Launches New Corporate & Consumer Websites, Reflecting Evolving Business Model and Focus on Creating Comfortable Cannabis Solutions
SCOTTSDALE, Ariz., June 21, 2018 (GLOBE NEWSWIRE) -- Item 9 Labs Corp. (OTC:INLB) (“Item 9 Labs” or the “Company”), a leading provider of comfortable cannabis health solutions for the modern consumer developing innovative products and proprietary delivery platforms, today announced the launch of the Company’s new corporate identity, logo and tagline. Complementing these efforts, Item 9 is launching a new corporate website (www.Item9labscorp.com) and a consumer website (www.Item9labs.com) to effectively connect with the Company’s extensive base of investors and customers.
Bryce Skalla, Co-Founder & CEO of Item 9 Labs, commented, “In the past few months, we have solidified a key niche within the medical cannabis industry by pairing cutting-edge technologies with high-grade medical marijuana. Our proprietary intra-nasal delivery system is a game-changer for the medical marijuana industry and speaks to our core mission to create comfortable cannabis solutions for today’s modern cannabis user. We are excited to share our unique and evolving position within the Cannabis Bio-Medical space with the launch of our new corporate identity that truly reflects our unique product offerings.”
The inclusion of the new tagline “Item 9 Labs creates comfortable cannabis health solutions for the modern consumer by developing innovative products and proprietary delivery platforms” and corporate rebranding is part of the Company’s strategy to introduce today’s most advanced cannabis delivery solutions to the Cannabis Bio-Medical market, expand its business by meeting the increasing needs of medical marijuana consumers, and create a foundation for new growth opportunities. The Company has already achieved several milestones in implementing this strategy, including the Company’s acquisition of BSSD Group, LLC, an Arizona limited liability company, doing business as Item 9 Labs. In conjunction with the acquisition, the Company closed on a material definitive financing agreement in the principal amount of approximately $1.1 million. Subsequent to this, the Company completed a corporate name change to Item 9 Labs Corp., with a corresponding ticker symbol change to ‘INLB.’ In May, the Company executed an intellectual property sales agreement with Health Defense, LLC, for a total purchase price of $1.3 million in cash. Most recently, the Company closed on an additional $0.4 million in financing for a total of $1.5 million private placement of its common stock.
About Item 9 Labs Corp.:
Item 9 Labs Corp. (OTC:INLB) creates comfortable cannabis health solutions for the modern consumer by developing innovative products and proprietary delivery platforms. The Company is focused on the development of technology and products that administer high-quality medical marijuana through a novel intra-nasal delivery system to deliver significant health benefits. The Company is headquartered in Southern Arizona where it owns and operates 50 acres, one of the largest properties in the U.S. zoned to grow and cultivate the medical marijuana flower. Item 9 has a proven track record of providing consumers with high-quality medical marijuana flower and products focused on organic, cost-effective solutions for whole body health. By combining high-quality, medical-grade product with the Company’s proprietary nasal mucus-membrane delivery system, Item 9 plans to produce the industry’s first market medicated nasal delivery device that administers specific cannabinoid dosing to meet the growing demand of today’s modern Cannabis consumer.
Forward-Looking Statement: 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.
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