Item 9 Labs manufactures its own cannabis products and is also the parent company of Unity Rd., a U.S. cannabis franchise developing more than 30 stores across the U.S.
The acquisition is the “first step to much deeper market penetration, both in Ontario and other provinces,” he added. “The Canadian cannabis market has grown tremendously over the past few years, and we have certainly felt that impact and benefited from first-mover advantage in several markets,” Fry said in a statement.
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