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Vaughan, Ontario – (Newsfile Corp. – June 10, 2021) – Spyder Cannabis Inc. (“Spyder” or the “Company”) (TSXV: SPDR), an established Canadian cannabis and vape retailer, is pleased to announce that its wholly owned subsidiary, Spyder Cannabis Subco Inc. (“Spyder Subco”), has received final approval from the Alcohol and Gaming Commission of Ontario (the “AGCO”) to open its cannabis dispensary at 776 Liverpool Rd., Unit 4, Pickering. Ontario, L1W 1S2.

Spyder Subco has successfully completed its pre-store inspection with the ACGO and has now been granted permission to operate its second cannabis dispensary in Ontario under the SPDR Cannabis brand, selling recreational cannabis products and consumer accessories.

Dan Pelchovitz, CEO of Spyder Subco, commented: “We are excited to open our Pickering pharmacy under the SPDR Cannabis brand to provide world class customer service and a wide variety of large format cannabis products for the value seeking customer. We are currently aiming for the opening on June 25, 2021. This dispenser will be our second Ontario retail cannabis store and we will continue to expand our retail presence across Ontario in underserved suburbs in the surrounding GTA. “

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About Spyder Cannabis Inc.

Spyder is an established cannabis and vape retailer that owns and operates two licensed pharmacies under the SPDR Cannabis brand in Ontario and Alberta and the retail vape brands 180 Smoke and Spyder Vapes. 180 Smoke is a leading Canadian omni-channel vape retailer with 26 locations across Ontario and a strong e-commerce presence with over 95,000 registered customers. 180 Smoke and Spyder vapes retail stores sell vape and nicotine-related products, herbal vaporizers and accessories, and other smoking cessation products. Spyder’s vape brands are dedicated to helping adult smokers looking for alternatives to traditional flammable tobacco products.

Warning notices

Neither the TSX Venture Exchange nor its regulator (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Certain statements in this press release contain forward-looking information. These statements relate to future events or future company performance. The use of the words “could,” “intend,” “expect,” “believe,” “will,” “may,” “project,” “estimate,” and similar expressions and statements relating to matters that are not historical facts is intended to identify forward-looking information and is based on the company’s current beliefs or assumptions about the outcome and timing of such future events. Actual future results could differ materially. In particular, this press release contains forward-looking information relating to the successful opening of the Pickering Pharmacy and expanding its retail presence in Ontario. Various assumptions or factors are typically used in order to reach conclusions or make the projections or projections contained in any forward-looking information. These assumptions and factors are based on information currently available to the parties. Key factors and assumptions include that the company’s management has the skills and competencies required to open its Pickering pharmacy, increase the company’s retail presence, regulatory and other approvals and licenses from third parties. Forward-looking information inevitably involves known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. These risks and factors include, but are not limited to, the risk that the company’s management may not be able to open its Pickering pharmacy. The forward-looking information contained in this press release is as of the date of this release and the parties are under no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless otherwise required by applicable regulations required securities laws. Due to the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify all forward-looking information contained herein.

For more information please contact:

Spyder Cannabis Inc.
Cameron Wickham
Deputy Chairman & CEO
T: (905) 330-1602
E: corporate@spydercannabis.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/87175

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