One of the longest-operating cannabis consulting firms in Arizona, Dispensary Permits, has been acquired by publicly traded corporation Item 9 Labs for $1.5 million and 3 million shares of stock.
Here are the basics of the deal:
- Item 9 Labs (OTC: INLB) said in a news release the agreement includes ownership of websites dispensarypermits.com and dispensarytemplates.com, along with all the intellectual property held by Scottsdale-based Dispensary Permits and its owner, Sara Gullickson.
- Item 9, based in Phoenix, already owns and operates a 50-acre medical marijuana cultivation site.
- Gullickson founded Dispensary Permits in 2010 and since then has helped clients win plant-touching business licenses in more than 12 states.
Gullickson has also been tapped by Item 9 to be the company’s new CEO for at least the next three years – subject to an employment agreement.
Item 9 CEO Bryce Skalla will transition into the firm’s presidency. Gullickson also was appointed to Item 9’s board of directors.