Spyder has two current Development Permits in Calgary, Alberta to build cannabis retail stores and has received the building permit for one of the two locations. The second building permit has been submitted and awaiting approval.
Two weeks ago the government of Ontario announced it will abandon the current lottery system for cannabis retail and move towards an open licensing system beginning January 6, 2020. Store authorizations will be issued starting in April, at the rate of 20 per month. Spyder will be submitting applications on January 6, 2020 for some of the stores currently operating. These stores are already built out and Spyder does not expect major renovations will be required to conform to the Ontario specifications for licenced stores.
Spyder is currently pursuing other locations in Ontario for aggressive expansion of its scalable retail platform.
The Company’s common shares will resume trading on the TSXV at market open on December 24, 2019
For more information, please contact:
corporate@spydercannabis.com
https://www.newsfilecorp.com/release/51039” data-reactid=”36″>To view the source version of this press release, please visit https://www.newsfilecorp.com/release/51039
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