CSE:ISH Inner Spirit Holdings Corporate Presentation February 2020
LEGAL DISCLAIMER The information provided herein is not intended to provide financial, tax, legal or accounting advice. This Corporate Presentation and the contents herein do not constitute or form part of any advertisement, any offer to sell or any solicitation of an offer to buy or subscribe for securities of Inner Spirit Holdings Ltd. (the “Company” of “Inner Spirit” or “ISH”) or represent an intention to induce any person to make an investment in the Company or to assist any person in the making of an investment decision. This Corporate Presentation and the contents herein shall not form the basis of or be relied on in connection with, or act as any inducement to enter into, any contract or commitment whatsoever.This Corporate Presentation includes statistical information that the Company has obtained from independent industry publications, government publications, market research reports and other published independent sources. Such publications and reports generally state that the information contained therein has been obtained from sources believed to be reliable. Although the Company believes these publications and reports to be reliable, it has not independently verified any of the data or other statistical information contained therein, nor has it ascertained or validated the underlying economic or other assumptions relied upon by these sources. The Company has no intention and undertakes no obligation to update or revise any such information or data, whether as a result of new information, future events or otherwise, except as, and to the extent required by applicable securities laws. FORWARD LOOKING INFORMATION This Corporate Presentation contains “forward-looking statements” and “forward-looking information” (collectively, “forward-looking information”) within the meaning of applicable securities legislation. Forward- looking information in this Corporate Presentation include, but are not limited to, statements or information with respect to: the Company’s intended strategy; the Company’s ability to execute its strategy and ensure success; the expected legalization of recreational cannabis; market expectations; intended products, delivery systems and partnerships; and other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Actual results, performance or achievement could differ materially from that expressed in, or implied by, any forward-looking information in this Corporate Presentation, and, accordingly, readers of this Corporate Presentation should not place undue reliance on any such forward-looking information. Forward-looking information involves significant risks, assumptions, uncertainties and other factors that may cause actual future results or anticipated events to differ materially from those expressed or implied in any forward-looking statements and accordingly, should not be read as guarantees of future performance or results. Forward-looking information involves numerous risks and uncertainties including, but not limited to, the ability of management to execute its business strategy, objectives and plans; that the Company will have sufficient capital to fund its business plans; general economic and business conditions; changes to laws, regulations, rules, rulings, policies, procedures and other instruments applicable to the Company and its business; the risk of disruptions to the Company’s supply chain; risks associated with the Company’s reliance on key personnel; and changing consumer sentiments. Forward-looking information contained in this Corporate Presentation is based on the Company’s current estimates, expectations and projections, which the Company believes are reasonable as of the current date. The Company can give no assurance that these estimates, expectations and projections will prove to have been correct. Historical statements should not be taken as a representation that such trends will be replicated in the future. No statement in this Corporate Presentation is intended to be nor may be construed as a profit forecast. NON-IFRS FINANCIAL MEASURES This Corporation Presentation makes reference to "system-wide retail sales", a financial measure that is not determined or defined in accordance with International Financial Reporting Standards ("IFRS"). Such non-IFRS financial measure does not have a standardized meaning prescribed by IFRS and Inner Spirit's methods of calculating this financial measure may differ from methods used by other companies. Accordingly, "system- wide retail sales" may not be comparable to similarly titled measures presented by other companies. System-wide retail sales, as presented in this Corporate Presentation, represents the sum of the revenue reported to the Company by franchisees of Spiritleaf-branded retail cannabis stores and by Company-owned Spiritleaf-branded retail cannabis stores. This measure is useful to management and the investment community in evaluating brand scale and market penetration, and is used by management of Inner Spirit to assess the financial and operational performance of the Company and the strength of the Company's market position relative to its competitors. This measure is provided as additional information to complement IFRS and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. FUTURE-ORIENTED FINANCIAL INFORMATION This Corporate Presentation also contains future-oriented financial information and financial outlook information (collectively, “FOFI”) including, but not limited to, prospective annual revenue, prospective net profit, prospective system wide sales, and components thereof, all of which are subject to the same assumptions, risk factors, limitations, and qualifications as set forth in the above paragraphs. FOFI contained in this Corporate Presentation was made as of the date of this Corporate Presentation and was provided for the purpose of providing information about management’s current expectations and plans relating to the future, and for certain illustrative purposes. The Company disclaims any intention or obligation to update or revise any forward looking statements or FOFI contained in this Corporate Presentation, whether as a result of new information, future events or otherwise, unless required pursuant to applicable securities law. Readers are cautioned that the forward-looking information and FOFI contained in this Corporate Presentation should not be used for purposes other than for which it is disclosed herein. The forward-looking statements and FOFI contained in this Corporate Presentation are expressly qualified by this cautionary statement. THIS CORPORATE PRESENTATION MAY NOT BE REPRODUCED, FURTHER DISTRIBUTED OR PUBLISHED IN WHOLE OR IN PART WITHOUT WRITTEN PERMISSION FROM THE COMPANY. F E B R U A R Y 2 0 2 0 | 0 2
The start of something incredible. Inner Spirit Holdings Ltd. is applying a successful franchise and corporate retail model to the recreational cannabis industry. With 44 stores currently operating and a group of more than 100 franchise partners, select corporate retail locations, and a proprietary brand portfolio under development, Inner Spirit is positioned as Canada's industry leader. F E B R U A R Y 2 0 2 0 | 0 3
Investment Highlights Canada's leading retailer in the Low-cost and highly scalable franchising Highly experienced team and proven recreational cannabis market. The model to maximize ROI – more than 100 model with significant expertise in the Canadian adult use market is currently franchise locations either in operation or cannabis, branding, consumer retail, worth up to $5.0B and is projected to grow being developed in jurisdictions where real estate and franchising industries. to $7.0B by 2022. permitted in Canada. Franchise system Team is entirely focused on growing is being supported by corporate-owned Spiritleaf cannabis retail store network. stores in select markets. Proven ability to license, open and Strategic partnerships and Proprietary house brands and a operate cannabis store locations in collaborations with premium producers customer “rewards” program called The efficient manner. 44 stores located to create a fully integrated business Collective are being launched to offer in AB, SK, BC and ON with plans for model. consumers premium product options additional stores in these key markets in and a market-leading retail experience. 2020. F E B R U A R Y 2 0 2 0 | 0 4
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