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Spyder Cannabis signs hemp supply agreement to support new product line

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Founded in 2014 Spyder currently has an established chain of three high-end vape stores, and two cannabis accessory stores, in Ontario, with locations in Woodbridge, Scarborough, Burlington, Pickering and Niagara Falls.


Additional Information:

Company: Spyder Cannabis Inc
Stock Symbol: TSXV: SPDR
Date Published: Jul 19, 2019
Transcript: Available

Video Transcript:

I’m Erica James for Investmentpitch Media

Spyder Cannabis one of the latest new listings on the TSX Venture Exchange, following its Qualifying Transaction with Anchor Capital.

Founded in 2014 Spyder is an established chain of three high-end vape stores in Ontario, with stores located in Woodbridge, Scarborough and Burlington.

The Spyder brand is defined by its high-quality proprietary line of e-juice, liquids and exclusive retail deals, dispensed in uniquely designed stores creating the optimal customer experience.

The company is building off this leading retail, distribution and branding eCig and vapes company and is pursuing expansion into the legal cannabis market.

Spyder has developed a scalable retail model with aggressive expansion plan to create a significant retail footprint with targeted and disciplined retail distribution strategy focusing on Canadian locations in high traffic peripheral areas.

This week, the company announced that it will be opening an additional two retail stores which will be located in Niagara Falls and in Pickering, and will focus on the sale of cannabis accessories, hemp seed oil products, and hemp accessories.

Dan Pelchovitz, President and CEO, stated: "Spyder is excited to be able to announce our pending opening of two additional retail locations within Ontario, bringing our total to 5 operating stores and the launch of the SPDR website, which we believe demonstrate our commitment to creating value for our shareholders, a responsibility we take seriously as a newly listed company. We recently promised that we would take tangible steps to benefit our shareholders, and we believe that these latest developments leave us headed in the right direction.”

The Niagara location, two other retail locations that Spyder operates in Burlington and Calgary and a location that it intends to open in Guelph, subject to negotiating satisfactory terms with the landlord, will all be converted into cannabis retail stores as part of the Company's "Cannabis Turn-Key Strategy".

Under phase one of the Turn-Key Strategy, Spyder intends to operate a number of retail locations that will, in contrast to a number of its competitors, generate revenue by operating as retailers of a variety of non-cannabis products.

Under phase two of the Turn-Key Strategy, Spyder will, subject to the receipt of cannabis retail licences from the Alcohol and Gaming Commission of Ontario and the Alberta Gaming, Liquor and Cannabis Commission, convert these retailers into cannabis stores at the earliest possible opportunity.

The company believes this strategy will allow it to generate stable revenue streams during the interim period, before the stores receive a retail cannabis licence, and will allow the company to swiftly pivot into the sale of cannabis products once appropriate licences have been received.

The shares are trading at $0.09.

For more information, please visit the company’s website, or contact Dan Pelchovitz, President and CEO, at 647-273-1512, or email

I’m Erica James for Investmentpitch Media