Cannabis Stock News: Spyder Cannabis (TSXV: SPDR) Unveils New Dispensary Branding: Offside Cannabis
Vaughan, Ontario - October 14, 2021 (Newsfile Corp.) (Investorideas.com Newswire) Spyder Cannabis Inc. (TSXV: SPDR) ("Spyder" or the "Company"), an established Canadian cannabis and vape retailer, is excited to announce the launch of its new retail dispensary brand, Offside Cannabis, dedicated to providing cannabis consumers with affordable prices and high-quality customer service. The brand will carry a tailored cannabis product assortment that will be appealing and relevant to the value-conscious demographic. In addition, Offside Cannabis will offer exclusive deals and unique benefits to its patrons.
"The new Offside Cannabis branding and messaging reinforces SPDR Cannabis' history of delivering a customer centric operations strategy, and emphasizes on providing customers with good value at a reasonable price point," says Christina Pan, Chief Operating Officer of Spyder, noting that the Company has two operating cannabis dispensaries under the SPDR Cannabis banner, which the new brand will be replacing.
"Value doesn't have to be boring, and this new design is positioned to combine our fun culture with the value we're offering," Ms. Pan adds, noting that the interior aesthetic of the store features bright colours and edgy designs.
"We recognize the importance and growth of the value-focused customer segment, our new Offside Cannabis brand was designed to specifically service this group of individuals. Furthermore, our business model focuses on serving big-city-adjacent communities, rather than upper, mid, or downtown core consumers," she adds. "We're 'off-to-the-side' of those markets, as well as the industry as a whole."
"This brand launch is part of our strategy to grow into new and emerging markets," says Dan Pelchovitz, Chief Executive Officer of Spyder's Cannabis Division. "We expect to apply for three additional Retail Store Authorizations in Hamilton, Ottawa and The Blue Mountains for premises within our existing lease portfolio. This would increase our dispensary footprint to a total of seven locations in Ontario, which should be well underway before the end of the year."
In order to accelerate Spyder's growth and dispensary footprint, the Company is examining additional opportunities to convert other 180 Smoke Vape Store locations to dispensaries to leverage 180 Smoke's current customer base of over 230,000 registered accounts.
The first two Offside Cannabis dispensary locations are expected to roll out in Niagara Falls, located at 6474 Lundy's Lane and 5719 Victoria Avenue, respectively.
About Spyder Cannabis Inc.
Spyder is an established cannabis and vape retailer that owns and operates two licensed dispensaries under the brand SPDR Cannabis in Ontario and 28 vape retail locations across Ontario under the retail brands 180 Smoke and Spyder Vapes. 180 Smoke is a leading omni-channel Canadian vape retailer with a strong e-commerce presence and over 230,000 registered customers across its B2C channel.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance of the Company. The use of any of the words "could", "intend", "expect", "believe", "will", "may", "projected", "estimated" and similar expressions, and negatives thereto, and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the parties. Forward-looking information necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. The forward-looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
Neither the TSX Venture Exchange ("TSXV") nor its Regulation Services Provider (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:
Spyder Cannabis Inc.
Executive Vice-Chair and Chief Executive Officer
T: (905) 330-1602
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