Hiku Brands Company Ltd (OTCMKTS:DJACF) shares have started to push higher in recent days on news that the company is apparently gaining steam in its move into the roaring CBD oil space. As we noted several times of late, this segment of the cannabis patch has been seeing strong analyst growth expectations. The recent rip in shares of the stock has seen as much as 28% in just the last few days following the company’s update of its recent corporate development initiatives.
The main interesting note we gleaned from the release was the interesting note of a partnership with Vitalis Extraction. Vitalis supplies supercritical CO2 CBD Oil extraction equipment and is a known leader in that field. As noted in the release, “the strategic partnership agreement with Vitalis Extraction Technology Inc., whereby Vitalis will advise on the build-out of DOJA’s extraction lab, partner on certain research and development initiatives, and supply the FUTURE LAB with Vitalis’ Q-90 supercritical CO2 extraction system – which is capable of processing up to 80 kg of cannabis flower per day into ultra-pure, exceptionally-clean, high-quality cannabis oils without the use of any toxic solvents. Vitalis is known as the leading manufacturer of high flow rate industrial supercritical CO2 extraction systems that are redefining the capabilities of traditional extraction methodologies.”
Hiku Brands Company Ltd (OTCMKTS:DJACF) bills itself as a company that is focused on building a portfolio of iconic, engaging cannabis brands, unsurpassed retail experiences and handcrafted cannabis production. With a national retail footprint led byTokyo Smoke, craft cannabis production throughDOJA’s ACMPR licensed grow, andVan der Pop’s female-focused educational platforms, Hiku houses an industry-leading portfolio that sets the bar for cannabis brands in Canada.
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. (TSX: APH) (OTCQB: APHQF) and WeedMD Inc. (TSXV: WMD) to ensure Hiku’s brands will be able to scale in 2018 and beyond.
It appears as though the company may have formerly been known as Northern Lights Marijuana Company Limited as an operating biotechnology company. The company was founded in 2013 and is based in West Kelowna, Canada.
Find out when $DJACF stock reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.
As noted above, shares of DJACF have been on the move, coming up to an underside key test of the 50-day simple moving average following the company’s announcement of its move into the CBD Oil space, helped in part by a strategic partnership with a leading supplier of supercritical CO2 extraction equipment.
“This is an important step for Hiku, the future of cannabis will be convenience and consistency, and the proliferation of dose-controlled consumption methods will be driven by oil and concentrate innovation,” said Alan Gertner, CEO of Hiku. “Vitalis has vast experience deploying supercritical CO2 extraction systems and is at the forefront of extraction innovation. We look forward to working with them to build out our state-of-the-art extraction lab and develop a diverse cannabis oil and concentrate offering.”
We’ve witnessed 31% piled on for shareholders of the company during the trailing week. This is emblematic of the stock. DJACF is a stock with a past that has featured a litany of sudden rips to the upside. Furthermore, the listing has benefitted from a jump in recent trading volume to the tune of 77% above the average volume levels in play in this stock over the longer term.
Now commanding a market cap of $133.3M, DJACF apparently has just over $4M in cash on the books, which stands against about $362k in total current liabilities. The company has pulled in minor revenues over the past 12 months. This may be a very interesting story and we will look forward to updating it again soon. Sign-up for continuing coverage on shares of $DJACF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $DJACF, either long or short, and we have not been compensated for this article.