Cannabis Stock News: Delota (TSXV: LOTA) Opens First Offside Cannabis Dispensary
Vaughan, Ontario - February 8, 2022 (Newsfile Corp.) (Investorideas.com Newswire) Delota Corp. (TSXV: LOTA) ("Delota" or the "Company") (formerly, Spyder Cannabis Inc.), an established Canadian cannabis and vape retailer, is excited to announce the opening of its first Offside Cannabis dispensary.
"This first Offside Cannabis opening in Niagara Falls' Clifton Hill district is part of our strategy to identify and capitalize on lease opportunities within our 180 Smoke Vape Store portfolio," says Dan Pelchovitz, Chief Executive Officer of Delota's Cannabis Division.
According to Pelchovitz, Delota is expected to organically increase its dispensary footprint to a total of 10 locations in Ontario by fiscal year-end. "We expect to apply for additional Retail Store Authorizations to the Alcohol and Gaming Commission of Ontario (AGCO) for premises in Hamilton, Ottawa and The Blue Mountains within our existing lease portfolio. Additionally, we are also exploring strategic acquisitions to further increase our retail footprint," Pelchovitz says.
"The new Offside Cannabis branding reinforces our overall vision: to build the most popular cannabis retail brands," says Cameron Wickham, Executive Vice Chairman & CEO of Delota. "The Offside Cannabis brand is well positioned to serve the highly-involved and value-conscious cannabis consumer. With this in mind, we are also developing another more experiential and high-variety-focused cannabis retail banner brand catering to the low-involvement target segment, which should be announced in the coming months."
The first Offside Cannabis location officially opened its doors on Friday, February 4, 2022, and is following provincial COVID-19 public health measures around retail re-opening. Consumers can also order online for curbside and in-store pickup.
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About Delota Corp.
Delota is an established cannabis and vape retailer that owns and operates a portfolio of Canadian retail brands well-positioned to capitalize on the evolving cannabis and nicotine retail sectors. Delota's goal is to build the most popular retail cannabis and nicotine brands in Canada by aggressively growing its retail footprint and developing retail banners that resonate with a loyal and growing cannabis and nicotine customer base. Delota's current retail banners include Offside Cannabis, SPDR Cannabis and 180 Smoke.
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:
Executive Vice Chairman & CEO
T: (905) 330-1602
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