CSE New Listing - DOJA Cannabis Company Commences Trading on the Canadian Securities Exchange - Video News Alert on InvestmentPitch.com
Vancouver, British Columbia--(Newsfile Corp. - August 15, 2017) - DOJA Cannabis Company Limited (CSE: DOJA) is the latest new listing on the Canadian Securities Exchange, and trades under the symbol "DOJA". The company, previously traded as SG Spirit Gold on the TSX Venture Exchange, prior to a one for three share consolidation.
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The company acquired all the outstanding shares of Northern Lights Marijuana Company, a licensed cannabis producer under the ACMPR from Health Canada.
DOJA, the first licenced producer to focus exclusively on building a cannabis lifestyle brand, will feature a range of curated handcrafted strains ideally suited for Canada's merging cannabis market.
The company's current state-of-the-art production facility, in the Okanagan Valley, is capable of producing 660 kilograms of dried cannabis per year, with expansion plans to increase production capacity to 5,000 kilograms per year. At this increased level of production, management is forecasting $60 million per year in sales, with gross margins of 50% to 60%, and EBITDA margins of 25% to 35%.
The company is headed by Trent Kitsch, CEO, who founded and built SAXX Underwear into the fastest growing premium men's underwear brands in North America.
Trent Kitsch, CEO, stated: "Going public on the CSE is a great achievement for DOJA. With this larger stage, we now have the ability to reach a global investor base and we look forward to welcoming many new investors that share our vision for the future of cannabis to the DOJA team. As an authentic premium cannabis lifestyle brand, we have established deep roots locally and we are now extending out strong branches that will take the brand beyond the Canadian border. We are cannabis futurists — that believe cannabis is not what defines people, it is just a part of their lifestyle."
The company plans to open its first storefront location, which will feature premium coffee, branded clothing and accessories that complement the DOJA lifestyle and a cannabis access center.
After a couple of days of trading, the shares are trading at $0.62 and with 58.8 million shares outstanding, the company is capitalized at $36.4 million.
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Source: Newsfile Corp.