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SCOTTSDALE, Ariz., Feb. 05, 2019 (GLOBE NEWSWIRE) -- Item 9 Labs Corp. (OTC: INLB) (Item 9 Labs or the Company), a leading developer and manufacturer of innovative cannabis products and proprietary delivery platforms, today announced it was ranked one of the fastest growing Arizona concentrate brands, according to industry data researcher BDS Analytics platform GreenEdgeTM Retail Tracking. The recently released data report showed Item 9 Labs increased concentrate sales by 234 percent in Q4 compared to Q1 of calendar year 2018.
“Our sales last year surpassed our pre-expansion goals and concentrates played a big part in that growth. Concentrates appeal to patients because they offer discreetness, portability, and consistency when dosing,” stated Item 9 Labs CEO Sara Gullickson. “In 2019, we plan to diversify our product lines further and develop other comfortable health solutions for the modern cannabis consumer.”
Concentrates are the fastest growing segment of the cannabis industry according to BDS Analytics, second only to dried flower with retail sales projected to hit USD $8 billion by 2022.
Item 9 Labs is currently adding a commercial kitchen for infusion processes to its Arizona cultivation and processing facility and increasing its blueprint by 10,000 square-feet. The Company is also expanding its proprietary THC and CBD-derived delivery systems, including its Intra-Nasal device and Apollo Vape Pen and Pod System.
An industry forerunner, Item 9 Labs 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 medical cannabis. The Company will be operating as licensed dispensaries, cultivation, and manufacturing facilities in a projected ten U.S. markets by the end of 2019.
For information visit Item9LabsCorp.com.
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 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. For more information, visit us online at www.Item9labscorp.com and www.Item9labs.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.
Item 9 Labs Corp.