The Seed Investor’s top marijuana stock pick (full report available here) just took two major steps forward in becoming a major, full spectrum marijuana retail powerhouse.
Choom Holdings (CSE:CHOO/US:CHOOF) made two announcements earlier this morning.
The first announcement was Choom’s acquisition of a sizeable and well-positioned marijuana company.
Technically, through its subsidiary Arbutus Brands, Choom is acquiring International Tungsten Inc, which is the owner of Specialty Medijuana Products Inc.
Basically, this means Choom is acquiring Specialty Madijuana Products....
And it’s a big deal.
Specialty Medijuana is a diverse company with direct retail brands which will supplement Choom’s beachhead in the retail marijuana market that’s expected to open up later this year.
That move will play big later this year after Canada opens up the retail marijuana market and the legal marijuana industry takes its largest step forward ever.
Right now though, Specialty Medijuana is in the final stages of the marijuana production licensing process and expects to receive it’s license within “the next few weeks.”
That’s the real key here and why the Seed Investor believe’s Choom was the hottest stock on the markets today.
Specialty Medijuana has major expansion plans from it’s current 10,000 square foot marijuana production facility in British Columbia.
The next phase of construction will expand the growing facility to 29,000.
The next phase after that will be to a total potential of 700,000 square foot facility.
Add in that to Choom’s current growth facility plans of 50,000 square feet and you’ve got a monster 750,000 square foot of growing capacity.
That size facility will put Choom on par with the many of the largest marijuana companies which are currently valued at more than 100x more than Choom is today.
Again, this is a big deal by itself.
However, it wasn’t the only news today though.
Choom also announced a major financing deal and partnership with ABcann Global.
ABcann is the most efficient and technologically-advanced major marijuana grower in all of Canada (not to mention a past Seed Investor recommendation that went up more than 400% from the recommendation price).
ABcann has attracted more than C$130 million over the last year to fund its growth and was one of the big winners of 2017.
ABcann is committed to funding Choom’s acquisition and growth by committing C$4 million today directly into Choom.
The total financing announcement will add C$7 million to Choom’s coffers at a price of 90 cents per share.
If you want to know what a future marijuana powerhouse looks like when it’s still valued at around C$100 million, this is it.
Strategic aquisitions, partnerships, and financings will add to Choom’s position as a future leading retailer in Canadian marijuana.
And it’s all doing it just a few months before recreational use marijuana goes fully legal in Canada later this year.
When the Seed Investor identified Choom Holdings (CSE:CHOO/US:CHOOF) as a top marijuana stock for 2018, it had sizeable growth potential for early investors as a
recreational-use-focused marijuana company at a time when when recreational use marijuana set to go legal.
Now, it’s on it’s way to being a full-spectrum marijuana company with large growing operations and access to end users and the growth potential is bigger.
We’ll be back later with some updates to the latest Seed Investor report that ties in all of today’s news.
For now, we’re just excited to a good opportunity like Choom Holdings (CSE:CHOO/US:CHOOF) turn into a great opportunity.
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