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As Canada marches towards full legalization while its robust medical program experiences triple-digit annual growth rates, Health Canada has stepped up the pace of licenses awarded under Authorized Licensed Producers of Cannabis for Medical Purposes (ACMPR). So far in 2017, it has added 15 licenses, bringing the total to 52, making it challenging for investors and market participants to keep up with the rapidly changing landscape. It is more important than ever for the 40+ companies to differentiate themselves from one another.
DOJA Cannabis Company, the parent company of Northern Lights Marijuana Company, which received a Health Canada license to produce medical cannabis under ACMPR on June 16th, has a differentiated go-to-market strategy from its peers and a management team with a proven background. Based in British Columbia, DOJA, which was founded in 2013 and was the 247th applicant to Health Canada, is focused on the intersection of the medical and recreational markets, creating a lifestyle brand.
The company operates a small facility it owns in the Okanagan Valley, Canada’s “Napa of the North”, with three grow rooms capable of producing 660 kg per year and plans to boost its capacity to 5000 kg by the end of 2018. An additional expansion in the planning stages, the addition of a greenhouse, would boost capacity to 25,000 kg. Its handcrafted cannabis will be marketed like many retailers are beginning to do in the U.S., with categorization by effect, including Wellness, Inspire, Movement and Dream.
One of the key differentiators of DOJA is its management team, led by CEO Trent Kitsch, who founded and built SAXX Underwear into the fastest growing premium men’s underwear brands in North America. He and wife Ria, who serves as Vice President, previously founded Kitsch Wines in the Okanagan Valley. The Kitschs have also founded a successful construction company that specializes in high-end multifamily projects and custom luxury homes. Co-Founder and President Ryan Foreman has over 15 years of experience developing e-commerce operations with the consumer goods place. CFO Jeff Barber, CFA has an extensive investment banking background with substantial capital raising experience.
The company is pursuing an interesting brand-building exercise by opening the DOJA Culture Cafe on the busiest street in Kelowna, BC next month. The company will be raising awareness as well as pre-registering patients while operating as a coffee shop and cannabis information center. In 2018, it expects to be permitted to sell dried flower and will then apply for a license to sell oils.
DOJA announced plans to go public in February after a strategic review, entering into a definitive agreement to be acquired SG Spirit Gold, and it expects to complete that process in the next few weeks. Management holds 33% of the shares outstanding. The company, which expects to trade on the CSE with the symbol DOJA, has approximately 59mm basic shares and 71mm fully-diluted shares.
To learn more about DOJA and to follow the company, please visit: https://www.newcannabisventures.com/doja-stock-cannabis-company/
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