Inner Spirit Holdings Announces Five New Spiritleaf Cannabis Stores Set to Open in Ontario
June 8, 2020
Company also has seven additional locations preparing to receive licences and begin operations as Spiritleaf’s national expansion program continues
CALGARY, Alberta (June 8, 2020) – Inner Spirit Holdings Ltd. (“Inner Spirit” or the “Company”) (CSE:ISH), a Canadian company that has established a national network of Spiritleaf retail cannabis stores, today announced that five franchise partners have secured Retail Store Authorizations (“RSAs”) for Spiritleaf cannabis stores located in Toronto, Ottawa and Guelph, Ontario. The RSAs were granted by the Alcohol and Gaming Commission of Ontario (“AGCO”) as part of the regulator’s plan to increase the number of legal cannabis retail stores in the province. The Company also noted there are seven additional Spiritleaf stores which have completed construction and are in the final stages of licensing in Calgary and Red Deer, Alberta; in Toronto, Ottawa and London, Ontario; and in St. John’s, Newfoundland and Labrador.
“We are very excited to continue our expansion of the Spiritleaf brand across the country and set deeper roots into Ontario. We were there for Ontario on April 1, 2019 when through a licensing agreement with one of the initial lottery winners we opened the first private recreational cannabis store in Kingston. We have a regional Spiritleaf office in Toronto, a strong support team in place, and a great group of talented entrepreneurs ready to open their doors to their local communities throughout the province,” said Darren Bondar, President and CEO of Inner Spirit.
The new Ontario stores are expected to open later this month at the following locations. Please visit www.spiritleaf.ca for information on opening dates and store operating hours.
- Bloor West Village, Toronto
- College Street (Little Italy), Toronto
- Lawrence Avenue (Don Mills), Toronto
- Wellington West Village, Ottawa
- Edinburgh Market Place, Guelph
Dave Marino, the Company’s Ontario General Manager and a Spiritleaf franchise owner, added, “The majority of our planned locations in Ontario will be franchise owned which aligns with our business model. We will support this core group of stores with a select number of corporate-owned outlets including the anticipated acquisition of the Kingston store this month and a flagship corporate store in Ottawa that is currently in the AGCO licensing queue. Overall, we believe the benefits of local entrepreneur ownership line up perfectly with the policy objectives of the Ontario government in crafting their retail cannabis laws, namely, to support small business.”
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