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Inner Spirit Holdings Announces Exclusivity Agreements with Two Individuals Placed on the Selected List in Recent Ontario Cannabis Store Lottery

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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, today announced that the Company’s subsidiary, Spirit Leaf Inc., has entered into Exclusivity Agreements with two individuals that have been selected to apply for licences to operate cannabis retail stores as a result of the Alcohol and Gaming Commission of Ontario’s (the “AGCO“) lottery conducted on August 20, 2019. Conditions in the agreements are subject to approval by AGCO.

“These lottery winners were seeking a strong partner to work with so we are very pleased Spiritleaf has been selected to help them establish and operate their stores. Our retail expertise, strategic partnerships with key industry players, authentic brand and in-store experience have generated a dedicated customer base for Spiritleaf. The efficiency and effectiveness with which we are opening our first 33 Spiritleaf stores shows our focus and determination for building out the Spiritleaf brand across the country, and we are pleased to be able to work with our new partners to open stores in the East and GTA regions of Ontario,” said Darren Bondar, President and CEO for Inner Spirit.

The Company intends to leverage its experience in the cannabis retail sector to assist the winners with the establishment and operation of their cannabis retail stores in Ontario. The Company’s history of franchising, licensing and operating retail stores makes it unique among industry players who may be offering their support to winners in the recent AGCO lottery. Previously, the Company established a noteworthy commercial presence in Kingston, Ontario with one of the province’s first retail cannabis stores opening on April 1, 2019.

“Making further investments in Ontario shows we are relying on the Ontario government to continue on their path to providing certainty for the cannabis industry and specifically for retailers moving forward. We expect the government to further open up licensing in the near term so companies interested in developing a branded presence throughout the province can achieve the 75 licences per brand that was previously indicated and small business owners can participate with confidence. Spiritleaf has more than 20 franchise partners in Ontario who are currently waiting to open their retail cannabis stores to serve customers in their local communities,” said Bondar.

The Spiritleaf retail cannabis store network is poised to be second largest in Canada with 33 Spiritleaf retail cannabis stores open and operating or licensed and preparing to open by September 30, 2019. Stores are located in AlbertaBritish ColumbiaOntario and Saskatchewan. Please visit www.spiritleaf.ca for further information on store locations and operating hours.

Those interested in the cannabis industry are invited to hear Darren Bondar speak at the MJBizINT’L Conference at the Metro Toronto Convention Centre in Toronto on September 5, 2019 where he will present on a panel with industry experts to discuss “Retail Business Opportunities: Opening a Retail Store in Canada.” For those interested in a Spiritleaf franchise, the Spiritleaf team will be at The Toronto Franchise Expo being held at The International Centre in Mississauga, Ontario on September 7 and 8, 2019.

 

SOURCE Inner Spirit Holdings Ltd.

Cannabis

Sunniva Announces Closing Of Third Tranche Of Short Term Bridge Financing For Proceeds Of Cad $325,000

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Sunniva Inc. (“Sunniva”, the “Company”, “we”, “our” or “us”) (CSE:SNN) (OTCQB:SNNVF), a North American provider of cannabis products and services, is pleased to announce that it has closed the third tranche of the Company’s non-brokered private placement (the “Offering“), previously announced on August 1, 2019 of CAD $325,000 for a total of 325,000 units of the Company (“Units“). In aggregate the total gross proceeds raised by the Offering was CAD $7.57 million and 7.57 million Units issued. Each Unit consists of a principal amount of unsecured promissory notes of the Company (“Promissory Notes“) and common share purchase warrants of the Company (“Warrants“).

As previously disclosed, proceeds of the Offering will be used to provide short term working capital for operations in California, capital costs at the Sunniva California Campus and general corporate purposes.

The Units issued under the Offering have the following terms:

Promissory Notes  

     Maturity: 

6 months from the closing date.

     Interest Rate:

10% (annual rate).

Warrants 

     Number of Warrants:   

0.40 Warrants per Unit (each Warrant entitles the holder to acquire one common

share of the Company at the Warrant Exercise Price).

     Warrant Exercise Price:  

CAD $2.50 per Warrant.

     Warrant Term:         

24 months from closing.

A finder’s fee of 5% payable in cash will be paid to certain investment advisors for introducing certain purchasers of Units to the Company.

The Promissory Notes and Warrants have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Promissory Notes or Warrants in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.

For more information please visit: www.sunniva.com.

To be added to the Sunniva email distribution list please register at www.sunniva.com/email-alerts.mailto:

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

SOURCE Sunniva Inc.

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Prairie Records Tops the Charts: Named Top Cannabis Retailer in Canada at Grow UP

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Westleaf Inc. (the “Company” or “Westleaf“) (TSX-V:WL) (OTCQB:WSLFF) is proud to announce its Prairie Records retail stores have been named top cannabis retailer in Canada at the GrowUP Conference & Expo. Singing a different tune in cannabis retail, the award win is a testament to how Prairie Records is offering Canadian’s a truly unprecedented purchasing experience.

“It is extremely gratifying to have Prairie Records be recognized at one of the industry’s largest events and to be able to stand out amongst a field of very worthy retail competitors,” says Adam Coates, Chief Commercial Officer at Westleaf and Retail Brand Strategist for Prairie Records. “We set out to make waves in a sea of sameness by creating an immersive experience like no other in the marketplace, and we are pleased and honoured to receive this, the first Grow UP Conference retail award.”

Ten companies were nominated in the Grow UP retail category at this year’s event, the first for the industry. Among the nominees were independent stores and well-known national chains. Prairie Records was recognized based on delivering an unparalleled consumer purchasing experience and creating a welcoming brand for cannabis consumers.

Westleaf has four Prairie Records stores open, three in the Saskatoon region and one in Calgary, which is hosting its grand opening tomorrow, September 14. The concept combines the tactile and immersive feel of a vinyl record store with a cannabis purchasing experience. Information about the cannabis strains and strengths are presented on album covers and the customer is enveloped in a warm and welcoming retail experience. The staff are well versed on the product offering and provide educational opportunities for both the experienced cannabis connoisseur as well as the novice consumer.

 

SOURCE Westleaf Inc.

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INTERCURE: CANNDOC signs strategic distribution agreement with S.L.E. of TEVA Pharmaceuticals

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InterCure (TASE: INCR), announced that subsidiary Canndoc has entered into a strategic distribution agreement with Salomon, Levin, Elstein (S.L.E.,) which is owned by Teva Pharmaceuticals Industries (NYSE: and TASE: TEVA).

Under terms of the agreement, S.L.E. will distribute Canndoc’s GMP products to pharma clients, including hospitals, health maintenance organizations (HMOs) and all pharmacies in Israel, including pharmacy chains. In the future, as regulatory approvals allow, S.L.E. will provide logistics capability for exporting Canndoc’s products to countries that support regulations for the sale and distribution of cannabis products for medical use.

S.L.E. is one of Israel’s leading companies for providing health logistics services and distributes products from dozens of local and international companies. S.L.E. is licensed by the Israeli Ministry of Health, and also holds a GDP distribution license.

“Our agreement with S.L.E., Israel’s leading company in distributing medical products, creates a complete supporting platform for supplying Canndoc’s GMP products to any location in Israel and for countries with similar regulations,” said Canndoc’s Chairman Ehud BarakThrough its S.L.E. partnership, Canndoc has aligned itself with one of the most prominent pharmaceutical companies in the world, for the distribution of cannabis-based medical treatments to countries that recognize the value of these medicines for people in need.”

S.L.E. CEO Aviad Bossi adds, “The agreement brings together our well-established pharmaceutical distribution network with Canndoc’s high quality medical cannabis industry presence and market leadership. Beyond the operations in Israel, this agreement will provide Canndoc significant logistical capabilities that can support Canndoc’s exporting operations from Israel.”

The distribution agreement is set for a 3-year term and includes a mechanism for automatic extension periods of two years each.

Canndoc is one of the first licensed producers, with its GMP-approved medical cannabis Rx products being sold in pharmacies. The engagement in this distribution agreement will broaden Canndoc’s ability to distribute GMP products to its patients within the S.L.E. pharmacy network throughout Israel. In addition, S.L.E. will provide Canndoc significant logistical capabilities in the future supporting Canndoc’s ability to export its products to countries with consistent regulation for the sale and distribution of cannabis products for medical use.

 

SOURCE Canndoc

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