Post Views: 134
Inner Spirit Holdings Ltd (OTCMKTS:INSHF) reported $26.8 million (up 244% YoY) in revenues in 2020.
Its royalty revenues and system-wide retail sales are $4.2 million (up 217% YoY) and $105.3 million (up 258% YoY) in 2020. Inner Spirit reported an increase of 174% YoY to $9.2 million in sales.
CEO of InnerSpirit, Darren Bondar, said the company reported stellar growth in 2020. It is on the backdrop of operating efficiently and managing the costs.
Developments in 2021
Inner Spirit amended its bought deal offering, which is announced earlier. The underwriters such as Acumen Capital Partners, Cantor Fitzgerald Canada Corporation, and Echelon Wealth Partners Inc, agreed to enhance offering size.
As per the amended offering, the size will increase to 35.72 million units each at CAD 0.28 to generate CAD 10.001 million. The underwriters also have an option to purchase another 15% of the units at the same price.
Inner Spirit expanded Spiritleaf retail cannabis stores network across Canada in key markets.
The company inaugurated 30 franchise/ corporate retail stores under the Spiritleaf brand in Ontario, Saskatchewan, Alberta, British Columbia, Labrador, and Newfoundland.
Inner Spirit recently inaugurated a franchised store in Owen Sound,