Kiaro Holdings Corp., a national omni-channel cannabis retailer and wholesale distributor, is pleased to announce the opening of a new retail cannabis store during the month of January 2022. The new store is located at 1650 Pandosy Street in Kelowna, British Columbia and was opened to the public on December 31st 2021. With the addition of the Kelowna Store, the Company’s retail footprint grew to 16 retail locations under the Kiaro and Hemisphere banners across Canada, which accompanies its wholesale distribution business in Saskatchewan and multi-jurisdictional e-commerce business.
The Kelowna Store is open on Sundays through Thursdays from 10:00 AM to 8:00 PM and on Fridays and Saturdays from 10:00 AM to 10:00 PM. The Company’s management team expects the Kelowna Store to experience a high level of foot traffic over time, as it is situated amongst many restaurants, cafes, and other retail stores in the city. Kiaro also believes that the Kelowna Store will help fuel the revitalization of downtown Kelowna, a historic area that is undergoing significant change due to the execution of both municipal projects and significant commercial developments.
Chief Executive Officer, Daniel Petrov stated, “We are extremely excited to open and offer Kiaro’s retail experience to residents of Kelowna, BC. Increasing our footprint here at home in BC is strategically important to our Company as Kelowna’s proximity offers strong demand within the adult use market. We are proud to say that we are the largest public cannabis retailer in B.C.”. Petrov continued, “We have grown tremendously since 2021 and Kiaro is well positioned with a formidable footprint in not only BC, but Canada as a whole. We are committed towards our goal and approach of continued expansion through organic and inorganic means. We are aiming to get this location to generate positive EBITDA within three months of opening. Kiaro shareholders can expect further announcements in the coming weeks.”
Kiaro Holdings Corp.
Based in Vancouver, British Columbia, Kiaro is an independent, omni-channel cannabis retailer and distributor. Kiaro has retail stores in operation across British Columbia, Saskatchewan, and Ontario. This is in addition to its wholesale distribution division servicing Saskatchewan, and ecommerce sites in Canada, the US and Australia. Kiaro is driven to introduce new and experienced consumers to a lifelong exploration of cannabis. With more than 70 years of collective retail and wholesale focused experience, Kiaro’s leadership team has a proven track record of executing on acquisitions and financings, and moreover growing brands across North America. The Company plans to continue its growth trajectory through its consumer-centric retail, ecommerce, and wholesale distribution segments over the coming years. For more information about the Company, including the most recent analyst report, please visit investors.kiaro.com.
