Choom
Enters into LOI
with Cannabis
Retail Store
Applicant
Vancouver,
BC February 13, 2019 -- InvestorsHub NewsWire --
Choom (CSE:
CHOO; OTCQB: CHOOF) is pleased to announce
that it has entered into a letter of intent agreement ("LOI") with one of the 25 Cannabis
Retail lottery winners to open a location in Ontario. Choom, an
emerging adult use cannabis retailer, is building out one of the
largest retail cannabis networks in Canada.
The LOI is with a winner of one of the
25 retail opportunities
to apply for a
license to operate a cannabis retail store granted as a result of
the Alcohol and Gaming Commission of Ontario's ("AGCO")
Expression of
Interest Application Lottery conducted on January 11,
2019.
"Being able to
get an early start to establish Choom's presence in the private
retail market in Ontario through an agreement with a lottery winner
is a remarkable milestone for Choom. We are thrilled that the
lottery winner chose Choom to help them successfully open and operate
a retail cannabis store in Ontario." stated Chris Bogart,
President and CEO of Choom. "With our branding and execution,
consumers can expect a unique experience accompanied with
knowledgeable staff, style, and sophistication reflected throughout
the store design. Our goal is to ensure customers leave the store
knowing more about what they're purchasing and creating a high
retention customer base."
CHOOM'S
NATIONAL RETAIL NETWORK
Choom is
currently developing a network of retail stores which will feature
a curated selection of products from various licensed producers
with a strong focus on elevated customer experiences for the adult
use market. Choom has secured the rights
to 54 retail opportunities across Western Canada, rapidly expanding
their commercial footprint in highly strategic locations. This
includes a total of 46 applications submitted in Western Canada with 10
stores under construction and an additional 17 stores
having completed their build out. In all cases, the retail
opportunities are subject to all the necessary provincial and
municipal governmental approvals.
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. The Choom brand is
inspired by Hawaii's "Choom Gang"a group of buddies in Honolulu
during the 1970's who loved to smoke weedor
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.
"Chris
Bogart"
President
&
CEO
Contact:
Choom
Holdings Inc.
Chris
Bogart
President &
CEO
T:
604.683.2509
F:
604.683.2506
E:
chris@choom.ca
Alex
Porporo
Investor
Relations
T: 604.683.2509
Ext. 231
F:
604.683.2506
E:
alex@choom.ca
Cautionary
Statement:
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 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, the results of diligence investigations, 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 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.