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Choom Announces Phivida Shareholder Approval of Arrangement
Choom Announces Phivida Shareholder Approval of Arrangement.
About this update from Choom Hldgs Inc.
[{"type":"text","content":"\n\n\n\nChoom Announces Phivida Shareholder Approval of Arrangement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nChoom Announces Phivida Shareholder Approval of Arrangement\nCanada NewsWire\nVANCOUVER, BC, Sept. 4, 2020\n\n\n\nVANCOUVER, BC, Sept. 4, 2020 /CNW/ - Choom™ (CSE: CHOO) (OTCQB: CHOOF), an elevated adult use cannabis company that has secured one of the largest national retail networks in Canada is pleased to announce that the shareholders of Phivida Holdings Inc. (\"Phivida\") have approved the plan of arrangement with Choom (the \"Arrangement\") previously announced on June 2, 2020. \nThe Company expects that Phivida will apply for a final order of the Supreme Court of British Columbia for approval of the Arrangement to be heard on or about September 9, 2020. Assuming the satisfaction or waiver of the other closing conditions thereof, the implementation of the Arrangement and the closing of the acquisition of Phivida by Choom is expected to occur on or about September 11, 2020.\nThe Company also announces that it has granted an aggregate of 4,000,000 restricted share units (\"RSUs\") to executive officers of the Company, such RSUs to vest as to 50% on the date of grant with 25% to vest every three months thereafter and to be governed by the Company's RSU Plan.  All of the RSUs will be subject to applicable securities law hold periods.\nAbout Choom™: \nChoom™ is a fast-expanding retail cannabis company who has established one of the largest store 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 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. \nCautionary Statement: \nNEITHER THE CANADIAN SECURITIES E...