CSE: ISH

Inner Spirit Holdings Announces Launch of Online Cannabis Retail and Opening of Franchise Ownership Opportunities in Saskatchewan

November 13, 2019

Inner Spirit Holdings Announces Launch of Online Cannabis Retail and Opening of Franchise Ownership Opportunities in Saskatchewan 

Canada’s top cannabis retailer to deliver online retail experience and resume franchise sales based on Province’s positive regulatory environment 

CALGARY, Alberta (November 13, 2019) – Inner Spirit Holdings Ltd. (“Inner Spirit” or the “Company”) (CSE:ISH), a Canadian company establishing a national network of retail cannabis stores under its Spiritleaf brand, today announced plans to expand across the province of Saskatchewan with the launch of an online cannabis retail website at sk.spiritleaf.ca and the resumption of franchise sales activity directed at local entrepreneurs in the province. Spiritleaf franchise information is available at www.innerspiritholdings.com.

“We have become Canada’s number one cannabis retailer by continually finding new ways to deliver the best shopping experience for our customers. We were the first out in Canada with the Leafly Pickup service that allows customers to order online and then pick up and purchase products in-store at our locations. Now we’re offering online ordering and delivery of recreational cannabis across Saskatchewan in partnership with Shopify (TSX:SHOP), Pineapple Express and Canada Post. The online ordering platform we’ve developed is one we can also put to work in other jurisdictions if additional markets become accessible to us,” said Darren Bondar, President and CEO of Inner Spirit. 

Cannabis e-commerce platforms for recreational product are expected to gain traction as Canada’s legal market matures. Saskatchewan allows private cannabis retailers to sell recreational product online and deliver it directly to consumers while Ontario recently announced its intention to enable consumers to browse and order product online prior to collecting it from a participating store. In Saskatchewan, residents will have access to Spiritleaf’s full product line of cannabis and related accessories with order fulfillment being managed through Spiritleaf’s locally owned Moose Jaw franchised location with same day delivery available through Pineapple Express in Regina and Moose Jaw. 

“The Province of Saskatchewan has proven to be a positive regulatory environment for the retail cannabis sector. The province recently announced that it’s moving forward with a phased-in open market system for cannabis retail licensing in the spring of 2020. Spiritleaf will be looking to add new franchised and corporate-owned stores in locations throughout Saskatchewan to serve more communities with the premium shopping experience for which we’ve become celebrated,” said Bondar. 

Spiritleaf’s retail cannabis store network includes locations in Alberta, British Columbia, Saskatchewan and Ontario. Spiritleaf is currently Canada’s largest cannabis retail brand with 37 operating stores across the country. 

About Inner Spirit

Inner Spirit Holdings Ltd. (CSE:ISH) has established a growing network of recreational cannabis stores across Canada under its Spiritleaf brand. The Spiritleaf network includes franchised and corporate-owned stores as well as an Ontario retail partnership, all operated with an entrepreneurial spirit and with the goal of creating deep and lasting ties within their local communities. Spiritleaf aims to be the most knowledgeable and trusted source of recreational cannabis by offering a premium consumer experience and quality curated cannabis products. The Company is led by passionate advocates for cannabis who have years of retail, franchise and consumer marketing experience. Key industry partners and shareholders include Auxly Cannabis Group Inc. (TSX.V:XLY), HEXO Corp (TSX:HEXO) and Tilray, Inc. (NASDAQ:TLRY). Learn more at www.innerspiritholdings.com and www.spiritleaf.ca. 

Forward-looking statements 

This news release contains statements and information that, to the extent that they are not historical fact, may constitute “forward-looking information” within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives or economic performance, or the assumption underlying any of the foregoing. In some cases, forward-looking statements can be identified by terms such as “will”, “looking to”, “expected”, “aim”, “plan”, or the negative thereof or other similar expressions concerning matters that are not historical facts. Examples of such statements include, but are not limited to, statements with respect to the objectives and business plans of the Company; the Company’s plan to expand across the Province of Saskatchewan; the Company’s plan to resume franchise sales activity in the Province of Saskatchewan; the ability of the Company to put its online ordering platform to work in other jurisdictions; the Company’s expectation that cannabis e-commerce platforms for recreational products will gain traction as Canada’s legal market matures; and the Company looking to add new franchised and corporate-owned retail cannabis stores in locations throughout Saskatchewan.  Actual results could differ materially from those currently anticipated due to a number of factors and risks, including but not limited to, the risk that the Company may not be able to expand across the Province of Saskatchewan, whether through online retail cannabis sales, through opening franchised retail cannabis stores, or through corporate-owned retail cannabis stores; the risk that the Company or its franchisees do not receive retail cannabis licenses or are not able to open additional retail cannabis stores; the risk that cannabis e-commerce platforms for recreational products will not gain traction as Canada’s legal market matures, and in the event that they do and are permitted in other jurisdictions, the risk that the Company will not be able to use its online ordering platform in such jurisdictions; and other factors outside of the Company’s control. Readers are cautioned that the foregoing list of factors and risks is not exhaustive. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Since forward-looking information addresses future events and conditions, by its very nature it involves inherent risks and uncertainties. The Company’s actual results, performance or achievements could differ materially from those expressed in, or implied by, the forward-looking information and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits the Company will derive therefrom. The forward-looking statements included in this news release are made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities legislation.

For further information

Email: invest@spiritleaf.ca 

Phone: 1 (403) 930-9300

www.innerspiritholdings.com