Choom Holdings Inc. continues to grow its cannabis retail network by announcing today that they are making an equity investment in a New Jersey Cannabis Retailer. New Jersey is home to over 9 million people currently being served by only 12 cannabis operators in its medical program.
In the deal Choom will work the NJ Company to open an entire network of Choom branded stores, and will assist the NJ Company in the buildout and operations of the new cannabis retail stores
“This is our first step into the United States, and we are very excited for our partnership with this experienced group to have the Choom Brands in New Jersey.” states Chris Bogart, President & CEO of Choom Holdings Inc.
The NJ Company is advancing on its retail store strategy in New Jersey with the intention of receiving licenses to operate the maximum allowable cannabis stores for medical and eventually adult use when formally approved by the State.
This is a big deal for Choom to break into the US Market, and adds to their already substantial Canadian national cannabis retail network that includes the following opportunities:
- British Columbia
- 8 Opportunities
- 30 total stores
- 3 Open Stores
- 9 Stores fully built-out and waiting for Approval
- In addition to the three licensed cannabis retail stores, the acquisition includes:
- All 30 leases secured and applications submitted to the AGLC by Clarity.
- 11 development permits awaiting construction
We’ve been saying that retail cannabis could be the next big investment boom for a while, and Choom is taking some big steps towards retail dominance in Canada, and now the US.
READ RELEASE BELOW
Choom™ (CSE: CHOO) (OTCQB: CHOOF), an emerging adult and medical use cannabis company that has secured one of the largest national retail networks in Canada, is pleased to announce it is entering the United States, starting with the state of New Jersey. Choom through its wholly owned US subsidiary, Choom Holdings USA Inc., has signed a letter of intent (“LOI”) to purchase an equity interest in a New Jersey based (the “NJ Company”) medical retail dispensary applicant in New Jersey’s upcoming Request of Applications (“RFA”) that also intends to enter into recreational cannabis retail upon legalization, which is anticipated in 2020.
The NJ Company is advancing on its retail store strategy in New Jersey with the intention of receiving licenses to operate the maximum allowable cannabis stores for medical and eventually adult use when formally approved by the State. With these licenses, the NJ Company intends to create a network of branded stores using Choom’s medical brand, Clarity Medical Centres, or Choom (“Choom Brands”) for its recreational retail stores in the future. Choom will assist the NJ Company in this highly regulated market for the buildout and operations of cannabis retail stores. Choom will receive a royalty from the NJ Company for the use of the Choom Brands. Choom’s investment in the NJ Company includes pro rata rights to maintain its equity interest on future financings.
“This is our first step into the United States, and we are very excited for our partnership with this experienced group to have the Choom Brands in New Jersey.” states Chris Bogart, President & CEO of Choom Holdings Inc. “New Jersey is home to over 9 million people currently being served by only 12 cannabis operators in its medical program. New Jersey is an exceptional market to expand the Choom Brands. We are very impressed with the progress they have achieved to date, and with our expertise in cannabis retail, we are confident we can help them successfully operate in the New Jersey market.”
The terms are not material.
Say hello to Choom
Choom™ is an emerging adult use cannabis company that has secured 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 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 with Good Friends’. 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
Please see full disclaimers at www.TheSeedInvestor.com applicable to all content provided by TSI, wherever published or re-published: http://theseedinvestor.com/about/disclaimer
Disclaimer: This release/advertorial is a commercial advertisement and is for general information purposes only. This release/advertorial does not constitute an offer or solicitation to buy or sell any securities or individualized investment advice. This is a native advertisement, meaning it is an informational paid marketing piece. THESEEDINVESTOR.com (TSI) makes no recommendation that the securities of the companies profiled or discussed on this website should be purchased, sold or held by viewers that learn of the profiled companies through our website. Please review all investment decisions with a licensed investment advisor. TSI receives payments ranging from approximately $25,000 to $150,000 to publish and/or distribute advertisements on behalf of a company. TSI retains any excess sums after expenses as its compensation. TheSeedInvestor.com and its owners, operators and affiliates may benefit from any increase in the share prices of the profiled companies. TheSeedInvestor.com may be paid for services using options or free-trading shares. TheSeedInvestor.com and/or its owners, operators and affiliates may be selling shares of stock at the same time the profile (or other information) is being disseminated to potential investors; TheSeedInvestor.com will not advise when it or its affiliates decide to sell. Investors must make all investment decisions based on their own judgment of the market and the particular securities.
This advertorial contains forward-looking statements that involve risks and uncertainties. This advertorial contains or incorporates by reference forward-looking statements, including certain information with respect to plans and strategies of the featured company. As such, any statements contained herein or incorporated herein by reference that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, the words “believe(s),” “anticipate(s),” “plan(s),” “expect(s),” “project(s),” “will,” “make,” “told,” “could,” “might,” and similar expressions are intended to identify forward-looking statements. There are a number of important factors that could cause actual events or actual results of the company to differ materially from these indicated by such forward-looking statements. Certain statements contained herein are forward-looking statements as defined in Section 27A of the Securities Act of 1933 and 21E of the Exchange Act of 1934. Such statements include, without limitation, statements regarding business, financing, business trends, future operating revenues and expenses. There can be no assurance that such expectations will prove to be correct. Investors are cautioned that any forward-looking statements made by the company, or contained in this advertorial are not guarantees of future performance, and that the issuer’s actual results may differ materially from those set forth in the forward-looking statements. We undertake no obligation to update any statements made herein except as required by law. Differences in results can be caused by various factors including, but not limited to, the company’s ability to be able to successfully complete planned funding agreements, to successfully market its products in competitive industries or to effectively implement its business plan or strategies. To reiterate, information presented in this advertorial contains “forward-looking statements.” Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions, or future events or performance are not statements of historical fact and may be “forward-looking statements.” Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. More information on the company may be found at http://www.sec.gov where readers can review all public filings submitted by the company. TheSeedInvestor.com is not a certified financial analyst or licensed in the securities industry in any manner. The information in this advertorial is subjective opinion and may not be complete, accurate or current and was paid for, so this could create a conflict of interest.