VANCOUVER, Sept. 18, 2018 /CNW/ - Choom™ (CSE: CHOO) (OTCQB: CHOOF) (the "Company" or "Choom") an emerging, fully-integrated cannabis company, is pleased to announce that it has applied for a master retail license (the "License") in Manitoba's Request for Proposal ("RFP") to sell recreational cannabis coming October 17th. The License would give Choom the capability to operate retail cannabis stores within the province, as well as, an e-commerce platform.
Choom currently has secured the rights of up to 52 retail opportunities across western Canada. Choom's rapidly expanding provincial presence now stands at 29 leases in highly strategic and secure locations in Alberta with 28 applications submitted, in combination with 17 retail opportunities in B.C., and 6 retail opportunities in Saskatchewan. Choom also has received Development Permits in 11 municipalities and is in the process of its retail store buildouts.
Choom™ is executing an aggressive expansion plan to create a significant retail brand in the Canadian adult use market and is committed to developing and acquiring retail stores as a top priority. In all cases, the retail opportunities are subject to all necessary governmental and municipal approvals being granted. This number is expected to grow over the coming months as the Company is currently negotiating additional leases with the intention of submitting applications for retail licenses in multiple jurisdictions.
"Manitoba represents another step in our strategy to build one of the largest private retail networks across Canada and establishing ChoomTM as a dominant Canadian cannabis brand. The RFP process is highly competitive, and receiving one of the master licenses will give us the ability to sell directly to consumers- either in store or online." states Chris Bogart, President and CEO of Choom. "Consumers in Manitoba can expect style and sophistication when they walk into a Choom store. The Choom brand was created exclusively to service the recreational market, ensuring curious customers and cannabis connoisseurs alike can 'cultivate good times'. We remain committed to pursuing more retail opportunities across Canada, and Manitoba is an important part of our national strategy."
SAY HELLO TO CHOOMTM
The Choom brand is inspired by Hawaii's "Choom Gang"- a group of buddies in Honolulu during the 1970's who loved to smoke weed—or as the locals called it, choom. Evoking the spirit of the original Choom Gang, our brand is synonymous with cultivating good times with good friends. We are focused on delivering an elevated customer experience through our curated retail environments, high-grade handcrafted cannabis supply, and a diversity of brands for the Canadian recreational consumer.
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.
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.
SOURCE Choom Holdings Inc.
For further information: Choom Holdings Inc., Chris Bogart, President & CEO, T: 604.683.2509, F: 604.683.2506, E: [email protected]; Alex Porporo, Investor Relations, T: 604.683.2509 Ext. 231, F: 604.683.2506, E: [email protected]