NetworkNewsWire Editorial Coverage: Public acceptance and legislative approval of cannabis use, both for medicinal and recreational purposes, continue to spread internationally. In Canada, where medicinal cannabis has been legal since 2001, the federal government is moving toward its goal of adding recreational marijuana legalization nationwide by July 2018. The turning tide in public sentiment and the advancement of legalization, both in Canada and throughout the world, are gradually destigmatizing marijuana use and giving rise to new cannabis subcultures and brands. This evolution of the cannabis lifestyle is creating big market potential for Canadian cannabis producers like DOJA Cannabis Ltd. (CSE: DOJA) (OTC: DJACF) (DOJA profile), MYM Nutraceuticals, Inc. (CSE: MYM) (OTC: MYMMF), Emblem Corp. (TSX.V: EMC) (OTC: EMMBF), ABcann Global (ABCN:CC) (OTCQB: ABCCF) and Cannabis Wheaton Income Corp. (TSX.V: CBW) (OTCQB: CBWTF) as these players see increased opportunities to meet the rising demand for quality cannabis.
A recent market research report has predicted that the international cannabis market, currently worth approximately $7.7 billion, will reach $31.4 billion by 2021 (http://nnw.fm/EpTH9), spurred on by the continued liberalization of marijuana laws across the globe. As Canada prepares for recreational cannabis legalization, companies like DOJA Cannabis Ltd. (CSE: DOJA) (OTC: DJACF) are right in line to profit.
DOJA is a premium cannabis lifestyle brand and licensed marijuana producer in Canada, based in the Okanagan Valley of British Columbia. DOJA believes “lifestyle” is where the medical and recreational cannabis markets converge, and the company’s central focus is on creating a revolutionary cannabis lifestyle brand. DOJA, in fact, stands out as Canada’s first licensed cannabis producer to focus on building a high-end lifestyle cannabis brand in this way.
DOJA’s wholly owned subsidiary is a licensed cannabis producer under Canada’s Access to Cannabis for Medical Purposes Regulations (ACMPR), and the company has further applied for a cannabis sales license through the ACMPR, which is expected to be issued soon. On Nov. 2, DOJA announced that its subsidiary had successfully completed initial marijuana harvests and had requested a pre-sales license inspection from Health Canada, which is the final step prior to receiving a cannabis sales license under the ACMPR.
DOJA also recently closed its acquisition of a 22,850-square-foot commercial building in Kelowna, where the company intends to build a state-of-the-art extraction facility, called the FUTURE LAB, and for which it plans to obtain an oil production license. When this facility is completed, DOJA expects its corporate cannabis production capacity will exceed 5,000 kg annually.
“The acquisition is a game changer for DOJA,” DOJA CEO Trent Kitsch stated in a recent press release (http://nnw.fm/Sp1BX). “It allows us to expand our production capacity by almost 8 times, diversify our strain production, integrate a world class extraction lab and leverage the economies of scale that come from a larger growing-space. Our strategy has always been to reach 5,000 kg of cannabis production per year by the end of 2018; with the addition of the FUTURE LAB we project we will reach (our) goal in less time and for less capital investment than previously budgeted. The FUTURE LAB has 325 feet of highway frontage, which will be utilized to promote DOJA’s cannabis lifestyle brand to the 1.9 million plus visitors to the Okanagan each year and the 40,000 commuters that drive past the facility each day.”
DOJA brings a handcrafted approach to the cannabis space, with a focus on branding premium flower and extracts. The company grows its cannabis indoors and hand trims and hang-dries all flower, which are techniques that coax greater flavor and result in enhanced quality and higher crystal content.
DOJA recently opened the Doja Culture Café in Kelowna, which is a high-end café and cannabis access center. At present, the establishment hosts events like cannabis information nights and doctor discussions for medical marijuana patients to help promote the development of cannabis culture in Kelowna. The company plans to take steps toward incorporating a cannabis dispensary within the venue once the provincial government in British Columbia settles on which model it will adopt relative to recreational cannabis legalization (http://nnw.fm/ri3PX). DOJA plans to open additional culture cafes in the future.
The management team that leads DOJA is composed of individuals who possess experience working with distributor channels in the liquor industry, and the company’s founders are locked into the company for a three-year period — a testament of their dedication to the company’s mission and to the cannabis space in general. Kitsch built his profile as the founder of Saxx, one of Canada’s premier men’s undergarment brands. He was featured on “Dragon’s Den” and owns Kitsch Wines in Kelowna.
Another Canada-based cannabis player poised to benefit when the country legalizes recreational marijuana is MYM Nutraceuticals Inc. (CSE: MYM) (OTC: MYMMF). MYM is focused on acquiring licenses through Health Canada for producing and selling premium organic medical cannabis supplements and topical products. The company has two production projects in Quebec that will, when they are completed, boast more than 1.5 million square feet of cannabis production space.
Additionally, MYM is a partner in a 1.2 million-square-foot production project in New South Wales, Australia. MYM is actively seeking to acquire complementary businesses and assets within the technology, nutraceutical and cannabidiol sectors of the cannabis market.
Vertically integrated cannabis company Emblem Corp. (TSX.V: EMC) (OTC: EMMBF) is another Canadian marijuana player that is anxious for the advent of recreational cannabis legalization. Emblem is focused on R&D, production and distribution of medical cannabis products, and the company recently announced its growth plans for 2018 (http://nnw.fm/S39p6), which include significantly increasing its cultivation capacity preparatory to recreational marijuana legalization.
Currently, Emblem has more than 8,500 square feet of flowering capacity at its closed-box facility in Paris, Ontario, and operates through a multifaceted approach of employing both “closed box” and greenhouse production facilities.
A significant land acquisition recently completed by the company is paving the way for cutting-edge greenhouse facilities that will substantially expand Emblem’s total production capacity to more than 17,000 kg of dried flower per year. Emblem also has its oils license in place.
Another standout in the Canadian marijuana market is ABcann Global (ABCN:CC) (OTCQB: ABCCF), which was one of the first companies to obtain licensure to produce medical marijuana in Canada. ABcann has been a licensed cannabis producer in good standing since 2014 and has zero history of product recalls to date. The company employs a proprietary computer-controlled indoor growing process that regulates temperature, humidity and water. The result of this unique cultivation approach is the production of cannabis that is high-quality, standardized, organically grown and pesticide-free. ABcann is expanding its line of products to include cannabis oils (http://nnw.fm/Z1LnN), and the company is further pursuing opportunities for partnership and product development both domestically and in select international markets.
Another Canada-based entity is contributing to Canada’s cannabis market in a more unique way. Cannabis Wheaton Income (TSX.V: CBW) (OTCQB: CBWTF) (d/b/a Wheaton Income) is an asset management company that is engaged in investing and supporting a wide variety of licensed cannabis producers in Canada. Cannabis Wheaton has created a platform through which LPs (licensed cannabis producers) and LP applicants can obtain CapEx financing to build or expand their marijuana cultivation facilities.
In exchange, Cannabis Wheaton receives a combination of equity in these streaming partners and a percentage of their cultivation yields over a certain period of time and at negotiated prices per gram. In addition to providing its partners with the funding they need, Cannabis Wheaton also gives them access to its expert management team, which is composed of industry leaders, to assist them in accelerating the growth of their enterprises.
Cannabis Wheaton foresees the worsening problem of cannabis shortages in Canada while marijuana producers race to meet the demands of authorized medical cannabis patients and to also get ready for the increased demands that will come with recreational legalization. Through supporting the successful development of Canadian cannabis producers, Cannabis Wheaton aims to foster the growth of a diverse, robust, innovative and successful cannabis industry.
As the legalization of recreational marijuana use looms in Canada and as public acceptance and legalization move forward throughout the world, the named companies are gearing up for a Canadian cannabis boom that is sure to be substantial. As the cannabis lifestyle gradually takes hold throughout the world, these players are in prime position to profit and expand.
For more information on DOJA Cannabis Ltd., visit DOJA Cannabis Ltd. (DOJA).
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