an established chain of high-end vape stores
Aggressive expansion plan is already in place that will focus on Canadian retail and US Hemp derived kiosks in high traffic areas
BREAKING: Spyder Cannabis Enters into MOU with HighBreed Growth Corp. for a Proposed Reverse Takeover Transaction
- Signed a Memorandum of Understanding with HighBreed Growth Corp.
- HBGC and Spyder Cannabis would be willing to complete a transaction that will result in a reverse take-over of Spyder Cannabis by HBGC
- HighBreed Growth Ltd., is building a cannabis cultivation greenhouses facilities in Israel with a total planned size of 500,000 square feet.
WHY SPYDER CANNABIS?
- Developed a scalable retail model with aggressive expansion plan to create a significant retail footprint and establishing strategic partners as a top priority
- Targeted and disciplined retail distribution strategy focusing on high quality, high traffic peripheral areas
- Focused strategy aimed at vertical, horizontal and geographic diversification with demonstrated operations expertise and proven retail roll-out
- Opened two additional stores in July for a total of 5 locations (11 by end of year)
- Signed its first hemp agreement for the supply of full spectrum products to support Spyder's debut of a hemp infused product line to be sold across the U.S. under its SPDR(R) brand
- Received approval of development permit for a flagship cannabis retail location in the heart of Calgary
Signed Retail Agreement with Tanger Outlet, Gaining Access to Millions of Consumers Coast-to-Coast in the U.S.
- Announced an arrangement through which Spyder will open 5 hemp boutique locations with potential for more at Tanger Outlet centers throughout the United States
- Agreement will expand Spyder's physical footprint to a projected 11 total locations by the end of this year, with the potential for additional locations in the future
- Tanger Outlet operates 39 upscale outlet shopping centers located in 20 states coast to coast and will allow us access to millions of consumers
The Lundys Lane Location, two other retail locations that Spyder operates in Burlington and Calgary and a location that it intends to open in Guelph, subject to negotiating satisfactory terms with the landlord, will all be converted into cannabis retail stores as part of the Company's "Cannabis Turn-Key Strategy".
Under phase one of the Turn-Key Strategy
- Spyder intends to operate a number of retail locations that will, in contrast to a number of its competitors, generate revenue by operating as retailers of a variety of non-cannabis products.
Under phase two of the Turn-Key Strategy
- Spyder will, subject to the receipt of cannabis retail licences from the Alcohol and Gaming Commission of Ontario and the Alberta Gaming, Liquor and Cannabis Commission, convert these retailers into cannabis stores at the earliest possible opportunity.
- The Company believes this strategy will allow it to generate stable revenue streams during the interim period before the stores receive a retail cannabis licence, and will allow the Company to swiftly pivot into the sale of cannabis products once appropriate licences have been received.
Established Product Portfolio
Spyder Cannabis signed an exclusive agreement with Tetra Natural Health, a subsidiary of Tetra Bio-Pharma, to distribute the three flavors of its Hemp Energy Drink in cannabis accessory stores, vape stores, and kiosks in Canada and the United States.
Hemp-Derived Market Opportunity