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Hiku Brands Company Ltd (OTCMKTS:DJACF) Gets on the Map in the Canadian Cannabis Game

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If you’re looking for interesting new expansion plays in the Canadian cannabis space, then Hiku Brands Company Ltd (OTCMKTS:DJACF) isn’t a bad place to start. The company just announced it has entered into a binding letter of intent with Oceanic Releaf Inc., a Newfoundland & Labrador-based late-stage applicant under the Access to Cannabis for Medical Purposes Regulations.

According to the release, “under the terms of the LOI, Hiku will invest up to $1,000,000 in cash and up to $2,000,000 worth of common shares of Hiku in exchange for 25% of the post-closing aggregate issued and outstanding shares of Oceanic on a fully-diluted basis. In connection with the Strategic Investment and pursuant to the LOI, Hiku and Oceanic intend to become licensed for up to five cannabis retail locations within the province and will enter into a retail agreement governing the operation of these stores. The Strategic Investment will be contingent upon securing retail licenses from the Government of Newfoundland & Labrador allowing Hiku to operate stores within Newfoundland & Labrador.”

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 through DOJA’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.

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 wholly-owned subsidiary, 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.

TS BrandCo Holdings Inc. manufactures and retails coffee, clothing, and cannabis. The company offers museum quality collectables, branded Tokyo Smoke goods on top of their custom roast coffee beans, artisanal sandwiches, baked goods, and cold pressed juices; luxurious outerwear and business-casual attire cotton shirts; and go, relax, relief, and balance cannabis strains. It offers its products through its online store.

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.

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“We are excited to be a cornerstone investor in Oceanic, a true pioneer in the Newfoundland & Labrador cannabis industry. Taylor Giovannini and her team’s entrepreneurial operating and partnership philosophy aligns perfectly with Hiku’s”, said Alan Gertner, CEO of Hiku. “This expansion to the East Coast marks a critical milestone for us, and we are thrilled to be able to bring our first-class retail experience across Canada.”

“This was a vision that started simply – a desire to help people along their medical journey; remove the stigma around this misunderstood industry; as well as help out with the rural revitalization of my home on the Burin Peninsula,” said Taylor Giovannini, co-founder and CEO of Oceanic. “I am so excited by the opportunity to work with a brand of Hiku’s stature, to learn from them, and to see their significant investment in our province. It’s a recognition of the compelling value that the cannabis industry sees in our potential – fresh, clean products from one of the last unspoiled areas in North America.”

Currently trading at a market capitalization of $61M, 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. We will update the story again soon as further details emerge. 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.

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