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Inner Spirit Holdings (CSE:ISH) New Listing

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Inner Spirit is establishing a chain of recreational cannabis dispensaries under its Spirit Leaf brand, with more than 100 franchise partnerships in place for Spirit Leaf locations across BC, Alberta and Saskatchewan.

Additional Information:

Company: Inner Spirit Holdings
Website: http://www.innerspiritholdings.com
Stock Symbol: CSE: ISH
Date Published: Aug 1, 2018
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Inner Spirit Holdings is the latest new listing on the Canadian Securities Exchange, trading under the symbol “ISH”.

Inner Spirit is establishing a chain of recreational cannabis dispensaries under its Spirit Leaf brand, with more than 100 franchise partnerships in place for Spirit Leaf locations across BC, Alberta and Saskatchewan.

Inner Spirit also intends to operate corporate dispensaries in certain jurisdictions.

The company is developing a diverse portfolio of quality and curated lifestyle cannabis products - including Spirit Leaf’s own locally sourced lines – Inner Spirit and its Spirit Leaf brand.

Darren Bondar, President and CEO, stated: “Our shareholders, franchise partners, future customers, and the cannabis industry in general, have all been very receptive to our initiatives. We are looking forward to continuing to collaborate with all stakeholders to support ongoing success of the Company as we move toward the end of prohibition.”

The company recently closed an IPO, raising gross proceeds of $3,750,000 through the placement of 25 million units at $0.15 per unit.

Each unit consisted of one share and one-half a warrant, with each full warrant exercisable at $0.30 for 24 months.

Leede Jones Gable acted as the sole agent for the offering.

The company also completed the previously announced cross-investment with Newstrike Brands Ltd. under which both Newstrike and Inner Spirit have acquired equity interests in each other and have entered into a strategic alliance agreement for the retail distribution of Up Cannabis products, and the creation and operation of Up Cannabis-branded customer lounges or “Experiential Hubs” in Spirit Leaf stores.

Newstrike, the parent company of Up Cannabis Inc., is licensed to both cultivate and sell cannabis in all acceptable forms.

Newstrike, through Up Cannabis and together with select strategic partners, including Canada's iconic musicians The Tragically Hip, is developing a diverse network of high quality cannabis brands.

Jay Wilgar, CEO of Newstrike, stated: “The closing of this transaction signifies our commitment to the adult-use market, participating in the production, supply and retail of cannabis. We look forward to working with the Inner Spirit team to create quality customer experiences and supplying our product to retail in their stores across Canada.”

The shares are currently trading at $0.40.

For more information, please visit the company’s website at www.innerspiritholdings.com., contact Darren Bondar, President and CEO, at 403-930-9300 or email Darren.bondar@spiritleaf.ca.

I’m Megan Edwards for Investmentpitch Media