SCOTTSDALE, Arizona, November 30, 2017 /PRNewswire/ —
Airware Labs Corporation (OTC: AIRW) today announced entering into a non-binding letter of intent (“LOI”) to acquire BSSD Group, LLC doing business as Item 9 Labs and other transactions related to the acquisition. Terms of the LOI call for the companies to use their best efforts to negotiate the final terms, and enter into a Definitive Agreement no later than December 31, 2017 or if not, either party can terminate the LOI. The terms of the Definitive Agreement, if one is executed, will specifically set forth the scope and details of the proposed acquisition of BSSD Group, LLC and other contemplated transactions related thereto. No assurances can be made that the companies will in fact enter into a Definitive Agreement.
“Item 9 Labs intends to utilize the patented intellectual property of Airware Labs Corp to develop an intra-nasal THC delivery system effectively eliminating a long standing pain point in the market. By combining Airware’s technology and our industry experience, Item 9 will be able to improve the quality of life for patients and their loved ones,” said Bryce Skalla, Co-Founder & CEO of Item 9 Labs. Skalla added, “Item 9 Labs has made a passion out of providing innovative medicinal alternatives for chronic and terminally ill patients, through the cultivation and manufacturing of high quality medical cannabis products. We are very excited to announce the next phase of our evolution, the union of Item 9 Labs and Airware Labs Corp. Item 9 Labs has long recognized the barrier with MMJ products as being the lack of options for delivery methods.”
“Airware Labs has been actively seeking a strategic partner in the Medical CBD and THC space to use our patented IP as a nasal delivery device allowing efficient and effective immediate delivery of Cannabinoids into the body. Item 9 Labs is the perfect partner with an experienced team, we are excited to combine our companies. Airware’s current product lineup provides air filtration and nasal dilation to promote improved breathing in support of overall health,” said Jeffrey Rassas, CEO of Airware Labs Corp.
About Item 9 Labs:
Item 9 Labs is an Arizona-based cannabis consulting company with a proven record of high quality medical marijuana flower and products focused on organic cost-effective solutions for whole body health. Item 9 Labs owns and operates 50 acres in Southern Arizona, the largest property