/NOT FOR DISSEMINATION IN THE U.S. OR THROUGH U.S. NEWSWIRES/
KELOWNA, BC, Aug. 9, 2017 /CNW/ - At the request of the Investment Industry Regulatory Organization of Canada, DOJA Cannabis Company Limited ("DOJA" or the "Company") (CSE: DOJA) is reissuing its press release of August 9, 2017 to expand the financial projections contained in the earlier press release.
DOJA is pleased to announce that effective at the open of the market today, DOJA's common shares will be listed and will commence trading on the Canadian Securities Exchange (the "CSE") under the four-letter ticker symbol "DOJA".
DOJA™ is a premium cannabis lifestyle brand and licensed producer that will feature the highest quality handcrafted strains in Canada. DOJA's state-of-the-art ACMPR licensed production facility is located in the heart of British Columbia's picturesque Okanagan Valley. DOJA was founded by the proven entrepreneurial team that started SAXX Underwear®.
INVESTMENT HIGHLIGHTS AND DIFFERENTIATING FACTORS
First Lifestyle Focused Cannabis Producer – DOJA is the first Licenced Producer to focus exclusively on building a cannabis lifestyle brand.
Proven Brand Builders – CEO Trent Kitsch founded and built SAXX Underwear into the fastest growing premium men's underwear brands in North America; plan to combine expertise in branded consumer packaged goods with authentic passion for cannabis culture to uniquely position DOJA as a market leading lifestyle brand in the cannabis industry.
Grown in the Napa of the North – Kelowna, British Columbia's world class wineries, lakes, orchards, golf courses and ski hills draw 1.9 million visitors annually – DOJA will leverage the tourism to the area to build a far-reaching brand.
Licensed Producer targeting Sales License – DOJA's wholly-owned subsidiary received its license to cultivate under the ACMPR from Health Canada on June 16, 2017. DOJA is currently cultivating its first batches of cannabis and will subsequently apply for a license to sell.
Handcrafted – DOJA will feature a range of curated handcrafted strains ideally suited for Canada's emerging cannabis market.
Scalable Production Facility – DOJA's current state-of-the-art production facility is capable of producing 660 kg/year of dried cannabis and the Company's expansion plans would increase production capacity to 5,000 kg/year which is forecast to generate over $60 million per year in sales. DOJA projects gross margins of 50% - 60% and EBITDA margins of 25% to 35%.
DOJA Culture Cafés – DOJA is opening its first storefront location focused on building brand awareness, providing cannabis information and pre-registering customers. The café will feature premium coffee, branded clothing and accessories that complement the DOJA lifestyle and a cannabis access center.
CLOSING OF THE TRANSACTION
On August 3, 2017, DOJA (formerly named SG Spirit Gold Inc.) announced the closing of its previously announced three-cornered amalgamation with Northern Lights Marijuana Company Limited ("Northern Lights") and NLMCO Acquisition Corp. (the "Transaction"). Immediately prior to the completion of the Transaction, the Company consolidated its issued and outstanding share capital on a three (old) for one (new) basis. Former shareholders of Northern Lights received 1.8 post-consolidation DOJA shares for each Northern Lights share held. The Transaction has received all final approvals, including the final approval of the CSE. The total number of issued and outstanding common shares of DOJA at the start of trading on the CSE is expected to be 58,752,962, expressed on a non-diluted basis.
For further information concerning the Transaction readers are encouraged to review the Company's listing statement that was filed on the SEDAR website at www.sedar.com on August 1, 2017.
ON BEHALF OF THE BOARD OF DIRECTORS
Chief Executive Officer and Chairman of the Board
The DOJA team also encourages readers to visit the website at www.doja.life to learn more about DOJA and to sign up for DOJA news updates.
This news release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company's current expectations. When used in this news release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this news release include information relating to the business plans of DOJA, the forecasted sales and gross margins that could be generated from an expansion of the Company's production facility and the listing and trading of the DOJA shares. Such statements and information reflect the current views of the Company.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
The Canadian Securities Exchange has not passed upon the merits of the Transaction and has not approved nor disapproved the contents of this news release.
SOURCE DOJA Cannabis Company Limited
For further information: please contact Jeff Barber or Trent Kitsch by email at email@example.com or by phone at 250-317-5140.