Unity Rd, the national cannabis dispensary franchise from Item 9 Labs Corp. INLB announced the signing of an agreement that will bring a new cannabis establishment to Vermont and further expand the brand’s presence in the Northeast. Unity Rd. has partnered with a local entrepreneur, who will be its first shop owner in the Green Mountain State.
It's important to note that adult-use cannabis shops in Vermont sold $2.6 million in October, according to data shared by the state tax department.
"The market is currently projected to generate at least $3 to $5 million by the end of 2023 and $120 to $145 million by 2026, as stated in the 2022 MJBiz Factbook," per a press release.
The Agreement
Unity Rd. partnered with a local entrepreneur, who will be its first shop owner in the state.
“Breaking into an emerging market that is growing at an exponential rate with an entrepreneur who witnesses the true value behind cannabis speaks volumes to our mission,” said Unity Rd.’s CEO, Mike Weinberger.
Item 9’s cannabis dispensary franchise, which helps independent business owners bring the benefits of the growing industry to their hometowns to strengthen their communities, invest in local programs, and build a legacy, is also seeking qualified partners on the East coast including Maine, Maryland and Virginia.
In related news, Item 9 Labs Corp. has recently secured the necessary financing to complete the previously announced acquisition of Sessions Cannabis, which currently generates more than CA$80 million in annual systemwide sales with over 45 locations open throughout Ontario.
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