Vertically Integrated Cannabis Operator Seeks to Bolster its Infrastructure for Future Growth
PHOENIX, AZ / ACCESSWIRE / May 28, 2020 / Item 9 Labs Corp. (OTC PINK:INLB) ("Item 9 Labs" or the "Company"), a vertically integrated multi-state cannabis operator producing award-winning cannabis products, announced today that it expects to increase operating staff this year in order to meet rising product demand. These new hires will be across multiple areas of the Company.
Item 9 Labs reported in its second quarter results a 65% year-over-year increase in revenue compared to the second quarter of 2019. As demand continues amidst the national pandemic, the Company is identifying employment opportunities that support long-term growth and meet the ever-growing needs of its patients.
"Seeing so many in our community face hardship and uncertainty strikes a nerve," said Bryce Skalla, Item 9 Labs president. "We're seeking ways to support their overall wellness beyond our products, starting with employment opportunities that provide financial stability for local families."
Over the past two months, many cannabis businesses were able to re-assign their field employees to cultivation departments - both to keep jobs and help with increased orders during the COVID-19 lockdowns. Item 9 Labs CEO Andrew Bowden said, "Rather than shift team members around, we were able to create new job openings and expand our marketing efforts."
The nimble Item 9 Labs team quickly transitioned from in-person to digital-based marketing campaigns, including a 13+ hour Twitch.TV event that featured 18+ performance sets with more than 3,000 views worldwide - a cannabis industry first for Twitch.TV. The popular streaming service typically caters to video gamers and those that watch them compete. This opens up entirely new partnership opportunities for Item 9 Labs, including yoga practitioners, musicians, wellness coaches, food purveyors, and future mainstream sponsorships, among others.
The Company also launched its "Why Cannabis?" campaign this month on LinkedIn to showcase team members driving the brand and their ultimate decision to join the industry. The video series takes a deep personal look into employees' motivating factors, including personal stories of overcoming disease & illnesses and helping friends and family do the same.
In the past year, Item 9 Labs added more than two dozen people to its roster, nearly doubling the existing team with additions to cultivation, marketing, sales, and corporate leadership. A few key hires include Director of Education and Training Fay Powell, bringing six years in the legal cannabis industry to the team, and VP of Marketing Kyle Jennings, whose background includes marketing management positions with Red Bull North America, 5-Hour Energy, KIND Bars, and Sunday Goods & The Pharm, among others.
"I was apprehensive at first to make the jump from traditional consumer product goods into the cannabis space, but after meeting the team and seeing the culture and vision of the brand, I knew it was the right career move," Jennings said. "The team welcomed new, outside-the-box ideas with open arms and, together, we've moved the brand into an exciting direction."
The recent personnel growth primed the Company for increased expansion and brand positioning. By looking beyond typical cannabis marketing channels, Item 9 Labs has fully transitioned from a more traditional medical marijuana business into a true wellness-focused company. This more comprehensive approach better serves patients and the cannabis industry, in general.
About Item 9 Labs Corp:
Item 9 Labs Corp. (OTC PINK:INLB) is a vertically integrated multi-state cannabis operator headquartered in Arizona. The Company creates best-in-class products and canna-business solutions designed to help people become the best versions of themselves. With an award-winning CPG brand and nationally recognized application team, Item 9 Labs improves the cannabis experience while providing transparency, consistency, and well-being for those relying on them. For additional information, please visit: 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.
Item 9 Labs
Kyle Jennings, VP of Marketing
Phone: (518) 265-9217
Email: [email protected]
Brett Mass, Managing Partner
Phone: (646) 536-7331
Email: [email protected]
SOURCE: Item 9 Labs Corp.