VANCOUVER, April 17, 2018 /CNW/ - Choom™ (CSE: CHOO; OTCQB: CHOOF) (the "Company" or "Choom") an emerging, fully-integrated cannabis company, is pleased to announce that it has advanced the build-out of its cannabis retail store network.
Choom™ has applied to Saskatchewan Liquor and Gaming Authority ("SLGA") for cannabis retail permits in 32 Zones across the province. The SLGA has made 51 cannabis retail permits available in 32 zones through a Request for Proposal process and is expected to award the permits via lottery by June, 2018.
Additionally, Choom™ has secured the rights to 16 retail locations in Alberta and British Columbia, in all cases, subject to all necessary governmental approvals being granted. This number is excepted to grow over the coming months as the Company is currently negotiating additional leases with the intention of submitting applications for retail licenses.
"This is a significant step towards delivering the Choom™ experience of 'good times with good friends' for Canadians across the country," states Choom's president and CEO, Chris Bogart. "We have now established a footprint to position Choom™ as a leading private cannabis retailer in Western Canada. We will continue to pursue retail licensing opportunities across the country and remain committed to serving all Canadians in the coming consumer cannabis market. Choom's vision of delivering an elevated customer experience through our curated retail environments, with the creation of modern, stylish storefronts is well underway."
9 retail locations secured, and applications submitted
32 applications submitted
7 retail locations secured
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. Choom™ is 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.
We're planting our flag in the rapidly growing legal cannabis industry in Canada with our own brand of high-grade handcrafted herb.
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 plans to obtain directly or through acquisition cannabis retail opportunities, expected governmental approvals for cannabis retail stores, and the general prospects or plans for a cannabis retail network. 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, F: 604.683.2506, E: [email protected]; Chris Gagan, SVP Branding, Marketing, T: 604.683.2509, F: 604.683.2506, E: [email protected]