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Spyder Cannabis Inc. (TSXV: SPDR) (the "Company"), an established Canadian cannabis and vape retailer, is pleased to announce that it has changed its name to "Delota Corp." (the "Name Change"). In connection with the Name Change, the Company will trade under the ticker symbol "LOTA".
The Company expects that its common shares will begin trading on the TSX Venture Exchange (the "TSXV") 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," stated Cameron Wickham, Executive Vice Chairman and Chief Executive Officer of Delota Corp. "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."
The new ISIN for the Company's common shares is CA24713H1001 and the CUSIP is 24713H100.
About Delota Corp.
Delota Corp. (formerly, Spyder Cannabis Inc.) 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.
Cautionary Statements
This press release contains "forward-looking statements or information". Forward-looking statements can be identified by words such as: anticipate, intend, plan, goal, seek, believe, project, estimate, expect, strategy, future, likely, may, should, will and similar references to future periods. Examples of forward-looking statements in this press release include, among others, the anticipated date that the common shares will trade under the Company's new name and trading symbol and statements we make regarding information about future plans, expectations and objectives of the Company overall, including the Company venturing into other like-minded, high-growth sectors, growing their retail footprint and the Company launching their new Offside Cannabis dispensary brand.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. The Company may not actually achieve its plans, projections, or expectations. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: the Company not venturing into other like-minded, high-growth sectors, being unable to grow their retail footprint and being unable to launch their new Offside Cannabis dispensary brand, the adequacy of our cash flow and earnings, the availability of future financing and/or credit, developments and changes in laws and regulations, the impact of Covid-19 or other viruses and diseases on the Company's ability to operate, consumer sentiment towards the Company's products, failure of counterparties to perform their contractual obligations, government regulations, competition, loss of key employees and consultants, and general economic, market or business conditions, the impact of technology and social changes on the products and industry, as well as those risk factors discussed or referred to in disclosure documents filed by the Company with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. Given these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements.
Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. Except as required by applicable securities laws, we undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
The TSXV has neither approved nor disapproved the contents of this news release. Neither the TSXV nor its Market Regulator (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Delota Corp.
Cameron Wickham
Executive Vice Chairman and Chief Executive Officer
T: (905) 330-1602
E: info@delota.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/104207
