November 21, 2024 1:11 pm
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Phoenix cannabis firm plans to expand Pinal County cultivation facility

By Angela Gonzales | Phoenix Business Journal

Phoenix-based Item 9 Labs Corp. has secured $19 million in financing with plans to expand its marijuana cultivation facility by more than 3,000% in Arizona.

The publicly traded company will use $13.5 million to buy 45 acres next to its existing 19,200-square-foot cultivation facility that sits on five acres in Coolidge, south of Phoenix in Pinal County.

The master site development consists of six additional steel buildings that are just under 10,000 square feet each, said Andrew Bowden, CEO of Item 9 Labs (OTC: INLB).

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.