BlackShire Capital commits $25M creating mīhī
TORONTO, Nov. 08, 2018 (GLOBE NEWSWIRE) -- BlackShire Capital is pleased to announce a $25M commitment to further build out its mīhī brand retail initiative, delivering a unique, customer centric cannabis retail experience for Ontario consumers.
BlackShire has already deployed its former Executive-in-Residence Tom Dyck as the active manager of this significant investment commitment. He becomes CEO of mīhī and is joined by accomplished and seasoned retail business leaders across a variety of disciplines. Tom is a retail banking veteran of over 30 years with TD Bank Group, most recently as Executive Vice-President for TD’s Canadian retail distribution network, with nearly 25,000 employees and 1,150 branches nationwide. Known for his commitment to community improvement, he was recently Chairman of the Board, United Way of Peel as it merged with the United Way of Toronto to form the world’s largest United Way.
mīhī, pronounced “mee hee” is a Latin word meaning “for me”. “We have invested in significant customer focused research which drove the creation of mīhī designed for cannabis consumers who want to live an authentic life, those seeking deeper, richer life experiences. We believe the consumer will incorporate cannabis into their lifestyle, so we are building a retail experience for them, featuring a personalized needs-based experience, a carefully curated product selection and a welcoming atmosphere” said Mr. Dyck. “mīhī will deliver the most customer centric retail experience in Ontario,” he added.
BlackShire Capital, a principal investor and asset manager in the global cannabis space, has committed the $25 million to launch this retail business. “We believe in the potential of this retail opportunity, the progress mīhī has made and the customer centric approach Tom and his team have developed. We also believe this investment has tremendous upside for our shareholders in advance of this market’s expansion,” said BlackShire Chairman Kevin Reed.
With the passage of Bill 36 which outlines the retail framework in Ontario, mīhī is actively pursuing a province wide retail network working closely with its commercial real estate partners CBRE and Ottawa-based Brentcom Realty Corp. The stores were designed by award winning Shikatani Lacroix.