Inner Spirit Holdings Ltd. (CSE: ISH) (OTCMKTS:INSHF) has signed agreements with two individuals that have been selected to apply for licenses to operate cannabis retail stores as a result of the Alcohol and Gaming Commission of Ontario’s (AGCO) lottery conducted last month.
The agreement, subsidiary by the company’s Spirit Leaf subsidiary, is subject to approval by the AGCO.
“These lottery winners were seeking a strong partner to work with so we are very pleased Spiritleaf has been selected to help them establish and operate their stores. Our retail expertise, strategic partnerships with key industry players, authentic brand and in-store experience have generated a dedicated customer base for Spiritleaf,” Inner Spirit President and CEO Darren Bondar stated.
Inner Spirit said it will assist the winners with the establishment and operation of their cannabis retail stores in Ontario.
Inner Spirit Retail Stores
Inner Spirit called itself a “unique” industry player with experience in franchising, licensing and operating retail stores and assisting winners of the AGCO lottery.
The Spiritleaf retail cannabis store network is poised to be second largest in Canada with 33 retail cannabis stores open and operating or licensed and preparing to open by September 30. Stores are located in Alberta, British Columbia, Ontario and Saskatchewan.
“We expect the government to further open up licensing in the near term so companies interested in developing a branded presence throughout the province can achieve the 75 licenses per brand that was previously indicated and small business owners can participate with confidence,” Bondar stated.
He noted that Spiritleaf has more than 20 franchise partners in Ontario who are waiting to open their retail cannabis stores.