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 Alberta, British Columbia, Ontario 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.