VANCOUVER , Aug. 13, 2019 /CNW/ – Choom™ (CSE: CHOO; OTCQB: CHOOF), an emerging adult use cannabis company that has secured one of the largest national retail networks in Canada , is pleased to announce that it has signed a purchase agreement (the “Agreement”) to acquire Ninetails Cannabis Inc. (“Ninetails”), a licensed cannabis retail store in Whitehorse , Yukon .
Ninetails is located in Whitehorse’s downtown area at 204 Main St. Upon closing of the acquisition and receiving the necessary regulatory approvals from the Yukon Liquor Corporation (“YLC”), the Ninetails store will be opened as a Choom-branded store once it has completed construction.
“We are excited for our cannabis retail network to expand into the Yukon ,” states Chris Bogart , President and CEO of Choom Holdings Inc. “We have identified the Yukon as a largely underserved cannabis market opportunity which falls in line with our aggressive expansion strategy across Canada. Consumers in the Yukon can expect style and sophistication accompanied by knowledgeable staff in a welcoming retail environment, consistent with the Choom look and feel we’re rolling out across the rest of our retail network.”
For more information, visit choom.ca.
Terms are not material.
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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 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’. 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.
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NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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.
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