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May 25, 2022, 8:17 a.m. EDT

U.S. cannabis company Item 9 Labs buys Canada's Sessions Cannabis

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By Steve Gelsi

Phoenix-based Item 9 Labs Corp. /zigman2/quotes/205967422/composite INLB -13.75% said Wednesday it'll pay an undisclosed sum to acquire Canada's Sessions Cannabis, which generates about C$70 million in annual sales with 43 stores in Ontario. Item 9 Labs Corp. CEO Andrew Bowden said the acquisition "fast-tracks our entry into the Canadian market." Shares of Item 9 Labs are down 9.9% in 2022, compared to a drop of 46% by the AdvisorShares Pure US Cannabis ETF /zigman2/quotes/220307682/composite MSOS -0.10% .

US : U.S.: OTC
$ 0.69
-0.11 -13.75%
Volume: 52,200
July 1, 2022 3:58p
P/E Ratio
Dividend Yield
Market Cap
$66.37 million
Rev. per Employee
US : U.S.: NYSE Arca
$ 10.34
-0.01 -0.10%
Volume: 465,498
July 1, 2022 4:00p

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