Spyder Cannabis Continues US Expansion through Specialty License Agreement in Florida with Palm Beach Outlets

Vaughan, Ontario--(Newsfile Corp. - September 5, 2019) - Spyder Cannabis Inc. ("Spyder"), an established Canadian cannabis supply and vape retailer, announced today an arrangement through which Spyder will open boutique retail locations in Palm Beach Outlets.

Located just off the I-95, on Palm Beach Lakes Blvd in West Palm Beach, this location will expand Spyder's physical footprint to a projected 12 total locations by the end of this year, with the potential for additional locations in the future. Spyder will offer first-class retail sale of products of the highest quality and as permitted by the governing laws of the State of Florida. Products will be limited to oils, lotions, bath products and candies.

"Palm Beach outlets is one of the highest traffic outlet malls in Florida, has received many retail awards and has 100 + brand stores with Whole Foods as an anchor tenant," stated Daniel Pelchovitz, CEO and President of Spyder. "This move is part of Spyder's strategic plan to develop a robust, planned network of boutique retail stores and kiosks across the US focused on the specific health and wellness aging and athletics sectors."

Spyder intends on partnering with a variety of developers and realtors to sign lease agreements for prime real estate in strategically located in high traffic areas of malls, near senior living centres, and sporting venues throughout the U.S. starting in Florida, California, New York and Michigan state. These boutiques will stock Spyder's SPDR (R) branded and infused products developed for an aging, health and wellness demographic. Spyder will offer a wide array of product offerings including; muscle balm, face oil, body lotion and bath salts, as well as wellness tinctures, capsules and sprays.

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.
Dan Pelchovitz
President & Chief Executive Officer
Contact: Investor Relations
Phone: 1-888-504-SPDR (1-888-504-7737)
Email: corporate@spydercannabis.com

Bullseye Corporate
Crystal Quast
Bullseye Corporate
quast@bullseyecorporate.com

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/47560

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