage its unique franchise model for expansion. The event promotes investor education and raises funds for financial literacy causes.