This is a huge deal for ChoomTM this leave them give or take around $9M+ in the bank, and with their newest aquistion, they now have 3 different locations to outfit for growing Cannabis. This financing will help enusre they see each of their projects through the licensing phases.
ABcann Global (TSXV: ABCN, OTCQB: ABCCF) is considered one of Canada's largest and strongest growers. And with their recent $75 million financing they have put a cool $135 Million in the bank over just 11 months. It was just a matter of time before they went shopping.
This investment is a departure for ABcann, as they are focused on the medical marijuana market.
For ABcann it is their first step into the recreational market by investing in a brand squarley focused on upcoming recreational cannabis market, and ChoomTM is one of stronger recreational brands in the country.
In addition to the financing, ABcann also signed a supply agreement with ChoomTM, providing premium cannabis products for their coming retail stores."ABcann remains committed to becoming a global leader in the cannabis sector. With our strategic investment in Choom, we are signaling a strong move into the recreational market with one of the premium recreation brands in Canada,” stated Barry Fishman, CEO of ABcann.
"The Supply Agreement will demonstrate our commitment to becoming one of Canada's leading retailers in the cannabis space. Working with ABcann will provide us with a premium line of products, with a strong focus on quality, in the roll-out of our retail store strategy," stated Chris Bogart, President and CEO of Choom™
ChoomTM is well postioned to continue their path in becoming the premium Canadian recreational cannabis brand.
Read the original release for the full details. Click Here.