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Supply Will Be Grown by Hiku's DOJA facility in Kelowna, B.C.
TORONTO, July 12, 2018 /CNW/ - Hiku Brands Company Ltd. (CSE: HIKU) ("Hiku" or the "Company") has completed a supply agreement with the British Columbia Liquor Distribution Branch (BCLDB) to supply cannabis for the adult use market once legalization takes place in October, 2018.
"At DOJA, we believe that we cultivate exceptional hand-crafted cannabis to help people find their balance and actualize personal freedom. We are committed to minimizing our impact on nature with an eye towards natural, sustainable and innovative growing principles. We are West Coast Contemporaries" said Trent Kitsch, President of Hiku and Co-Founder of DOJA, whose roots go back three generations in Kelowna.
Grown in one of Canada's premier wine regions, Hiku's Okanagan Valley cannabis brand is truly inspired by nature from the ground up. DOJA is focused on producing top-quality, indoor grown cannabis to serve the adult market in Canada. Management believes its small capacity and craft cannabis production will find a premium place with Canada's active and healthy lifestyle communities.
"The execution of this agreement is a great milestone for us at Hiku as British Columbia has long been home to a robust cannabis community, and home to our DOJA grow facility. We are very excited to be able to offer our products to such a great market" said Alan Gertner, Chief Executive Officer of Hiku.
This agreement is in addition to a previously announced supply agreement in Manitoba and in addition to Tokyo Smoke, Hiku's award winning retail brand, being granted one of only four master licenses in that province. Hiku has also applied to open storefronts in other jurisdictions across Canada.
Hiku is focused on building a portfolio of engaging cannabis brands, unsurpassed retail experiences and handcrafted cannabis production. With a national retail footprint led by Tokyo Smoke, craft cannabis production through DOJA's ACMPR licensed grow, Van der Pop's female-focused educational platforms, and Maïtri, Hiku's Quebec based cannabis brand featuring high quality handmade accessories, Hiku houses an industry-leading portfolio that aims to set the bar for cannabis brands in Canada.
Hiku's wholly-owned subsidiary, DOJA Cannabis Ltd., is federally licensed to cultivate and sell cannabis pursuant to the ACMPR, owning two production facilities in the heart of British Columbia's Okanagan Valley. Hiku's subsidiary, TS Brandco Holdings Inc. ("Tokyo Smoke"), has been conditionally awarded one of four master retail licenses in Manitoba. Hiku also operates a network of retail stores selling coffee, clothing and curated accessories, across British Columbia, Alberta and Ontario.
Forward Looking Statements
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 press release include, among others, Hiku's future sales and growth prospectus and final government approval for Hiku's storefronts in Manitoba and other jurisdictions. 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: Will Stewart, Vice-President, Corporate Communications & Public Affairs Hiku Brands, 416-899-9422, firstname.lastname@example.org