Spyder Cannabis Inc (CVE:SPDR) has announced that its subsidiary Spyder Cannabis Subco Inc has won government approval for a cannabis dispensary in Pickering, Ontario.
The next step is the completion of a Pre-Store Opening Inspection by the Alcohol and Gaming Commission of Ontario, which issued the Retail Store Authorization (RSA).
The company said Spyder Subco will then be permitted to begin operating its second cannabis dispensary in Ontario under the SPDR Cannabis brand selling recreational cannabis products and consumption accessories.
READ: Spyder Cannabis brings in new COO Christina Pan from recently acquired 180 Smoke
"This new retail store is expected to be one of the first licensed dispensaries permitted to open in Pickering that has a growing population of approximately 100,000 residents and draws from a labour force of nearly 6 million from across the GTA,” said Spyder CEO Dan Pelchovitz in a statement.
“Leveraging our recent 180 Smoke acquisition, we have also begun converting two vape retail locations in Oshawa and Niagara Falls into cannabis dispensaries. We anticipate to apply for RSAs for these locations upon completion of our buildouts. We are excited to further our retail footprint across Ontario in underserved communities with our brand name and best-in-class customer service."
The company also announced that it has begun converting its two Spyder Vapes retail locations in Woodbridge and Scarborough under the 180 Smoke brand name, creating one of the largest specialty vape retail chains in Canada with 26 and growing retail locations across Ontario and a robust e-commerce platform with over 95,000 registered customers.
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