Inner Spirit Holdings Opens Additional Spiritleaf Stores in Alberta and Ontario and Surpasses Million Customers Served Milestone in July

Published: August 7, 2020

Inner Spirit Holdings Opens Additional Spiritleaf Stores in Alberta and Ontario and Surpasses Million Customers Served Milestone in July

Inner Spirit Holdings Ltd., a Canadian company that has established a national network of Spiritleaf retail cannabis stores, announced additional Spiritleaf store openings and the continued expansion of its retail cannabis store network in Alberta and Ontario. The Company also announced it has surpassed the one million customers served milestone for 2020 during the month of July. It recorded its highest-ever monthly customer count in July as well with 205,000 guests served.

“We’re very pleased to continue our expansion of the Spiritleaf brand into additional communities. We have aggressive growth plans and we’re staying focused on adding outlets to serve more Canadians. We have numerous franchise partners either working through licensing or constructing their stores at this time,” said Darren Bondar, President and CEO of Inner Spirit.

“Our franchise model is extremely effective as we partner with local entrepreneurs and enable them to invest their capital, share their passion and knowledge of cannabis with customers, and contribute to the success of the Spiritleaf brand. We’re proud of every single customer we’ve served this year as that reflects the care and the attention we bring to the shopping experience at our stores for new visitors as well as our loyal repeat customers.”

The Company celebrated the opening of its 55th Spiritleaf location on July 24 with a franchised store in Calgary, Alberta’s Southland community located at the Brick Plaza on Macleod Trail. The Company has a franchise location in Fish Creek Village in Calgary fully built and awaiting final licensing and has conditionally secured five additional franchise locations in Calgary and two additional corporate store locations in Edmonton in anticipation of the Alberta Gaming, Liquor & Cannabis (the “AGLC“) increasing the licensing cap to over 45 permitted stores per operator this fall.

In Ontario, Spiritleaf franchised stores opened in the suburban community of Stittsville near Ottawa on July 25 and in London’s Masonville neighbourhood on July 27. A corporate-owned store in Nepean just south of Ottawa opened on July 29 bringing the total number of Spiritleaf stores operating to 58. These stores follow on Spiritleaf stores in TorontoOttawaGuelph and Kingston. In total, the Company has nine Spiritleaf stores serving customers in Canada’s most populous province and an additional 17 locations under various phases of development.

Additional store locations have been conditionally secured in British ColumbiaSaskatchewanManitoba, and  Newfoundland and Labrador helping to solidify Spiritleaf as Canada’s only coast-to-coast retailer. Please visit www.spiritleaf.ca for information on store opening times and operating hours.

Due to the COVID-19 pandemic, all Spiritleaf stores are 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. Customers can also connect with their local Spiritleaf store through the Spiritleaf Collective customer benefits program to further streamline and individualize the shopping experience. The fast-growing Collective program now has over 85,000 members.

To acknowledge the support from these members, the Company has been running a virtual Spirit Bus Tour across Canada this summer to spread peace, love and harmony. The tour is making “stops” at each Spiritleaf store where Spiritleaf Collective members can access exclusive promotions and special edition festival swag. Bus tickets are available in-store or by email or text for Collective members and no purchase is required. Please visit www.spiritbustour.ca for tour dates and details.

An updated version of the Company’s investor presentation as well as a video interview with CEO Darren Bondar on BNN Bloomberg have been added to www.innerspiritholdings.com/invest/. The Company expects to file its Financial Statements and Management’s Discussion and Analysis for the quarter ended June 30, 2020 on or about August 24, 2020.

Inner Spirit Holdings Ltd. is a franchisor and operator of Spiritleaf recreational cannabis stores across Canada. Learn more at www.innerspiritholdings.com and www.spiritleaf.ca.