Premium cannabis lifestyle brand DOJA Cannabis Company Ltd. (CSE: DOJA) (OTC: DJACF) this morning announced its entry into a binding letter of intent setting out the terms pursuant to which it proposes to acquire all of the issued and outstanding shares of Tokyo Smoke. Per the update, the proposed merger will create a uniquely positioned cannabis company combining a best-in-class craft cannabis producer and a retail-focused cannabis company. The combined company is expected to operate under the name “Hiku Brands Company Ltd.” in reference to the brand house containing premium cannabis brands DOJA, Tokyo Smoke and Van der Pop. Additionally, DOJA this morning announced its entry into a binding agreement with Aphria Inc. (TSX: APH) (OTCQB: APHQF) pursuant to which Aphria has committed to make a $10 million strategic equity investment in the combined company. With this investment, the newly-combined company is expected to have a robust cash position of roughly $31 million with which to expand its cannabis production capacity, grow its retail footprint and add select brands to its portfolio through complementary acquisitions.
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