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Unity Rd. Awarded Full License Approval for New Denver Dispensary
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Positive)
Tags
Rhea-AI Summary
Item 9 Labs Corp. announced the opening of a new Unity Rd. dispensary in the Glendale neighborhood of Denver, Colorado, marking its third location in the state. This new store will also serve as a flagship training center for franchisees. Construction has already commenced, with an expected opening this summer. The company’s social equity partner, Josh Davis, has secured the necessary licensing. Colorado's cannabis market is highly competitive, generating over $12.2 billion in adult-use sales since 2014, with Denver at its center. Unity Rd. aims to provide essential support and guidance to new dispensary operators.
Positive
Expansion of the retail footprint with a new store in Glendale, increasing presence in Colorado to three locations.
Establishment of a flagship franchisee training center to support new dispensary owners.
Positive market conditions in Colorado, which has generated over $12.2 billion in adult-use cannabis sales.
Negative
None.
Glendale neighborhood dispensary will bring Item 9 Labs Corp.’s dispensary franchise footprint to three stores in Colorado this summer
DENVER--(BUSINESS WIRE)--
Unity Rd., the national cannabis dispensary franchise from Item 9 Labs Corp. (the “Company”) (OTCQX: INLB), announced today that it is expanding its retail footprint with a new shop near the Glendale neighborhood of Denver. Located at 3915 E. Exposition Avenue, this will be the third location the brand will introduce in Colorado and a flagship franchisee training center.
The Company aided its social equity partner, Josh Davis, in securing full state and local license approval for the Unity Rd. dispensary, located in a popular commercial and residential district. Construction has begun on the new store, and it is expected to open this summer.
“For social equity dispensary owners, a missing piece in their road to success is ongoing guidance and support from a dedicated team of experts,” said Unity Rd. CEO Mike Weinberger. “The franchise model is a key vehicle that empowers them to confidently and compliantly operate dispensaries in their local communities.”
Unity Rd. currently has two shops open in Colorado – one with its franchisees Nate and Bruce Wetzel in Boulder, Colo. which opened in June 2021, and another in North Denver, that opened in July 2022. Colorado is one of the most mature cannabis markets in the U.S. and has been setting records in sales year-over-year from the launch of its adult-use program in January 2014, with Denver at the epicenter of all the positive momentum. According to the state's Department of Revenue, it has since generated over $12.2 billion in adult-use sales.
Weinberger continued, “With Colorado, and specifically Denver, being a highly competitive cannabis market, Unity Rd. offers a proven guidebook, ongoing support and the expert resources needed for industry newcomers and existing dispensary operators alike to navigate regulatory hurdles and thrive in the space.”
Cannabis is a highly regulated industry with laws that differ from state-to-state and change day by day. These market conditions make it next to impossible for industry newcomers to enter – let alone operate a successful business. Unity Rd. breaks down these barriers, helping independent business owners bring the benefits of the growing industry to their hometown to strengthen their communities, invest in local programs and build a legacy.
To learn more about the Unity Rd. franchise opportunity, contact franchise@unityrd.com, call 720-923-5262 or visit unityrd.com. For more information about Item 9 Labs Corp. and its brands, visit item9labscorp.com.
ABOUT UNITY RD.:
Unity Rd. is the first national cannabis dispensary franchise model in the U.S. Since launching in 2018, Unity Rd. has always had one mission and vision in mind for the cannabis industry: to inspire confidence in the benefits of cannabis for all. From consumers to entire communities and investors, Unity Rd. was founded on the belief that everyone has a place in the budding $28 billion industry. The result is high-quality cannabis products guests can rely on that are sold in shops run by local entrepreneurs who are backed by Unity Rd.’s collective 200 years of legal cannabis and franchising experience. An industry pioneer, Unity Rd. is the retail franchise from Item 9 Labs Corp. (OTCQX: INLB). The franchise has been named one of the top cannabis retail leaders in the nation by MJBizDaily, became the first concept of its kind to become a member of the International Franchise Association (IFA) and was named one of the “Best Cannabis Companies to Work For” in the dispensary category of Cannabis Business Times’ 2023, 2022 and 2020 lists. Unity Rd. currently has four shops open and multiple agreements signed with 20-plus entrepreneurial groups who are developing the brand across 10-plus states. For more information, visit unityrd.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-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 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.
What is the significance of the new Unity Rd. dispensary for Item 9 Labs Corp. (INLB)?
The new Unity Rd. dispensary in Glendale increases Item 9 Labs Corp.'s retail footprint in Colorado to three locations, supporting its growth strategy in a competitive market.
When is the new dispensary by Item 9 Labs Corp. expected to open?
The new dispensary is expected to open this summer.
How many dispensaries does Item 9 Labs Corp. currently have in Colorado?
Item 9 Labs Corp. currently has two open dispensaries in Colorado, with the new Glendale location being its third.
What role does the new dispensary serve for franchisees?
The new dispensary will serve as a flagship training center for Unity Rd. franchisees, offering essential guidance and support.
How has the cannabis market performed in Colorado according to Item 9 Labs Corp. press release?
Colorado has generated over $12.2 billion in adult-use cannabis sales since January 2014, indicating a mature and successful market.
