Inner Spirit Holdings is Positioned to be a Leader in the Recreational Cannabis Industry
Inner Spirit Holdings Ltd. (CSE:ISH) is applying its franchise and retail model to the recreational cannabis industry, using a streaming strategy to establish a chain of dispensaries under its Spiritleaf brand. Inner Spirit has entered into multiple strategic partnerships and investments with various cannabis cultivators and producers to offer a collection of proprietary products under its Spiritleaf brand, including Prairie Flower, Ruby, Stone Selects and Spirit Joints.
Each store will feature a vast selection of products and a welcoming, comforting environment. Inner Spirit will also be distributing High Times magazine throughout Canada in their Spiritleaf dispensaries. Additionally, Inner Spirit will be distributing Tilray Inc. (NASDAQ:TLRY) subsidiary High Park Holdings Ltd.’s products in its Spiritleaf stores and High Park will be contributing $250,000 to Inner Spirit’s Spirit Fund. This came about through a $4.5 million investment and collaborative agreement with Tilray.
In January 2019, Inner Spirit reported that the company made $2.25 million in sales in December 2018, including the $583,597 made in sales by its four Spiritleaf franchise locations and the $1.67 in sales from its WATCH IT! retail operation. In total, Inner Spirit made $996,617 in revenue in December.
In addition to the impressive offerings the Spiritleaf stores will provide for consumers, Inner Spirit will ensure that each staff member is knowledgeable about cannabis products and new developments in the industry. Most importantly, Inner Spirit will ensure that all staff members will be familiar with and adhere to the laws governing the industry.
- First cannabis company to be granted Canadian Franchise Association membership to date.
- 40 branded dispensaries ready to sell cannabis in the provinces of Alberta, British Columbia and Saskatchewan.
- Inner Spirit’s partner Auxly provides access to a wide range of premium quality cannabis producers and products.
- Auxly holds 15 percent equity stake in Inner Spirit franchises and may provide up to 50 percent of franchisees’ annual inventory needs.