Media

Atlantic Cultivation Inc. is proud to launch its new retail brand, Atlantic Cannabis, with a new look and quality products that customers have come to know and love. The establishment of the Atlantic Cannabis retail brand strengthens the company’s role as the province’s leading homegrown retailer and producer.

“The retail locations customers knew as Spiritleaf in Newfoundland and Labrador have temporarily closed to the public as of this morning,” said Alex Twells, CEO of parent company Atlantic Cultivation. “This retail closure will be short, and we look forward to welcoming customers back to a new and different retail experience at Atlantic Cannabis locations on Wednesday morning. This move puts us in a position to be more locally focused.”

The closure of stores on Topsail Road, in Goulds, Galway, Grand Falls-Windsor and Gander for a couple of days gives Atlantic Cannabis time to prepare the new stores, products and systems, and to officially launch the Atlantic Cannabis brand.

“Atlantic Cannabis is your homegrown provider,” said Founder and COO Chris Crosbie. “In just a couple of days, consumers will be able to head back to our convenient locations to find and buy the products they want from friendly, familiar faces. We think customers are going to like what they see, and we’re really pleased to emphasize the unique connection to the province.”

Atlantic Cannabis’ establishment of its own independently branded retail sales network allows more independence, local focus, and connection to the communities in which it is proud to operate. The retailer’s knowledgeable, fun and friendly team is eager to welcome customers to the new experience, and help them choose their favourite quality products. Atlantic Cannabis, as a retailer, will continue to provide products from a variety of producers; in the near future it will be adding its own locally grown and cultivated product to its line.

“The evolution of the industry and our business is allowing us to be local leaders,” said Twells. “Hopefully, this move puts us even further along the path to being national leaders in both retail and production. It is an exciting time for the industry, and for the Atlantic team.”

For more information, contact:
Tammy Power, Atlantic Cultivation
tpower@atlanticcultivation.com
709 702 6596

Backgrounder

Industry Highlights
The legally regulated cannabis industry in Canada came into being on October 17, 2018. In the ensuing three years, there has been significant growth in both production and retail sales across Canada; July sales as reported by StatCan hit a one-month record of $339 million. In Newfoundland and Labrador, retail cannabis sales from January-March 2021 were $14.2 million. For fiscal year 2020-21 sales grew 35.7% to $52.1 million.

Company Information & Milestones
Atlantic Cultivation has been on the leading edge of the industry in Newfoundland and Labrador as one of the first locally owned and operated business involved in both the production and retail sales of cannabis products. Key accomplishments include the construction of a $29 million, 110,000 square foot production facility that harvested its first cannabis in October 2021, and establishment of 5 retail locations: Topsail Road, Goulds, Galway, Grand Falls-Windsor and Gander. A Corner Brook location will open on November 6, and a seventh location is expected on Water Street before the end of the year. Until November 1, 2021, the retail locations were operating as SpiritLeaf branded stores but will now undergo renovations to reflect the new Atlantic Cannabis brand, with new and more locally focused products. Additionally, Atlantic Cultivation has licenses for other areas that will open next year. Atlantic employs 80 people across the province.

Chronology of Key Events:

• October 17, 2018 – legalization of cannabis in Canada
• October 22, 2018 – Atlantic Cultivation becomes a local leader in cultivation and retail in Newfoundland and Labrador
• September 4, 2019 – Government of Newfoundland and Labrador continues to position the province as a leader in Canada’s cannabis industry in conjunction with Atlantic Cultivation.
• April 1, 2020 – Atlantic Cultivation signs franchise agreement to operate Spiritleaf retail locations in Newfoundland and Labrador
• June 20, 2020 – First Spiritleaf location opens
• May 2021 – Atlantic Cultivation in production mode in its own 110,000 square foot facility
• October 2021 – First harvest by Atlantic Cultivation for partner products
• November 1, 2021 – Atlantic Cultivation, operating as a retailer as Atlantic Cannabis, moves to create a locally owned and controlled retail network in Newfoundland and Labrador.