Spyder Cannabis Inc. Introduces New Brand, Offside Cannabis

Oct 14, 2021 By MarketDepth

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Spyder Cannabis Inc. (TSXV: SPDR) unveiled its new dispensary brand today, Offside Cannabis. The new brand’s goal is to differentiate itself as an outlier from other dispensaries, offering its customers “affordable prices and high-quality customer service,” while also being focused on community building.

Share Price Drop

Shares of Spyder Cannabis dropped 13% in early morning trading. 

“The new Offside Cannabis branding and messaging reinforces SPDR Cannabis’ history of delivering a customer centric operations strategy, and emphasizes on providing customers with good value at a reasonable price point. We’re Offside, which means we’re on your side.”

Christina Pan, Chief Operating Officer of Spyder

Offside Cannabis will open its first two dispensary locations in Niagara Falls. “This brand launch is part of our strategy to grow into new and emerging markets,” says Dan Pelchovitz, Chief Executive Officer of Spyder’s Cannabis Division. “We expect to apply for three additional Retail Store Authorizations in Hamilton, Ottawa and The Blue Mountains for premises within our existing lease portfolio. This would increase our dispensary footprint to a total of seven locations in Ontario, which should be well underway before the end of the year.”