VANCOUVER, April 29, 2019 /CNW/ - Choom™ (CSE: CHOO; OTCQB: CHOOF) is pleased to announce that on Friday, April 26, 2019, the Alcohol and Gaming Commission of Ontario ("AGCO") issued a Retail Operator Licence to Lisa Bigioni, and issued a Retail Store Authorization for her Choom-branded cannabis store in Niagara Falls, Ontario, which is expected to open in May 2019.
In accordance with the AGCO's requirements, Ms. Bigioni, as a licensed operator, may finalize her store set-up, including ordering and receiving cannabis product and cannabis accessories into her store ahead of opening for business. The AGCO will also conduct a pre-opening inspection to ensure the store is ready to open for business and sell cannabis products to the public in accordance with all applicable regulations.
Choom and Ms. Bigioni have entered into various definitive agreements, including a licence agreement under which Choom provides its trademarks and branding for the retail store, and an option agreement pursuant to which Choom has the option to acquire, subject to the approval of the AGCO, the retail store after the completion of the lottery process, which expires in December 2019.
"This is a very exciting time for Choom as we help Lisa to open her store in Niagara Falls using the Choom brand." states Chris Bogart, President & CEO of Choom Holdings Inc. "With our expertise in the cannabis retail channels, we are delighted to work with Lisa as she looks forward to opening and operating her Choom-branded store in Niagara Falls. The Niagara region represents a tremendous opportunity for her cannabis retail store, with well over 400,000 people living in the regional municipality and welcoming over 14,000,000 visitors a year."
Lisa Bigioni states "I'm excited to serve the Niagara community with expertise from Choom. Their extensive work in regulated retail markets lends to deep expertise in store setup and operation, but more importantly, brings a focus on education and a dedication to serving the community that I look forward to bringing to my store. I'm excited to welcome everyone to our Choom Niagara store in May."
SAY HELLO TO CHOOMTM
Choom™ is an emerging adult use cannabis company whose mission is to establish one of the largest retail networks in Canada and the United States. 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 caters to the Canadian adult use market with the ethos of 'cultivating good times'. Choom™ is focused on delivering an elevated customer experience through our curated retail environments, offering a diversity of brands for Canadians across a national retail network.
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 or arising as a result of delays in obtaining or an inability to obtain required regulatory approvals (such as AGCO approvals relating to opening a Choom-branded store), access to sufficient quantities of cannabis, the results of diligence investigations, the actions of third parties, the results of negotiations with third parties, developments in the cannabis sector, the 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 those made with the CSE and applicable Canadian securities regulators. There can be no assurance that such forward looking 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]