Vaughan, ON -- August 13, 2019 -- InvestorsHub NewsWire -- Spyder Cannabis Inc. (TSXV:SPDR) ("Spyder"), an established Canadian cannabis and vape retail operator, announced today an arrangement through which Spyder will open 5 hemp boutique locations with potential for more at Tanger Outlet centers throughout the United States.
This 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,” stated Daniel Pelchovitz, CEO and President of Spyder. “They offer a superior outlet experience and deep tenant relationships, and we are excited to introduce our hemp retail to their centers.”
These boutiques will stock Spyder’s SPDR (R) branded hemp derived, and infused products developed for an aging, health and wellness demographic. Spyder will offer a wide array of hemp product offerings including; hemp -infused muscle balm, face oil, body lotion and bath salts, as well as hemp tinctures, capsules and sprays.
The hemp industry is booming and has the potential to become a $22 billion business by 2022, according to cannabis-focused research firm Brightfield Group. Spyder plans on executing an aggressive expansion plan to create a significant retail brand in the U.S. hemp market and is committed to developing and acquiring prime North American retail locations and continuing to build its fast growing brand.
About Spyder Cannabis
Founded in 2014 Spyder is an established chain of three high-end vape stores, and two cannabis accessory stores, in Ontario, with locations in Woodbridge, Scarborough, Burlington, Pickering and Niagara Falls. The Spyder brand is defined by its high-quality proprietary line of e-juice, liquids and exclusive retail deals, dispensed in uniquely designed stores creating the optimal customer experience. Spyder is building off this leading retail, distribution and branding eCig and vapes company and is pursuing expansion into the legal cannabis and hemp derived market. Spyder has developed a scalable retail model with plans to create a significant footprint with targeted and disciplined retail distribution strategy focusing on Canadian retail and U.S. boutique retail and kiosks in high traffic peripheral areas
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
For more information, please contact:
Spyder Cannabis Inc.
President & Chief Executive Officer
Contact: Investor Relations
Phone: 1-888-504-SPDR (1-888-504-7737)
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