One of only four proposals selected to operate cannabis retail stores in Manitoba as part of world's first RFP process for federally legal cannabis retail
TORONTO, Feb. 16, 2018 /CNW/ - Hiku Brands Company Ltd. ("Hiku" or the "Company") (CSE: HIKU), is pleased to announce that its wholly-owned subsidiary, Tokyo Smoke, with participation by BOBHQ, has been conditionally awarded one of four master retail licenses (the "License") in Manitoba's highly competitive Request for Proposal ("RFP") process for the right to operate retail cannabis stores. The License gives Tokyo Smoke the ability to operate legal retail cannabis stores and an online cannabis sales platform in Manitoba. This represents a significant milestone for Hiku and BOBHQ as one of only four successful entities selected in a highly competitive process.
Hiku is excited to bring its award winning retail experience to Manitoba and Manitoba cannabis consumers. The Company commends the leadership shown by the Province of Manitoba in setting up a competitive, privatized cannabis retail system to ensure the responsible management of cannabis distribution and sales within the province ahead of the anticipated adult-use legalization date of Summer 2018.
"We are honoured to be selected as one of four companies to operate retail cannabis stores in Manitoba", said Alan Gertner, CEO of Hiku. "This achievement is a validation of our business model and vision of creating an unsurpassed retail experience for cannabis consumers. It is also a tribute to the hard work and dedication of our team and consultants -- BOBHQ and 4Front Advisors -- who helped us achieve this milestone. We look forward to participating in future licensing processes across the country to grow our national retail footprint and bring our unique retail experience to more Canadians."
"We are thrilled to have been awarded one of four licenses in our home province of Manitoba alongside our valued partners at Hiku", said BOBHQ co-founder Robert Ritchot. "We have the utmost confidence in our ability to provide our community with an industry-leading retail experience, while closely adhering to both Provincial and Federal legislation."
As a retail cannabis organization, Tokyo Smoke will also participate in and contribute to social responsibility programs to provide comprehensive cannabis education to retail cannabis store customers and raise awareness of the social responsibility that comes with adult cannabis use. The Company is fully supportive of the Manitoba government's clear policy initiatives as it relates to cannabis retail, including, social responsibility, education, protecting children and youth and preventing diversion of product to the black market.
Hiku is focused on building a portfolio of iconic, engaging cannabis brands, immersive retail experiences and handcrafted cannabis production. With a national retail footprint led by Tokyo Smoke, craft cannabis production through DOJA's ACMPR licensed grow, and Van der Pop's female-focused educational platforms, Hiku houses an industry-leading portfolio that sets the bar for cannabis brands in Canada.
DOJA Cannabis, Hiku's wholly-owned subsidiary, is a federally licensed producer of craft cannabis pursuant to the Access to Cannabis for Medical Purposes Regulations (the "ACMPR"). DOJA owns and operates two production facilities in the heart of British Columbia's Okanagan Valley. The Company operates a network of retail stores selling coffee, clothing and curated accessories, across British Columbia, Alberta and Ontario.
BOBHQ, a division of Humble & Fume, is a leading North American distributor of smoke shop and counterculture products with many decades of experience. With retail locations in Manitoba and distribution facilities in Canada and across the U.S., the company is able to efficiently distribute over 10,000 different products to thousands of customers throughout North America and abroad.
Regarding Forward-Looking Information
This news release contains statements that constitute "forward-looking statements". Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Hiku's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.
Forward-looking statements in this document include the Company's expectation that adult-use legalization of cannabis will occur in the of Summer 2018. By their nature, forward-looking statements are based on the opinions and estimates of management at the date the information is made, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Hiku is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
The Canadian Securities Exchange has not approved nor disapproved the contents of this news release.
SOURCE Hiku Brands Company Ltd.
For further information: Abigail Van Den Broek, [email protected], 416-799-8510 or visit HIKU's website at www.hiku.com.