Spyder Cannabis Inc said it has changed its name to Delota Corp and in connection with the name change will trade under the ticker symbol LOTA.
The company said it expects that its common shares will begin trading on the TSX Venture Exchange under its new name and ticker symbol on November 22, 2021.
"We are at a pivotal stage in our Company's growth, and we felt it was an important and opportune time to reset. A fresh identity was needed to make that happen," commented Cameron (NYSE:CAM) Wickham, executive vice-chairman and chief executive officer of Delota.
READ: Spyder Cannabis receives Retail Store Authorization for Offside Cannabis location
"The name 'Delota' itself refers to the chemical label for delta-9-THC, and iota is the ninth letter in the Greek alphabet. Combined, the new word refers to our ongoing commitment to the cannabis market, but also subtly opens the door for us to venture into other like-minded, high-growth sectors. The timing couldn't be better as we focus on growing our retail footprint and prepare to launch our new Offside Cannabis dispensary brand," he added.
Delota is an established cannabis and vape retailer that owns and operates two licensed dispensaries under the brand SPDR Cannabis in Ontario and 27 vape retail locations across Ontario under the retail brand 180 Smoke.
180 Smoke is a leading omni-channel Canadian vape retailer with a strong ecommerce presence and over 230,000 registered customers across its B2C channel.
Contact the author at jon.hopkins@proactiveinvestors.com