VANCOUVER, March 7, 2018 /CNW/ - Choom™ (CSE: CHOO; OTCQB: CHOOF) is pleased to announce that it has signed the first agreement in its retail investor program and is pleased to welcome an Okanagan consortium to the Choom™ brand. This follows Choom's announcement on January 18th, 2018 highlighting a retail strategy of developing a chain of branded retail cannabis dispensaries across Canada.
The consortium, known as the 'Thompson Okanagan Choom Group' ("TOCG") has secured the exclusive territory rights to open multiple Choom™ branded retail dispensaries in the Thompson-Okanagan region. TOCG is comprised of local investors and business partners led by Debra G Adams, Sherman Dahl, Imre Kovacs and Kent Adams, combining to bring decades of business experience to contribute to the success of Choom™ locations in the Thompson-Okanagan region.
Debra G. Adams, RN - Managing Partner & Business Development Mrs. Adams recently retired from a 30-year career as community registered nurse to seek opportunity in the cannabis sector with the TOCG. Mrs. Adams believes the retail opportunities for the recreational market will dwarf the medicinal space. "We've been closely monitoring the explosion of Cannabis companies in Canada and are very pleased to be working with a 'best in class' operator such as Choom™, states Mrs. Adams. The branding, professionalism and style of Choom™ is second to none and our team can't wait to get started"!
Sherman Dahl - VP Finance Mr. Dahl is a seasoned investor and financier who is well versed in finance and marketing strategies for small cap private and public Canadian companies. Mr. Dahl has expertise in identifying undervalued companies and introducing these opportunities to his buy-side network of clients, strategic co-investors and marketing participants. Mr. Dahl has a proven record of being able to raise capital and increase investor awareness and liquidity. Mr. Dahl was previously a vice-president and investment adviser with National Bank Financial, a leading Canadian investment dealer. In addition to managing a $150-million retail book and achieving Chairman's Council level, Mr. Dahl participated in numerous capital raises totaling over $100-million directly for various issuers with total issuer financings of $1 billion on behalf of retail and institutional clients over a 20-year career. Pretium Communications is an advisory and consulting firm based in Vernon, B.C. Pretium Holdings also owns and operates restaurants and media print businesses in Vernon, B.C. Mr. Dahl holds a Bachelor of Business Administration (Economic and Finance Major) degree from the University of Regina.
Imre Kovacs - Special Advisor A seasoned entrepreneur who founded his first company while attending university and after ten successful years, entered the emerging legalized cannabis market. Imre operated Canada's first municipally-licensed dispensary in Vernon, BC, setting the blueprint for other dispensaries to follow. His expertise and experience create a unique inside perspective that will be invaluable in assisting to create successful retail operators.
Kent Adams - VP Marketing Mr. Adams' experience in sales & marketing dates back over 25 years. By combining an early passion for technology with his comprehension of powerful digital advertising platforms, Mr. Adams has leveraged previous experience to develop strategies and implementations that have resulted in very successful digital campaigns. "It's very exciting to be welcomed into the Choom™ family and to anticipate the spectacular opportunities that lay ahead in this high growth sector. We've been patiently considering opportunities and we feel this is the right time, and the right company with which to enter into the space."
"We're inviting people to join a world class brand built exclusively for the recreational cannabis market and we're encouraging them to join us by registering for their own ChoomTM Store in the Thompson Okanagan region," states Mrs. Adams. Choom™ is using design and retail strategies that have worked successfully at some of the most profitable storefronts in the country. We are telling our Choom story with our stores and will elevate the concept of a high-quality product though our new retail environments, and we're inviting others to join us.
With an estimated $4.9B to $8.7B1 retail market coming, now is the right time get involved in this rapidly expanding industry. Choom™ is very pleased to start welcoming dispensary entrepreneurs to the Choom™ brand. As we move forward in the design process and developing our retail strategy, adding passionate people will be key to growth. In an industry where dispensaries in a legal recreation market are making more revenue per square foot than Whole Foods2 we look forward to adding people who want to get in on the ground floor. Here's to good times with good friends.
SAY HELLO TO CHOOM™ Choom™ was created for and inspired by the Choom Gang; a group of buddies in Honolulu during the 1970's who loved to smoke weed—or as the locals called it, "Choom". Now, after four decades, Choom™ is bringing the spirit of Hawaii to Canada. We're planting our flag in the rapidly growing legal cannabis industry in Canada with our own brand of high-grade handcrafted herb. Choom™ will provide an amazing experience for customers, and bring style, sophistication and fun to the cannabis market with through our Choom™ stores.
"Chris Bogart" President & CEO
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward-looking information This news release contains forward-looking information relating to the Company's proposed activities and other statements that are not historical facts. Forward-looking information relates to management's future outlook and anticipated events or results, and include statements or information regarding the future plans or prospects of the Company. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. These factors include risks and uncertainties associated with the results of diligence investigations, developments in the cannabis sector, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, reliance on key personnel, regulatory risks and delays and other risks and uncertainties discussed in the management discussion and analysis section of the Company's interim and most recent annual financial statement or other reports and filings, including the Company's Listing Statement, made with the applicable Canadian securities regulators. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information.