Doja Cannabis Company Limited Reports Third Quarter 2017 Results

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KELOWNA, BC, Nov. 29, 2017 /CNW/ – DOJA Cannabis Company Limited (CSE: DOJA) (“DOJA” or the “Company”), a cannabis lifestyle brand and federally licensed producer of handcrafted premium cannabis flower, is pleased to announce that it has filed its financial statements and related Management’s Discussion and Analysis (“MD&A”) for the three and six month periods ended September 30, 2017 on SEDAR. The financial statements and MD&A will be available at www.sedar.com.

Trent Kitsch, CEO of DOJA commented, “I am very proud of our team’s year-to-date accomplishments, we have reached a number of milestones in less time and for less investment than originally budgeted.”

Highlights from the past six months include:

  • DOJA’s wholly owned subsidiary secured a License to Cultivate Medical Cannabis under the ACMPR on June 16th;
  • Completed a public listing on the Canadian Securities Exchange on August 9th;
  • Began cultivation of DOJA’s first four cannabis strains in July 2017;
  • Harvested and cured the Company’s first batches of premium handcrafted cannabis flower in October;
  • Opened the first DOJA Culture Café, a cannabis information center and artisanal coffee shop;
  • Purchased a 22,580 square foot building, the DOJA FUTURE LAB, bringing total potential production capacity to 5,000 kg/yr;
  • Requested a Pre-Sales Inspection from Health Canada on October 31st, the last step prior to being issued a License to Sell; and
  • Commenced construction of the FUTURE LAB’s 2,000 square foot state-of-the-art extraction facility and lab.

DOJA has an ambitious goal of becoming the leading lifestyle cannabis brand in Canada. We know that iconic brands are backed by iconic products, so our attention has been placed firmly on the art of growing, trimming and curing to ensure the quality and consistency of our handcrafted cannabis flower. Looking to the future there are a number of initiatives that we plan on executing that will further differentiate the DOJA brand and create value for our shareholders.

Trent Kitsch, CEO of DOJA

Leading up to legalization of cannabis for adult use in Canada, DOJA has set the following key goals for the Company:

  • Obtaining a License to Sell Medical Cannabis under the ACMPR;
  • Complete build-out phase of the extraction lab and a license to produce cannabis oil;
  • Securing access to a cannabis supply source for extraction feedstock;
  • Expanding DOJA’s retail presence in Western Canada; and
  • Expanding cannabis production capacity or securing a supply source.

The Company also announces that it has agreed to issue an aggregate of 674,666 common shares in the capital of the Company (the “Common Shares”) to two of the Company’s creditors in satisfaction of certain debt obligations. The issuance of the Common Shares in satisfaction of the debt is subject to the receipt of all requisite approvals, including, without limitation, the approval of the Canadian Securities Exchange.

ABOUT DOJA

DOJA™ is a premium cannabis lifestyle brand growing high-quality handcrafted cannabis flower. DOJA’s wholly owned subsidiary is a licensed producer of cannabis under the ACMPR that has requested its Pre-Sales License Inspection, the last step prior to receiving a license to sell cannabis under the ACMPR. DOJA’s state-of-the-art ACMPR licensed production facility is located in the heart of British Columbia’s picturesque Okanagan Valley. DOJA was founded by the proven entrepreneurial team that started SAXX Underwear®.

Original press release

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Published by NCV Newswire
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