Spyder Cannabis Inc.: Spyder Cannabis to Acquire a Leading Vape Retailer 180 Smoke
Spyder or the
Company ), an established Canadian cannabis and vape retailer, is pleased to announce that the Company has entered into a binding agreement with CRHC Holdings Corp. (the
Seller ) to acquire all of the issued and outstanding shares of the entities that collectively comprise the business of 180 Smoke (
180 Smoke ), a dominant vape retailer in Canada. The Company has agreed to purchase the shares of 180 Smoke (the
Acquisition ), on a cash-free basis (after post-closing adjustments), for nominal consideration. Additionally, the Company has secured a strategic institutional investor to acquire all of the existing debt of 180 Smoke owing to an affiliate of the Seller. The parties will proceed to close the Acquisition upon satisfaction of the closing conditions.
Spyder Cannabis Inc.: Spyder Cannabis Provides Update on Cannabis Dispensary Application in Pickering
Spyder or the
Company ), an established Canadian cannabis and vape retailer, is pleased to announce that its wholly-owned subsidiary, Spyder Cannabis Subco Inc. (
Spyder Subco ), has received notice from the City of Pickering regarding an initial inspection of the Company s proposed cannabis dispensary located at 776 Liverpool Rd., Unit 4, Pickering, Ontario, L1W 1S2. Spyder Subco has a
Retail Operator License issued by the Alcohol and Gaming Commission of Ontario (the
AGCO ) and currently operates a cannabis dispensary in Niagara Falls, Ontario.
In anticipation of the city s approval of the sale of cannabis in Pickering, the Company secured a retail premises and began to build out the location in 2019. The inspection is scheduled to take place during the week of February 16, 2021. Subject to passing the inspection, and making any necessary modifications, Spyder Subco wi
Spyder Cannabis Inc.: Spyder Cannabis Secures $182,000 Replacement Loan
Spyder Cannabis or the
Company ), an established Canadian cannabis and vape retailer, is pleased to announce that it has entered into a loan agreement (the
Loan Agreement ) with an independent third party (the
Lender ) pursuant to which the Company has secured a loan in the amount of up to $182,000 (the
New Loan ). The New Loan replaces a former loan in the amount of $176,444, which was repaid by the Company during the current fiscal quarter. Amid a challenging capital market environment, we are extremely pleased to have this opportunity to build a strategic partnership with a partner that believes in Spyder Cannabis and our future, as we continue to work towards delivering added value to our shareholders, said Dan Pelchovitz, President & Chief Executive Officer.