On March 7, 2018, Hiku Brands Company Ltd. (CSE:HIKU), a Canada-based holding company, provided several updates on the company’s recent corporate development initiatives. Hiku is focused on building a portfolio of cannabis brands, retail experiences and cannabis production.
Hiku’s wholly-owned subsidiary DOJA Cannabis Ltd., a licensed cannabis producer under Canada’s Access to Cannabis for Medical Purposes Regulations (ACMPR), submitted its application to Health Canada for the production of medical cannabis oils at its second site facility located in Kelowna, British Columbia. In addition, Hiku announced that it had signed a strategic partnership agreement with Vitalis Extraction Technology Inc. whereby Vitalis will advise on the build-out of DOJA’s extraction lab.
Furthermore, on February 16, 2018, TS Brandco Holdings Inc. (“Tokyo Smoke”), Hiku’s wholly-owned subsidiary, was conditionally awarded one of only four master retail licenses in Manitoba’s Request for Proposal process for the right to operate retail cannabis stores. The license gives Tokyo Smoke the ability to operate legal retail cannabis stores and an online cannabis sales platform in Manitoba. On March 6, 2018, Hiku acquired all the shares of TS Prairie Retail Corp., an entity that previously held exclusive rights to establish “Tokyo Smoke” branded stores in Alberta, Manitoba, and Saskatchewan, in exchange for 4.2 million common shares in the capital of Hiku.