Hiku Brands Company Ltd. (CSE:HIKU,OTCUS:DJACF) (“Hiku” or the “Company”) is excited to see the supply agreement with the Alberta Gaming, Liquor & Cannabis Commission (“AGLC”) and WeedMD Inc.
The agreement for Tokyo Smoke and Van der Pop branded cannabis in Alberta is in addition to the previously announced Hiku supply agreement with Manitoba for the supply of approximately 2 million grams of cannabis over 12 months and represents another key piece of Hiku’s business strategy for the adult use market. As Canada’s first vertically integrated cannabis company, Hiku is an active participant in both the wholesale and future retail markets of cannabis with our award-winning brands and existing retail footprint under the Tokyo Smoke brand.
“The agreement with AGLC strengthens Hiku’s commitment to deliver best in class brands to the province where we have applied for more than a dozen stores in Calgary and Edmonton.” said Alan Gertner, Chief Executive Officer of Hiku. “It is our plan to offer both Tokyo Smoke and Van der Pop branded products through our Tokyo Smoke store fronts.”
Hiku is actively working with various regulators, provincial and municipal governments in the Province of Alberta to obtain the necessary permits for our proposed Tokyo Smoke stores and will ensure location specific permission prior to announcing our chosen locations.
The applications in Alberta follow on the success that Tokyo Smoke has achieved in Manitoba, where it was awarded one of only four conditional master retail licenses. The master license will allow Hiku Brands to open 10 stores in the province and operate an e-commerce portal.
Hiku has also entered into a letter of intent with Oceanic Releaf Inc. (“Oceanic”), a late stage applicant under the ACMPR in Newfoundland & Labrador, pursuant to which Oceanic and Hiku are working with the government on the approval for Oceanic of up to 5 additional stores in that province.
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, our 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, the location of Hiku’s stores in the Province of Manitoba, final government approval for such stores, the approval of Hiku’s Alberta storefront applications, the timing of such applications being considered, the completion of the proposed transaction with Oceanic, applicable stock exchange approval of the transaction with Oceanic, and the approval of Oceanic’s Newfoundland & Labrador storefronts.. 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.
It is noted that Hiku’s proposed transaction with Oceanic is subject to applicable stock exchange approval.
The Canadian Securities Exchange has not approved nor disapproved the contents of this news release.
For further information: Will Stewart, Vice-President, Corporate Communications & Public Affairs Hiku Brands, 416-899-9422, firstname.lastname@example.org