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KELOWNA, BC, Nov. 2, 2017 /CNW/ - DOJA Cannabis Company Limited ("DOJA" or the "Company") (CSE: DOJA) is pleased to announce that its wholly-owned subsidiary, a licensed cannabis producer under the Access to Cannabis for Medical Purposes Regulations (the "ACMPR"), successfully completed its initial cannabis harvests and has requested a Pre-Sales License Inspection from Health Canada. The Pre-Sales License Inspection is the last step prior to the issuance of a Sales License under the ACMPR.
Trent Kitsch, CEO of DOJA, commented: "I'm extremely proud of our cultivation team, they have delivered on all levels, the quality of our flower is impressive and the yields exceeded our expectations. Our growers focus on bringing out the fullest expression of the plant's genetic potential and the love and hard work they have put into their craft really shows in our first four strains. Post-harvest, our flowers were expertly hand-trimmed, hang-dried and artisanally cured. Our handcrafted approach is aimed at producing the finest cannabis with exceptional aroma, flavor and effects."
"Requesting our Pre-Sales License Inspection from Health Canada is another major milestone for DOJA. There are currently only 26 independent companies with cannabis sales licenses under the ACMPR in Canada. Once licensed, DOJA can begin selling cannabis and position itself as a premium handcrafted producer in advance of the impending recreational market."
THE FUTURE LAB UPDATE
DOJA is also pleased to report that it has closed its previously announced acquisition of a 22,580 square foot commercial building in Kelowna, British Columbia (the "FUTURE LAB"). DOJA plans to move forward with building-out a state-of-the-art extraction facility and apply for an oil production license at the FUTURE LAB. The Company plans to build-out the FUTURE LAB in a phased approach, once fully completed, the facility is projected to produce approximately 4,500 kg per year, pushing total corporate production capacity to over 5,000 kg per year, representing a 760% increase in production over the existing production facility.
DOJA™ is a premium cannabis lifestyle brand featuring the highest quality handcrafted strains in Canada. DOJA's wholly owned subsidiary is a licensed producer of cannabis under the ACMPR. 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®.
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.
You can also follow us @doja.lifestyle on Instagram.
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 includes information relating to the DOJA's intention to build-out the FUTURE LAB and matters pertaining to the build-out of that facility, including with respect to the planned extraction lab and our phased approach to the build-out and our expectations concerning the cannabis production capacity that DOJA will have available to it upon completion of the build-out of the FUTURE LAB. Such statements and information reflect the current views and expectations 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. Such factors include, among others, the following risks:
- there is no assurance that DOJA will obtain the requisite approvals from Health Canada;
- new laws or regulations could adversely impact DOJA's business plans, including with respect to the build-out of the FUTURE LAB and the planned extraction lab; and
- the build-out of the FUTURE LAB may not proceed on schedule or as planned.
DOJA cautions that the foregoing list of material factors is not exhaustive. When relying on the DOJA's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. DOJA has assumed that the material factors referred to in the previous paragraphs will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
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 approved nor disapproved the contents of this news release.
SOURCE DOJA Cannabis Company Limited
For further information: please contact Jeff Barber, Chief Financial Officer by email at email@example.com or by phone at 1-(877) 763-DOJA extension 101.