A Choom Investment Holding Receives Two Production and Processing Licenses from Health Canada
VANCOUVER, Oct. 24, 2019 /PRNewswire/ - 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 Sitka Weedworks (formerly Specialty Medijuana Products Inc.), of which Choom is 9.8% equity stakeholder, has received two production and processing licenses from Health Canada. These licenses allow for the production and sale of a wide range of cannabis products, including dried flower, pre-rolls, oils, capsules, edibles, vaporizer pens, and more. Sitka Weedworks is currently producing 2,200 plants in its production facilities, with plans to lease additional cultivation spaces to 53 cannabis micro-cultivators. This micro-cultivator platform will be among the first in Canada to deliver small-batch craft cannabis to the legal market.
Additionally, Choom is pleased to acknowledge a proposed change in British Columbia's regulatory system concerning the direct sale of cannabis products by licensed producers ("Farm-Gate Sales"). Comments made by B.C. Solicitor General Mike Farnsworth have set the stage for the approval of Farm-Gate Sales in British Columbia, though the expected timeline of these changes is not defined.
Say hello to Choom™
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.
"Corey Gillon"
President
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, access to sufficient quantities of cannabis, the results of diligence investigations, the actions of third parties, 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 those made with the CSE and applicable Canadian securities regulators. There can be no assurance that such forward looking 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.
SOURCE Choom Holdings Inc.
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