Inner Spirit Holdings Announces Opening of Six Spiritleaf Stores Across the Country in October

Published: October 27, 2020

Inner Spirit Holdings Announces Opening of Six Spiritleaf Stores Across the Country in October

Inner Spirit Holdings Ltd., a Canadian company that has established a national network of Spiritleaf retail cannabis stores, today announced the further expansion of its network with a total of six Spiritleaf store additions in OntarioAlberta, and Newfoundland and Labrador in October. New store openings are planned for Burlington and Windsor, Ontario this week. Earlier in the month, Spiritleaf stores opened in Scarborough and Parkdale in Toronto, Canyon Meadows in Calgary, and Goulds in St. John’s. Additional information and details on opening dates as well as store operating hours can be found at www.spiritleaf.ca.

“I’m so proud of our team as we continue to expand the Spiritleaf brand across the country. We and our franchise partners are now operating 64 stores as Canada’s leading recreational cannabis retail store network, and we’re experiencing such support and loyalty from our customers. It was a pleasure to celebrate the second anniversary for recreational cannabis legalization earlier this month and to realize how much the Spiritleaf Nation has achieved in such a short time frame,” said Darren Bondar, President and CEO of Inner Spirit.

“We have passionate local entrepreneurs who have invested their capital in the Spiritleaf brand and who are helping educate and bring the benefits of legal recreational cannabis to their communities. We are serving record numbers of guests each month, and we have over 140,000 loyal members in our Collective customer benefits program.”

To celebrate the second anniversary of cannabis legalization in Canada, the Company released a report on October 17 that details Spiritleaf activities as well as industry trends over the past two years. The report can be reviewed at  www.innerspiritholdings.com/news/.

The interest in owning Spiritleaf franchises remains strong across the country with additional stores planned in the coming months for British ColumbiaAlbertaSaskatchewanManitobaOntario, and Newfoundland and Labrador. In Ontario specifically, the Company will now be operating 13 Spiritleaf stores in urban centres such as TorontoOttawaLondonWindsorBurlingtonGuelph and Kingston. The majority of the stores are franchised locations with corporate-owned Spiritleaf stores located in KingstonOttawa and the one announced today in Windsor.

The expansion into Canada’s most populous province bodes well for the Company’s ongoing growth strategy through the end of this year and into 2021. Spiritleaf is one of only two retail networks currently operating more than a dozen stores in Ontario. The Ontario market is considered to be underserved with a population per cannabis store of approximately 75,000 compared with 8,500 for the more established Alberta market.

Due to the ongoing COVID-19 pandemic, Spiritleaf stores have been operating with enhanced customer service processes to ensure the safety of employees and customers. Spiritleaf’s Select & Collect service enables customers to pre-shop and order online prior to pick-up in store. Customers can also connect with their local Spiritleaf store through The Collective program to further streamline and individualize their shopping experience. Since the onset of the pandemic, Spiritleaf stores have been experiencing an increase in shoppers’ average basket size which speaks to customers enhancing their purchases and buying more product in bulk when they shop.

Inner Spirit Holdings Ltd. is a franchisor and operator of Spiritleaf recreational cannabis stores across Canada. The Spiritleaf network includes franchised and corporate locations, all operated with an entrepreneurial spirit and with the goal of creating deep and lasting ties within local communities.