The Company has closed a private placement offering (the "Offering") for aggregate gross proceeds of
"We appreciate the continued support from a strong and committed institutional partner and we're pleased with our financial position as we have more than
"Spiritleaf stores across the country have been recording strong operating performance as the network matures. Proceeds from today's financing will enable us to selectively add new corporate-owned stores in targeted markets within
The Company also just completed its virtual Spirit Bus Tour across
The Spiritleaf retail cannabis store network currently includes a total of 58 stores (47 franchised and 11 corporate-owned) operating in
Due to the COVID-19 pandemic, 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 in store. Customers can also connect with their local Spiritleaf store through the Collective program to further streamline and individualize the shopping experience.
About
Inner Spirit Holdings Ltd. (CSE:ISH) is a franchisor and operator of Spiritleaf recreational cannabis stores across
Forward-Looking Information
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 is typically, but not always, identified by the use of words such as "will" and similar words, including negatives thereof, or other similar expressions concerning matters that are not historical facts. Forward-looking information in this news release includes, but is not limited to, statements regarding: the proceeds from the Offering enabling the Company to selectively add new corporate-owned stores in targeted markets within Canada. Such forward-looking information is based on various assumptions and factors that may prove to be incorrect, including, but not limited to, factors and assumptions with respect to: the ability of the Company to successfully implement its strategic plans and initiatives and whether such strategic plans and initiatives will yield the expected benefits; and the receipt by the Company of necessary licences from regulatory authorities. Although the Company believes that the assumptions and factors 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 it will prove to be correct or that any of the events anticipated by such forward-looking information will transpire or occur, or if any of them do so, what benefits the Company will derive therefrom. 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 does not receive the necessary retail cannabis licences or that it is not able to open additional retail cannabis stores as anticipated or at all; the ability of management to execute its business strategy, objectives and plans; and the impact of general economic conditions and the COVID-19 pandemic in
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