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Inner Spirit Holdings Announces Corporate Spiritleaf Retail Cannabis Stores in Edmonton and Calgary and Exercise of Over-Allotment Option Resulting in a Public Offering for Gross Proceeds of $10 Million

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Inner Spirit Holdings Ltd. (“Inner Spirit” or the “Company“) (CSE:ISH), a Canadian company establishing a national network of retail cannabis stores under its Spiritleaf brand, is pleased to announce that it has received a retail cannabis store licence from Alberta Gaming, Liquor and Cannabis (the “AGLC“) for a wholly-owned corporate retail cannabis store in Edmonton’s celebrated arts and cultural community of Old Strathcona, located on Whyte Avenue. This follows last week’s announcement that the Company received its first retail cannabis store licence for a corporate location in Calgary’s downtown Beltline district, with both stores anticipated to open in June 2019.

“We are very pleased to be opening our two initial corporate retail cannabis stores to serve cannabis consumers in high-profile locations in Calgary and Edmonton. Our experience with opening and supporting the operation of Spiritleaf retail cannabis stores throughout the country illustrates that we have a proven and effective system of opening stores, training knowledgeable staff and providing top-quality cannabis products to the market,” said Darren Bondar, President and CEO of Inner Spirit.

The Company also announced today that the Agents (as defined below) of its previously announced brokered offering (the “Offering“) of senior secured convertible debenture units (“Debenture Units“) exercised in full their over-allotment option to purchase an additional 730 Debenture Units for additional gross proceeds to the Company of $730,000, resulting in aggregate proceeds to the Company under the Offering of $10 million. The Offering was completed through a syndicate of agents (the “Agents“), co-led by Acumen Capital Finance Partners Limited, as sole bookrunner, and Canaccord Genuity Corp., with Burstall LLP acting as legal counsel to the Company. Inner Spirit intends to use the net proceeds of the Offering to build out and provide inventory for wholly-owned corporate Spiritleaf-branded retail cannabis stores in Alberta, to maintain real estate leases in Ontario, to design and produce Spiritleaf custom inventory to support its franchise partners, and for working capital purposes. A portion of the net proceeds of the Offering was used to fully repay the $1.5 million short term loan (plus accrued interest) owed by the Company to Tilray, Inc.

The Company’s seven franchise-owned Spiritleaf-branded retail cannabis stores are open and operating in BrooksLethbridgeSt. AlbertCalgary (Stonegate) and Edmonton (Argyll), AlbertaMoose Jaw, Saskatchewan; and Kingston, OntarioCalgary (Beltline) and Edmonton (Old Strathcona) will be the Company’s initial corporately owned retail cannabis stores. In Alberta, three additional corporate locations and eight additional franchise locations are in the current AGLC licencing queue, with five additional corporate stores and 22 franchise applications under development. In British Columbia, Spiritleaf franchise partners have received municipal licencing approvals and provincial approvals in principle for stores in Castlegar and Maple Ridge, British Columbia, with four additional franchise locations awaiting final approvals.

 

SOURCE Inner Spirit Holdings

Cannabis

Oppenheimer & Co. To Host 19th Annual Consumer Growth and E-Commerce Conference

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Oppenheimer & Co. Inc. (“Oppenheimer”) – a leading investment bank, wealth manager, and a subsidiary of Oppenheimer Holdings (NYSE: OPY) – will host its 19th Annual Consumer Growth and E-Commerce Conference on June 18-19 in Boston, MA. This year’s event features companies from prominent consumer brands such as Autozone, Domino’s Pizza, Express, Home Depot, Lowe’s, Six Flags Theme Parks, Tiffany & Company, Ulta, Walmart, Weight Watchers, and Yum Brands.

Of particular note, Oppenheimer is pleased to host nine of the market-leading companies involved with emerging trends in the Cannabis space this year. The event will also feature seven panel discussions, moderated by Oppenheimer Consumer Research Analysts, addressing emerging and disruptive trends in the consumer marketplace as follows:

  • Evolving Role of Technology in the Consumer Sector with Cooler Screens and Lindsay Goldberg LLC, moderated by Brian Nagel
  • A Discussion with Emerging Restaurant Brands with Aurify and B. Good, moderated by Brian Bittner
  • A Discussion on the Evolving US Food & Beverage Landscape with Lifeway, New Age Beverage, and United Natural Foods, moderated by Rupesh Parikh
  • Next Gen Brands Re-Shaping Landscape for Women’s Fashion with CARAA and Rothy’s, moderated by Brian Nagel
  • Exciting New Brands Shaking Up Home Products Space with Burkelman, LoveSac and Resident/Nectar, moderated by Brian Nagel
  • A Discussion on the Emerging CBD Landscape with Curaleaf and CV Sciences, moderated by Rupesh Parikh
  • Leveraging the Power of Digital to Connect with Consumers with Eight and FlexShopper, moderated by Brian Nagel

The conference features Oppenheimer’s Consumer Senior Research Analysts:

  • Brian Bittner, Managing Director Senior Analyst covering Restaurants
  • Brian Nagel, Managing Director and Senior Analyst covering Retail and E-Commerce
  • Rupesh Parikh, Managing Director and Senior Analyst covering Food, Grocery and Consumer Products
  • Ian Zaffino, Managing Director and Senior Analyst covering event-driven Special Situations

“Long-established business models are being upended by disruptive brands and technology, affecting consumer preferences and buying behaviors throughout the consumer industry. This year’s event aims to showcase the mix of market-leading and emerging companies driving and navigating these changes,” said Erica L. Moffett, Managing Director and Associate Director of Research at Oppenheimer. “From effortless payment methods to accelerated delivery times and customized products, consumers want a seamless experience. In order to succeed, companies must stay current on the evolving consumer and we are pleased to host a conference to explore this new landscape.”

Oppenheimer’s next conference will be the Montauk Emerging Life Sciences Summit, which will be held on June 26-28in Montauk, NY. The 22nd Annual Technology, Internet & Communications Conference will follow on August 6-7 in Boston, MA, followed by the Midwest Corporate Access Day in Chicago on August 15.

Oppenheimer & Co. Inc.
Oppenheimer & Co. Inc. (Oppenheimer), a principal subsidiary of Oppenheimer Holdings Inc. (OPY on the New York Stock Exchange), and its affiliates provide a full range of wealth management, securities brokerage and investment banking services to high-net-worth individuals, families, corporate executives, local governments, businesses and institutions.

SOURCE Oppenheimer & Co. Inc.

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iCAN: Israel-Cannabis CEO and Founder Saul Kaye to Participate at the World Cannabis Congress in Saint John, New Brunswick

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iCAN: Israel Cannabis Founder and CEO Saul Kaye will participate at the World Cannabis Conference being held in Saint John, New Brunswick, Canada from June 16-18, 2019.

Kaye, a leader in the global cannabis ecosystem will moderate a session entitled, “Innovative Methodologies and Emerging Topics in Global Cannabis Research.”  Panelists are Dr. Suzanne Sisley MD President and Principal Investigator, Scottsdale Research Institute and, Dr. Jerry King, R&D Consultant, CFS.  The session will take place at the Saint John Trade & Convention Centre on June 18.

The World Cannabis Congress (WCC) is an exclusive, invite-only event for international cannabis leaders, influencers and trend setters. The event will have hundreds of attendees from around the world from business, government and medicine.

In addition to his leadership of iCAN: Israel Cannabis, Kaye is an industry advisor to the Medical Cannabis Caucus of the Israeli Parliament, as well as an advisor to the Ministries of Economy and Health in Israel. He is a licensed pharmacist and a successful entrepreneur with both retail and e-commerce experience. Saul has founded multiple companies spanning six countries across the US, EuropeIsrael and Australia.

Canada has truly been a global trailblazer in the cannabis industry.  Canadian cannabis companies and its stock market are influential and forward looking and we in Israel, the R&D capital of cannabis, collaborate with our Canadian friends on many different levels.  I look forward to participating at the WCC as the medicine and business of cannabis develops at breathtaking speed both in Israel and beyond,” said Kaye.

 

SOURCE iCAN: Israel Cannabis

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Loyalist College to launch Canada’s first Technology Access Centre for natural products and cannabis

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Loyalist College is the recipient of a $1,750,000 Natural Sciences and Engineering Research Council of Canada (NSERC) College and Community Innovation (CCI) Program grant over five years to launch Canada’s first Technology Access Centre (TAC) for natural products and cannabis. In addition, Loyalist received $1Mthrough the Canada Foundation for Innovation’s (CFI) College-Industry Innovation Fund (CIIF) to add specialized equipment to the TAC.

Loyalist was one of 90 recipients at colleges, cégeps and polytechnics across the country to receive part of the $73M in funding, announced today by the Honourable Kirsty Duncan, Minister of Science and Sport, at Georgian College in Barrie, Ontario. Through the CCI Program and the CIIF, this investment will help post-secondary institutions partner directly with local employers to facilitate commercialization and transform the results of research and development into new technologies to help businesses expand and grow.

The rapid growth of Canada’s cannabis, hops and natural products sectors positions Loyalist’s Applied Research Centre for Natural Products and Medical Cannabis (ARC) as a national innovation hub for small- to medium-sized enterprises. As a TAC, Loyalist will build on the ARC’s 15 years of natural product extraction expertise and analysis-based applied research. In transitioning to a TAC, Loyalist’s ARC will significantly increase the College’s capacity to lead applied research of commercially relevant natural products and cannabis, and to support innovation by enhancing industries’ access to sector-relevant expertise and technology.

The TAC initiative will cultivate an environment for College-industry partnerships to thrive while providing students with unparalleled opportunities for work-integrated learning; investigating extraction, isolation, and formulation; and product development. In partnership with the Quinte Economic Development Commission (QEDC), Loyalist will support the Bay of Quinte’s burgeoning natural products and cannabis sectors to generate regional socioeconomic benefits, and to provide opportunities for a new generation of innovators. Loyalist will also offer companies across Canada a supportive, community-oriented platform from which to enhance their productivity, expand their reach and augment their competitiveness in the global market.

Quotes

“We are very grateful for NSERC’s continued support and proud to be Canada’s first TAC for natural products and cannabis. Loyalist currently has more than 25 companies interested in applied research, and as our ARC transitions into a TAC, we will be able to meet their requirements while significantly extending our network to help more companies to innovate. Our Biosciences and Cannabis Applied Science students will have the advantage of being involved in ground-breaking research that propels Canada forward as the world leader in cannabis and natural product developments.” – Dr. Ann Marie Vaughan, Loyalist College President & CEO

“It’s great to see this NSERC and CFI funding come through for Loyalist College’s launch of Canada’s first TAC for research in natural products and cannabis. Being able to conduct research in a state-of-the-art facility means that students working in the College’s ARC will be able to build up their expertise in product analysis; which can then be applied directly to commercial development. This is just the beginning of seeing a new series of natural products being designed, assessed, made and delivered from our region.” – Neil R. Ellis, Member of Parliament for Bay of Quinte

“I am so proud to see the innovation that is driving research and economic development in our rural community through Loyalist College’s ARC. Innovation is key to Rural Sustainability and this investment will ensure that we are training the next generation in the latest technological advances. I congratulate them on their NSERC and CFI grant, and wish them all the best of success.” – Mike Bossio, Member of Parliament for Hastings—Lennox and Addington

“The Quinte Economic Development Commission is proud to be a supporting partner with Loyalist College on this important initiative that is aligned with economic development opportunities and priorities in the region. The TAC will support industry research and innovation for companies in key industry sectors as well as helping students develop in-demand skills and experience. Congratulations to the team at Loyalist on launching this important project.” – Chris King, Chief Executive Officer, Quinte Economic Development Commission

 

SOURCE Loyalist College

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