Market Herald logo


Be the first with the news that moves the market
  • Spyder Cannabis (SPDR) has welcomed a number of developments which will galvanise its cannabis dispensary network
  • The company’s dispensary in Niagara Falls has passed its final inspection, allowing it to prepare for opening
  • Spyder’s dispensary in Calgary has been formally issued a Retail Cannabis Store License, also allowing it to open
  • The company expects that both dispensaries will open for business in August of 2020
  • Spyder Cannabis (SPDR) is up 14.29 per cent and is currently trading at C$0.04 per share

Spyder Cannabis (SPDR) has welcomed a number of developments which will galvanise its cannabis dispensary network.

The cannabis, vape, and CBD retailer operates Canada and the United States, in jurisdictions where such products are federally legal. The company’s structure includes wholly owned associated applicants and subsidiaries, The Green Spyder and Spyder Cannabis Subco.

Spyder Cannabis is developing three retail business units, consisting of cannabis products, hemp CBD, and smoking cessation products. The company is only selling hemp CBD in the United States, and is selling smoking cessation products in the province of Ontario.

Spyder Cannabis’ dispensary network is about to see a lot more business, thanks to two recent developments. 

The company’s cannabis dispensary in Niagara Falls recently passed its final inspection on July 27, 2020. The dispensary can now open for business, and will do so in the first week of August, 2020.

Spyder Cannabis’ dispensary in Calgary, Alberta, has been formally issued a Retail Cannabis Store License and is also scheduled to open for business in August, 2020. 

Spyder Cannabis’ President and CEO, Dan Pelchovitz, welcomed these developments on behalf of the company.

“Both dispensaries are located in busy commercial hubs, in their respective cities.

“The Spyder team is excited to commence operations and bring its best-of-class customer service and retail experience to both cities,” he said. 

Spyder Cannabis (SPDR) is up 14.29 per cent, and trading for 4 cents per share, as of 10:11am EDT.

More From The Market Herald

Scratching the surface of an emerging gold belt in Canada

Westhaven Gold Corp. (TSXV:WHN) is a Canadian exploration company that has four gold projects along the Spences Bridge Gold Belt in B.C.

@ the Bell: Little movement among markets

The TSX stock index kept on the positive side Tuesday as global risk-off sentiments weighed ahead of more economic data later this week.

This stock is ready to capture the lead in the diabetes market

Diabetes specialist Glucotrack (NASDAQ:GCTK) has changed its business strategy to transition to continuous glucose monitoring.

@ the Bell: Markets soften on Cyber Monday

Mounting losses endured by the industrial, energy, and mining sectors pressured Canada’s main stock index to a lower close on Cyber Monday.