Earlier today, DOJA Cannabis, owner of recently licensed LP, Northern Lights Marijuana Company and self-described premier cannabis lifestyle brand announced that the company has received conditional approval to list on the CSE.
Related: Health Canada Approves Two More Licensed Producers
DOJA Cannabis is expected to close its previously announced reverse merger transaction with SG Spirit Gold Inc. on or about August 2, 2017. Following the close of the transaction, DOJA will release an update regarding the company's expected first day of trading. They anticipate that the company will be renamed DOJA Cannabis Company Limited and will trade on the CSE under the symbol "DOJA".
About DOJA Cannabis
DOJA's wholly-owned subsidiary, Northern Lights Marijuana Company received its license to cultivate pursuant to the ACMPR on June 16th, 2017. Northern Lights Marijuana Company operates a 7,100 square foot facility with three grow rooms (that management estimates are capable of producing 660 kg/yr each). The facility has a level 7 safe with a storage capacity of 650 kg.
Beyond Northern Lights, in August, DOJA will be opening the "DOJA Culture Cafe" in Kelowna, BC. The cafe will serve premium local roasted coffee, sell branded clothing and accessories and serve as a cannabis information center.
On the numbers side of things, DOJA has $4.5 million CAD in cash (as of July 10th, 2017) and 58.8 million shares outstanding. The company has 7.9 million management performance warrants (that vest upon the completion of certain milestones, i.e. obtaining an ACMPR sales amendment), 0.3 million options outstanding (with an exercise price of $0.56 CAD/share) and 14.1 million warrants outstanding (with an exercise price of $0.26 CAD/share). Management of the company holds 33% of the DOJA's shares outstanding.
Learn more about DOJA by checking out their investor presentation embedded below:
Stay tuned for more coverage on DOJA Cannabis on their road towards listing on the Canadian Securities Exchange, as well as news and updates regarding the rest of the Canadian licensed producers.
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