DOJA and Tokyo Smoke merge to form retail cannabis company Hiku Brands with funding from Aphria
Kelowna, B.C. – Two recreational cannabis lifestyle brands, DOJA and Tokyo Smoke based out of British Colombia, announced that they will be merging companies to form Hiku Brands, with strategic investment from Aphria Inc.
Aphria is investing $12.5 million into Hiku upon completion of the merger, bringing the combined cash position to roughly $31 million – funding which will be dedicated to building up a nation-wide retail footprint and brand, as well as scaling up production capacity.
Aphria's strategic investment into Hiku marks Aphria's first venture into British Columbia's premium cannabis market.
Hiku will have seven operational, legal cannabis accessory stores with locations across Canada in Ontario, Alberta and British Columbia, and will be applying to the Government of Manitoba.
Trent Kitsch, CEO of DOJA says that he is confident that Hiku will be trusted by consumers to create better customer experiences and products.
“We have created the leading brand house in cannabis where high quality and design will shape the cannabis future,” he said in a press release.
DOJA operates a cannabis production facility in British Columbia's Okanagan Valley, and is in the process of building FUTURE LAB, DOJA's new production facility to be located in Kelowna, British Columbia to support production capacity in excess of 5,000 kg per year.
Vic Neufeld, Chief Executive Officer of Aphria said "This transaction has the twofold benefit of providing us access to strong brands, through Tokyo Smoke and DOJA, and craft-cultivated British Columbia bud, through DOJA.”
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