I love it when mom and dad make up.
As reported a few weeks back, the upcoming public markets debut of DOJA Marijuana, formerly Northern Lights, hopefully soon-to-be licensee, went sideways when parties close to the deal disagreed on valuations.
That valuation situation makes sense now, considering the news below.
Leading into the weekend, I had heard from three individuals that are close to the deal (admittedly, not primary players) that the deal was back on, and planned to write it up today.
DOJA CANNABIS COMPANY RECEIVES CONFIRMED DATE FROM HEALTH CANADA FOR WEST KELOWNA FACILITY’S ACMPR PRE-LICENSE INSPECTION
The private company that SG Spirit Gold Inc. has agreed to amalgamate with, Northern Lights Marijuana Co. Ltd. (DOJA), has received notification from Health Canada that an ACMPR (access to cannabis for medical purposes regulations) prelicence inspection of DOJA’s West Kelowna facility will commence on May 2, 2017.
DOJA was notified by Health Canada that a Pre-License Inspection of its state of the art West Kelowna Facility will commence May 2, 2017.
A successful Pre-License Inspection is the final step prior to receiving a cultivation license from Health Canada under the Access to Cannabis for Medical Purposes Regulations (“ACMPR”).
I’d said at the time that it would make sense for all parties to make each other whole, because the market does not like last minute plan changes, and it appears that’s exactly what has happened.
I’m guessing they’ll wait for that inspection to happen before tripping the public listing trigger, because a successful visit would amp up this thing x3.
DOJA is run by a Kelowna group that have history with a local winery, started and sold an underwear company that you may have seen on Dragon’s Den (and on my ass – ladies), and I’ve toured the facility and can confirm it’s ready for prime time.
— Chris Parry
FULL DISCLOSURE: There is no commercial agreement or conflict between DOJA, Spirit Gold and Equity.Guru. Though the DOJA folks did give me a sassy red as I left, which I enjoyed drinking and, I guess, is a conflict if you want to be finicky about it.