Inner Spirit Expanding into Ontario Market with Kingston Location

Published: February 14, 2019

Inner Spirit Expanding into Ontario Market with Kingston Location

Inner Spirit Holdings Ltd. announced that its subsidiary, Spirit Leaf Inc. (“SLI”), has entered into an agreement with one of the initial 25 retail cannabis lottery winners in the province of Ontario, as selected by the Alcohol and Gaming Commission of Ontario (“AGCO”). The lottery winner has made an application to open a Spiritleaf retail cannabis store on Princess Street in the heart of Kingston, Ontario in anticipation of a targeted April 1, 2019 opening.

“The Spiritleaf brand has a deep connection to Kingston having supported the Gord Downie and Chanie Wenjack Fund to promote reconciliation efforts in the country,” said Darren Bondar, President and CEO of Inner Spirit. “Our company’s entry into the Ontario market is an important milestone for our business strategy and highlights our plans to locate more than 100 stores throughout the country that support and promote the Spiritleaf brand for Canada’s cannabis consumer. We look forward to the collaboration with the lottery winner and entering the Ontario market through Kingston.”

The retail agreement entered into with the Ontario retail lottery winner allows for the opening of a Spiritleaf store through a brand licence and consulting arrangement with SLI. SLI is collaborating with the lottery winner to build out the store location, license its brand and operating standards, and provide expert product training.

SLI has also entered into 20 franchise agreements for the Ontario market in anticipation of the Government of Ontario’s plans to issue additional retail licences starting in December 2019, with intentions of opening, or licensing others the right to open, up to the maximum 75 stores initially expressed to be permitted by the provincial government. Inner Spirit has four Spiritleaf retail franchise stores currently operating in Alberta and Saskatchewan with a fifth outlet scheduled to open in Northeast Calgary’s Stonegate Plaza on February 14, 2019.