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TORONTO, Feb. 5, 2018 /CNW/ - Hiku Brands Company Ltd. ("Hiku" or the "Company") (CSE: Hiku), Canada's first vertically-integrated cannabis brand house, is pleased to announce its wholly owned subsidiary DOJA Cannabis Ltd. ("DOJA"), a licensed cannabis producer under the Access to Cannabis for Medical Purposes Regulations (the "ACMPR"), received notification from Health Canada that the company's pre-sale inspection has been scheduled for Tuesday, February 13, 2018. The Pre-Sales License Inspection is the last step prior to the issuance of a Sales License under the ACMPR.
"As there are currently only 26 independent companies with cannabis sales licenses under the ACMPR in Canada, receiving confirmation of our Pre-Sales License Inspection from Health Canada is a major milestone for Hiku. I'm extremely proud of our cultivation team, the dedication to their craft shows in the very high-quality flower being produced at our licensed facility. Our team's ability to execute has allowed us to advance to the Pre-Sales License Inspection ahead of schedule and faster than our peers. We look forward to soon selling DOJA-branded cannabis to our valued customers," said Alan Gertner, CEO of Hiku.
Hiku is focused on handcrafted cannabis production, immersive retail experiences, and building a portfolio of iconic, engaging cannabis lifestyle brands. Hiku is differentiated as the only Canadian craft cannabis producer with a significant national retail footprint and a growing brand house including premium cannabis lifestyle brands DOJA, Tokyo Smoke, and Van der Pop.
Hiku's wholly-owned subsidiary, DOJA Cannabis Ltd., is a federally licensed producer pursuant to the ACMPR, owning 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.
Hiku has entered into supply partnerships with Aphria Inc. ("Aphria") (TSX: APH) (OTCQB: APHQF) and WeedMD Inc. (TSXV: WMD) ("WeedMD") to ensure Hiku's brands will be able to scale in 2018 and beyond.
Aphria Inc., one of Canada's lowest cost producers, produces, supplies and sells medical cannabis. Located in Leamington, Ontario, the greenhouse capital of Canada. Aphria is truly powered by sunlight, allowing for the most natural growing conditions available. Aphria is committed to providing pharma-grade medical cannabis, superior patient care while balancing patient economics and returns to shareholders. Aphria was the first public licenced producer to report positive cash flow from operations and the first to report positive earnings in consecutive quarters.
WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer and distributor of medical cannabis under the ACMPR. The Company operates an indoor facility in Aylmer, Ontario, and is awaiting its second-site cultivation license for its greenhouse facility located in Strathroy, Ontario. WeedMD has entered into supply agreements in addition to strategic relationships with established cannabis brands. WeedMD is focused on providing medical cannabis to the long-term care, assisted living and seniors' markets in Canada through its specialized and comprehensive platform. It is dedicated to educating healthcare practitioners and furthering public understanding of the role that medical cannabis plays – including as it pertains to regulatory requirements, indications and potential side effects.
Statement 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 it will sell DOJA-branded products to customers, and scale in 2018 and beyond. 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.