Hiku Celebrates AGLC Purchase of Tokyo Smoke and Van der Pop Branded Cannabis in Province of Alberta
Canada NewsWire
TORONTO, July 5, 2018
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TORONTO, July 5, 2018 /CNW/ - Hiku Brands Company Ltd. (CSE: HIKU) ("Hiku" or the "Company") is excited to see the supply agreement with the Alberta Gaming, Liquor & Cannabis Commission ("AGLC") and WeedMD Inc. ("WeedMD") to supply Tokyo Smoke and Van der Pop branded cannabis to the province using WeedMD product.
The agreement for Tokyo Smoke and Van der Pop branded cannabis in Alberta is in addition to the previously announced Hiku supply agreement with Manitoba for the supply of approximately 2 million grams of cannabis over 12 months and represents another key piece of Hiku's business strategy for the adult use market. As Canada's first vertically integrated cannabis company, Hiku is an active participant in both the wholesale and future retail markets of cannabis with our award-winning brands and existing retail footprint under the Tokyo Smoke brand.
"The agreement with AGLC strengthens Hiku's commitment to deliver best in class brands to the province where we have applied for more than a dozen stores in Calgary and Edmonton." said Alan Gertner, Chief Executive Officer of Hiku. "It is our plan to offer both Tokyo Smoke and Van der Pop branded products through our Tokyo Smoke store fronts."
Hiku is actively working with various regulators, provincial and municipal governments in the Province of Alberta to obtain the necessary permits for our proposed Tokyo Smoke stores and will ensure location specific permission prior to announcing our chosen locations.
The applications in Alberta follow on the success that Tokyo Smoke has achieved in Manitoba, where it was awarded one of only four conditional master retail licenses. The master license will allow Hiku Brands to open 10 stores in the province and operate an e-commerce portal.
Hiku has also entered into a letter of intent with Oceanic Releaf Inc. ("Oceanic"), a late stage applicant under the ACMPR in Newfoundland & Labrador, pursuant to which Oceanic and Hiku are working with the government on the approval for Oceanic of up to 5 additional stores in that province.
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