Spyder Cannabis Inc has announced that its wholly-owned Spyder Cannabis Subco Inc subsidiary has received Retail Store Authorization (RSA) from the Alcohol and Gaming Commission of Ontario (AGCO) for its proposed cannabis dispensary located in Oshawa, Ontario.
The company also said Spyder Cannabis Subco has successfully passed a pre-authorization inspection with AGCO and has now been placed in the queue to receive RSA on its second proposed cannabis dispensary in Niagara Falls, Ontario.
“We expect to apply for three additional RSAs in Hamilton, Ottawa and The Blue Mountains for premises within our existing lease portfolio which would increase our dispensary footprint to a total of seven locations in Ontario,” Spyder Cannabis Subco CEO Dan Pelchovitz said in a statement.
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“We are targeting all of these conversions and buildouts to commence before the end of 2021,” Pelchovitz added.
Spyder Cannabis noted both retail premises will continue to operate as vape stores under the 180 Smoke banner name until the company has finalized its new cannabis dispensary brand and banner name, which is expected to be announced in the coming weeks.
The company added that it is exploring additional opportunities to convert other 180 Smoke retail locations while continuing to build and expand on Spyder's footprint and presence in Ontario.
Spyder Cannabis is a cannabis and vape retailer that operates in jurisdictions where the products are federally legal in Canada. Through its subsidiaries, the company is involved in the sale of cannabis products, as well as the sale of smoking cessation products.
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