VANCOUVER, Nov. 22, 2017 /CNW/ - Choom™ is pleased to announce that effective at the open of the market today, Choom's common shares will be listed and will commence trading on the Canadian Securities Exchange (the "CSE") under the four-letter ticker symbol "CHOO".
Choom™is a cannabis production and sales licence applicant under Health Canada's Access to Cannabis for Medical Purposes Regulations (ACMPR) with its facility located in Vernon, B.C., equipped with extensive cannabis cultivation equipment. The company has cleared security and is currently in the detailed review stage. The Company is focused on achieving its license to produce and sell high-grade, handcrafted cannabis.
Choom™has a planned Phase 1 cannabis production facility that will be capable of producing approximately 660 kg of dried cannabis per annum. The planned Phase 2 expansion plans, within the existing facility would increase its cannabis production capacity to a total of ~1500 kg/year.
Choom™ Brand: The Company secured the rights to the brand "Choom™" in Canada for the medical and recreational cannabis market. The company will focus its business on the highest quality handcrafted cannabis strains and intends to curate the right products and experiences for the Canadian consumer and patient.
Cultivating Experience: Channeling the spirit of Hawaii in the Okanagan. We're planting our flag in the rapidly growing legal cannabis industry in Canada with our own brand of high-grade handcrafted herb. Choom's handcrafted strains are all about cultivating, good times and good friends.
Recreational Market Potential Canada's scheduled legalization is in July 2018, and the market is estimated at $4.9 to $8.7 billion for the Canadian retail market. Choom™was created to cultivate naturally grown cannabis for the adult medical and recreational markets.
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 the Okanagan and Canada. We're planting our flag in the rapidly growing legal cannabis industry in Canada with our own brand of high-grade handcrafted herb.
"Chris Bogart" President & CEO
Cautionary Statement: Neither the CSE nor the TSX Venture Exchange has in any way passed upon the merits of the transaction and neither has approved nor disapproved the contents of this press release. Commencement of trading on the CSE is subject to final CSE acceptance.
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.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
For further information: Choom Inc., Chris Bogart, President & CEO, T: 604.683.2509, F: 604.683.2506, E: [email protected]