On May 23, 2018, we published revised versions of our Privacy Policy and User Agreements. Please read these updated terms and take some time to understand them. Your use of our services is subject to these revised terms.
Yes, I Agree.

Choom Holdings Inc. (CSE: CHOO) (OTCQB: CHOOF) Evokes Good Times Vibe in Build up to Canadian Marijuana Legalization

  • Canada expects to make recreational marijuana use legal nationwide later this year
  • Legalized revenues have forecast potential to reach up to $8.7 billion, with more than $20 billion for ancillary services
  • CHOOF invites ‘good people’ to open franchise retail dispensaries

While winter days in frigid northern climates mean snow and cold winds, a company in Canada’s British Columbia is embracing the timeless warmth of Hawaii’s laid-back lifestyle. Choom™ Holdings Inc. (CSE: CHOO) (OTCQB: CHOOF) is building a friendly entry into the country’s growing legalized cannabis industry as it awaits final stage approval of its Access to Cannabis for Medical Purposes Regulations (“ACMPR”) license and application to serve the anticipated recreational marijuana market once full nationwide legalization takes place later this year.

In early February, the company announced it was seeking ‘good people’ interested in opening their own Choom™ store retail dispensary franchises across Canada, wherever marijuana is legalized. “We’re inviting people to open a dispensary with a world class brand built exclusively for the recreational cannabis market. We’re encouraging entrepreneurs to join our family by registering for their own Choom™ store,” President and CEO Chris Bogart stated in a news release about the proposal. “We are telling our Choom™ story with our stores and will elevate the concept of a high-quality product through our new retail environments, and we’re inviting others to join us.”

A Deloitte survey of attitudes in 2016 arrived at the conclusion that revenues for the legalized market may reach anywhere from $4.9 billion to $8.7 billion with ancillary markets that could top $20 billion; these are figures that Choom™ Holdings has taken note of while planning its expansion strategy as the end of cannabis prohibition nears.

“This is a once in a lifetime opportunity for you to enter a potential Multi-Billion Dollar industry,” the company’s website states. “Marijuana dispensaries in legalized states in the US make more per square foot than Whole Foods, and you can get in on the ground floor in the Canadian Market.”

According to the company’s investor presentation made in November, by 2021, the recreational marijuana industry that Choom™ Holdings exclusively aims to serve is expected to be almost eight times the size of the medical marijuana industry, which is served by Choom’s Medi-Can Health Solutions Ltd. subsidiary, with benefits spilling over into the tourism industry, governmental tax and licensing coffers, and paraphernalia manufacturing market. Its nimble business model aims to be ready from the ground up to adapt to the changing cannabis landscape as recreational use becomes legal. Choom™ has a planned production facility capable of putting out 660 kg of dried cannabis per year and plans a second phase expansion that would take it to 2,400 kg per year at two British Columbia locations. Choom™ obtained C$2.7 million in financing through a non-brokered private placement in February, following on another $1 million raised to advance its efforts in December shortly after the company began trading on the Canadian Securities Exchange and shortly before beginning trading on the OTCQB exchange in the United States.

“Our products will be focused on cultivating good times and good friends,” the company’s website states. Choom™ refers to an old Hawaiian term for people who hang out and smoke weed, evocative of that spirit of adventure and fun that the company wants to promote.

For more information, visit the company’s website at www.Choom.ca

More from NetworkNewsWire

About NetworkNewsWire

NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

For more information, please visit https://www.NetworkNewsWire.com

Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer

NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com

Archives

Select A Month

Contact us: 212.418.1217