Inner Spirit Holdings Inc. Announces 55 Recreational Cannabis Franchise Agreements

Specialty Retailer and Franchisor Envisions Spiritleaf as Canada's Leading Recreational Cannabis Retail Chain

CALGARY, Nov. 21, 2017 /CNW/ - Inner Spirit Holdings Inc. ("Inner Spirit" or "the Company"), a specialty retailer and franchisor establishing recreational cannabis dispensaries across Canada, today announced that it has executed 55 franchise agreements ahead of the country's planned recreational cannabis legalization in July 2018.

"Realizing the significant opportunity associated with Canada's legalization of recreational cannabis, we created the Spiritleaf brand and began marketing franchises in May of 2017 with the goal of recruiting 100 qualified entrepreneurs who want to work together to build an iconic Canadian brand," said Darren Bondar, CEO of Inner Spirit. "I am very encouraged by the interest we have received so far, and it has increased significantly given the cannabis framework announced by the Government of Alberta last week.   

"I am pleased with Alberta's approach to recreational cannabis distribution – our research shows that consumers have a preference toward privately-run dispensaries. Spiritleaf has established a model that ensures safe, reliable, and restricted access to recreational cannabis that is consistent with the current legalization framework. Reflecting Inner Spirit's collective approach, we have provided our founding franchise partners the opportunity to own part of our parent company. We also value an inclusionary approach to the recreational cannabis retail experience, so we have designed our stores to offer a selection of high-quality products in a professional, yet comfortable environment that will be owned and operated by members of local communities."

To date, Inner Spirit has raised more than $2.5 million and is currently working to close a private placement to support franchise sales and establish a corporate flagship location in Calgary in mid-2018. More information can be found on Spiritleaf's website at www.spiritleaf.ca.

About Inner Spirit Holdings

Inner Spirit Holdings is a specialty retailer and franchisor company that is applying its successful model to the recreational cannabis market. The first and only Canadian cannabis company to be granted Canadian Franchise Association Membership to date, Inner Spirit is establishing a chain of recreational cannabis dispensaries under its Spiritleaf brand, with the vision of becoming the leading recreational cannabis retail chain in Canada. Spiritleaf aims to be the most knowledgeable and trusted source of recreational cannabis, offering a premium consumer experience with its own brand of high-quality products. It is estimated that the Canadian recreational cannabis market could generate $5 billion or more per year.

SOURCE Inner Spirit Holdings

Investor Enquiries: Darren Bondar, Chief Executive Officer, [phone], [email protected]; Franchise Enquiries: Courtney Richer, Franchise Relations, [phone], [email protected]