CALGARY, Sept. 13, 2018 /CNW/ - Inner Spirit Holdings Ltd. ("Inner Spirit" or "the Company") (CSE:ISH), a specialty retailer and franchisor establishing recreational cannabis dispensaries across Canada under the Spiritleaf brand, today announced that it has made a strategic investment in High Times Holdings Corp. ("High Times"), acquiring 10,000 shares of High Times for $110,000USD. The investment is part of High Times' crowdfunding campaign in anticipation of its planned NASDAQ listing later this year. In connection with the investment, Inner Spirit has been granted the right to, among other things, distribute High Times magazine in Spiritleaf stores across Canada.
In addition, as part of the transaction with High Times, Inner Spirit and Spiritleaf customers, as well as other stakeholders, will have the opportunity to share in lifetime Super VIP access to all future and expanding High Times' Cannabis Cup festivals around the world. The Limited-Edition Cannabis Cup Investor Trophy and other collectable items, including a copy of the legendary inaugural High Times issue, will be displayed at the Inner Spirit head office and Spiritleaf stores across Canada.
High Times has been the original voice in cannabis since 1974. Founded by Thomas King Forçade, a notorious maverick in the cannabis space, High Times started as a counter-culture magazine. For the past 44 years, High Times has been the world's leading source for daily cannabis news, weed information, and cannabis culture. "Inner Spirit is honoured to support High Times and have issues of the iconic magazine available for sale in Spiritleaf stores," said Darren Bondar, President & CEO. "We remain very committed to ensuring the Spiritleaf brand is authentic to the cannabis community and we can't think of a better way to do that than through a collaboration with High Times."
Adam Levin, CEO of High Times added, "Canadians have been loyal High Times readers and fans since our inception. We are delighted to partner with Inner Spirit and Spiritleaf where, in addition to making the latest issues available to existing and new readers, they will be providing Canadians with a view of the history of the stars, politicians, athletes, and other famous and influential figures that have graced our covers as part of the High Times brand and history."
About High Times:
For more than 40 years, High Times has been the authoritative voice of authentic cannabis culture, leading the fight for legalization and empowering the burgeoning industry's legal entrepreneurs. High Times content spans digital, social, video and print platforms as well as location-based events highlighted by the Cannabis Cup global franchise and the High Times Business Summit conference series. Visit us at HighTimes.com, and follow @HIGH_TIMES_Mag on Twitter, @hightimesmagazine on Instagram or like us on Facebook at: https://www.facebook.com/HIGHTIMESMag/
About Inner Spirit
Inner Spirit is establishing a chain of recreational cannabis dispensaries under its Spiritleaf brand. Supporting local entrepreneurs by applying its award-winning franchise and retail models, Inner Spirit has more than 100 franchise agreements in place for potential Spiritleaf locations and will also operate corporate dispensaries in certain jurisdictions. Developing a diverse portfolio of quality and curated lifestyle cannabis products - including Spiritleaf's own locally sourced lines – Inner Spirit's Spiritleaf brand is positioned to be an iconic Canadian brand and the most trusted source for recreational cannabis. More information can be found on Inner Spirit's website at www.innerspiritholdings.com.
This press release contains statements and information that, to the extent that they are not historical fact, may constitute "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives or economic performance, or the assumption underlying any of the foregoing. In some cases, forward-looking statements can be identified by terms such as "may", "would", "could", "will", "likely", "expect", "anticipate", "believe", "intend", "plan", "forecast", "project", "estimate", "outlook", "potential" or the negative thereof or other similar expressions concerning matters that are not historical facts. Examples of such statements include, but are not limited to, statements with respect to the objectives and business plans of the Company; information concerning the proposed completion of the transactions referenced herein and the performance of the parties, and any benefits which may accrue to Inner Spirit, under the transactions referenced herein; the legalization of cannabis for recreational use in Canada, including federal and provincial regulations pertaining thereto and the timing related thereof and the Company's intention to participate in such market, if and when legalized; the competitive conditions of the industries in which the Company operates; and laws and any amendments thereto applicable to the Company.
Forward‐looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Inner Spirit, its subsidiaries, or its affiliates to be materially different from any future results, performance or achievements expressed or implied by the forward‐looking statements. Although Inner Spirit has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors and assumptions that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in or entering into relationships with entities that are engaged in activities currently considered illegal under United States federal law; changes in laws; limited operating history; reliance on management; requirements for additional financing; competition; and regulatory or political change. Additional risk factors are disclosed in Inner Spirit's prospectus dated July 20, 2018.
SOURCE Inner Spirit Holdings
For further information: Investor Enquiries: (403) 930-9300, firstname.lastname@example.org, www.innerspiritholdings.com