CSE: ISH

Inner Spirit Receives License for Cannabis Retail Store to Open in Calgary

January 28, 2019

Spiritleaf store one of 10 approved by Alberta Gaming, Liquor & Cannabis as product inventory grows

CALGARY, Alberta (January 28, 2019) – Inner Spirit Holdings Ltd. (“Inner Spirit” or “the Company”) (CSE:ISH) is pleased to announce that one of its franchise partners is expected to open the first Spiritleaf cannabis retail store in Calgary next week. The store will be located in Northeast Calgary’s Stonegate Plaza at the intersection of Country Hills Boulevard and Barlow Trail with access to the city’s major transportation routes.

The Company was notified by Alberta Gaming, Liquor & Cannabis (“AGLC”) on January 25, 2019 that the Stonegate Calgary franchise location had secured a license as the province’s temporary licensing suspension was briefly lifted for the first time since the AGLC suspended issuing licenses and accepting new applications in November 2018.

“We’re very pleased a Spiritleaf franchise partner received one of the operating licenses granted at this time. We’ll soon have our first recreational cannabis retail store open in Calgary. We are seeing the continued strong demand and interest in cannabis and look forward to providing customers with quality products from knowledgeable staff in a comfortable store setting,” said Darren Bondar, President and CEO of Inner Spirit.

About Inner Spirit

Inner Spirit is establishing a chain of recreational cannabis dispensaries under its Spiritleaf brand. Supporting local entrepreneurs by applying its award-winning franchise and retail models, Inner Spirit has more than 100 franchise agreements in place for potential Spiritleaf locations and will also operate corporate dispensaries in certain jurisdictions. Developing a diverse portfolio of quality and curated lifestyle cannabis products – including Spiritleaf’s own locally sourced lines – Inner Spirit’s Spiritleaf brand is positioned to be an iconic Canadian brand and the most trusted source for recreational cannabis. More information can be found on Inner Spirit’s website at www.innerspiritholdings.com.

Forward-looking statements

This document 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. The forward-looking statements contained in this document are made as of the date hereof and, accordingly, are subject to change after such date.

For further information

Investor Relations

Email: invest@spiritleaf.ca

Phone: 1 (403) 930-9300

www.innerspiritholdings.com