Inner Spirit Holdings Announces Six New Licences for Spiritleaf Retail Cannabis Stores in Alberta And Opening of New Spiritleaf Corporate Store in Jasper

Published: July 17, 2019

Inner Spirit Holdings Announces Six New Licences for Spiritleaf Retail Cannabis Stores in Alberta And Opening of New Spiritleaf Corporate Store in Jasper

Inner Spirit Holdings Ltd., a Canadian company establishing a national network of retail cannabis stores under its Spiritleaf brand, has received six additional licences from Alberta Gaming, Liquor and Cannabis (the “AGLC”) for retail cannabis stores in the province. The Company also announced that its corporate-owned retail cannabis store in Jasper, Alberta located at 618 Patricia Street is expected to open on Monday, July 22. Please visit www.spiritleaf.ca for more information, including operating hours.

The newly licensed locations include Spiritleaf retail cannabis stores in Beaumont, Calgary (Bow Trail), Calgary (Chinook), Edmonton (Ironstone), Grande Prairie and Medicine Hat, Alberta. All locations are franchised stores except for Calgary (Chinook), which is a flagship corporate location that also operates as Spiritleaf’s in-store training and development centre.

“We are delighted to receive the licences from the AGLC for six additional Spiritleaf retail cannabis stores. We are rapidly deploying our stores and delivering the Spiritleaf experience through our franchise partners and corporate locations in local communities throughout the country,” said Darren Bondar, President and CEO of Inner Spirit. “Our ability to put our stores in place with knowledgeable staff and premium recreational cannabis products, and then to generate revenue right out of the box will help us generate success as we build out the Spiritleaf brand across Canada. It’s also exciting for us to prepare to open our corporate store in Jasper which will be a great addition to the town and for the people enjoying the beautiful National Park in Canada’s Rockies.”

The Company now has 19 Spiritleaf-branded locations open and operating or licensed and in final stages of opening in Alberta, Saskatchewan, British Columbia and Ontario. Additional licences for retail cannabis stores in British Columbia and Alberta are expected to be received in the near term. In Ontario, the Company expects expression of interest applications to be submitted for Spiritleaf store locations in the August 20 lottery being conducted by the Alcohol and Gaming Commission of Ontario (the “AGCO”). Ontario plans to add 50 retail cannabis stores in the province on top of the 25 stores already selected earlier this year.

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