Significant Colorado Expansion Propels Unity Rd. Into Next Phase of Statewide Growth
- Cannabis Dispensary Franchise Secures Dispensary License for New Shop Near Cherry Creek Neighborhood of Denver
- Unity Rd. Brand Hits Momentous Stride With M&A Activity Ramping Up in Colorado Market
DENVER, July 12, 2022 /PRNewswire/ -- Unity Rd., the first true national cannabis dispensary franchise in the U.S. from Item 9 Labs Corp. (OTCQX: INLB), is experiencing rapid growth across Colorado with four shops now open or in various stages of development.
The Unity Rd. brand first entered the Colorado market in June 2021 with Unity Rd.'s first franchise partners, Nate and Bruce Wetzel. Next up for the fast-growing cannabis franchise is a corporate shop located at 6101 N. Washington St. in Denver. The North Denver Unity Rd. will be opening this week with a grand opening slated for later this Summer.
"Our goal in Colorado and the greater Denver area is to make Unity Rd. the market's go-to local neighborhood cannabis shop," said Andrew Bowden, chief executive officer of Item 9 Labs Corp.
The cannabis dispensary franchise recently helped its local partner secure license approval for a dispensary near the Cherry Creek neighborhood of Denver. The future Unity Rd. shop is in an influential commercial and residential district that famously was one of the greatest landmarks for entertainment and nightlife, surrounded by shopping centers, historic beauty such as Four Mile Historic Park and Denver's greenery all around. Unity Rd. is currently awaiting local approval on the license and has build-out plans in place for the retail storefront. It anticipates the location to be fully operational by the end of 2022.
Additionally, Unity Rd.'s parent company signed an Asset Purchase Agreement (the "APA") in March 2022 to acquire The Herbal Cure, a medicinal and recreational dispensary and cultivator operating in Washington Park. The shop will be rebranded to Unity Rd. within six months of closing the acquisition and eventually become the brand's flagship location.
As one of the most mature cannabis markets in the U.S., Colorado has been setting records in sales year-over-year since the launch of its adult-use program in January 2014. Since then, Colorado's adult-use cannabis market has generated $12.2 billion in sales, according to the state's Department of Revenue. In 2021, Colorado saw one of its highest annual revenue numbers with $2.2 billion generated across both the medical and adult-use markets. It is a prime example of the cannabis industry's future potential.
"Our goal is to keep dispensary ownership in the hands of local entrepreneurs," said Unity Rd.'s Chief Franchise Officer Mike Weinberger. "In saturated markets, like Denver, where multi-state operators are beginning to dominate the space, the Unity Rd. franchise opportunity offers existing and prospective cannabis entrepreneurs a viable route to compete. With our proven guidebook, ongoing support and the benefits that come from being part of a larger franchise network, local dispensary entrepreneurs can thrive."
Unity Rd.'s explosive growth in Colorado further solidifies its position as an industry leader focused on independent entrepreneurs. In the Centennial state, the brand is focusing its expansion efforts on acquisition opportunities for Unity Rd. franchise partners in Denver as well front range and compelling mountain towns.
Industry newcomers have deemed Unity Rd. the go-to franchise opportunity for entering and navigating the complex $25 billion cannabis industry. The marijuana dispensary franchise is actively seeking qualified partners across the U.S. who would benefit from the systems, processes, and ongoing support the franchise offers.
For more information about the Unity Rd. franchise opportunity, contact [email protected], call 720-923-5262 or visit unityrd.com. For potential merger and acquisition opportunities, contact Mark Busch at [email protected].
Unity Rd. is bridging the two previously disconnected worlds of cannabis and franchising. The industry trailblazer is the first to bring the cannabis dispensary franchise model to the United States—with duality of prowess in both industries to back it up. Built up from a collective 200 years in the legal cannabis industry and franchising, the company helps eager operators enter the complex industry with ease. The marijuana franchise pioneer offers its partners the knowledge, resources and ongoing support needed to compliantly and successfully operate a dispensary. Launched in 2018, Unity Rd. has signed multiple agreements with 20 entrepreneurial groups across the country who are developing the brand across 10-plus states. In 2021, Unity Rd. became the first member of its kind to join the International Franchise Association (IFA), solidifying its position as the first true cannabis dispensary franchise in the U.S. The franchise was also named one of the "Best Cannabis Companies to Work For" in the dispensary category for Cannabis Business Times' 2022 and 2020 lists. For more information, visit unityrd.com.
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 by 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 https://investors.item9labscorp.com/.
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:
Marisa Beaumont
Fishman PR
[email protected]
847-945-1300
Investor Contact:
Item 9 Labs Corp.
[email protected]
800-403-1140
SOURCE Unity Rd.
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