Item 9 Labs Corp. Signs Definitive Agreement to Acquire Sessions Cannabis, One of Canada’s Largest Cannabis Retail Franchisors
PHOENIX — Item 9 Labs Corp. (OTCQX: INLB) (the “Company”) — a vertically integrated cannabis dispensary franchisor and operator that produces premium, award-winning products — announced today that it has signed a definitive agreement to acquire Sessions Cannabis (“Sessions”), one of Canada’s largest cannabis retail franchisors. “This is a transformative acquisition that fast-tracks our entry into the Canadian market and brings tremendous value to our shareholders,” said Item 9 Labs Corp. CEO Andrew Bowden. “With an exponential increase in store count across North America, this acquisition would transition us from being a multi-state operator to an international cannabis company and the largest global cannabis franchisor. The potential to accelerate growth through both franchising and additional opportunistic acquisitions is immense. This is simply the first step to much deeper market penetration, both in Ontario and other provinces.” Founded in 2019, Sessions currently has...