Business
Choom: Four LP Applicants and a Killer Cannabis Brand -- CFN Media
Choom: Four LP Applicants and a Killer Cannabis Brand -- CFN Media.
About this update from Choom Hldgs Inc.
[{"type":"text","content":"\n\n SEATTLE, April 05, 2018 (GLOBE NEWSWIRE) -- CFN Media Group (“CFN Media”), the leading agency and financial media network dedicated to the North American cannabis industry, announces publication of an article covering Choom™ Holdings Inc. (CSE:CHOO) (CNSX:CHOO) (CHOO.CN) (OTCQB:CHOOF) and its recent progress in securing production capacity and building the foundation for its retail cannabis network.\n When the Choom Gang formed in Honolulu in the 1970’s, the group of friends were simply focused on living a relaxed lifestyle filled with island good times and choom, the local term for marijuana. Forty years later, the pipe dream of legal marijuana is coming to fruition and Choom™ Holdings is building a recreational cannabis business around that relaxed lifestyle. With a plan to cultivate good times for its customers, Choom is quickly laying the groundwork for a retail cannabis operation to take advantage of Canada’s upcoming legalization. In a recreational market estimated to be in the neighborhood of $10.2 billion by 2023, the opportunity is substantial, according to recent industry reports. Follow the link to get Choom's corporate presentation and company updates. Four Licensed Producer Applicants Choom™ has acquired, or has agreements to acquire, four late-stage licensed producer applicants. The most recent agreement, to acquire Saskatchewan-based applicant High Way 10  and its parent company Flower Power Cannabis Pharms, represents a departure from the previous deals in a couple of important ways. First, the other three producers are based in British Columbia, so the new deal represents geographical diversity that could become very important in the upcoming recreational market. While the federal government is creating the general legal framework for the industry, provinces are left to their own devices in setting up the details of the retail distribution system. In March, the Saskatchewan Liquor and Gaming Authority (SLGA) announced they would be issuing 51 retail permits (that number is limited for the first three years to ensure a controlled roll-out) to private companies, while the SLGA would regulate both the wholesale and retail market. Flower Power is currently involved in the application process with SLGA and hopes to secure retail licenses in sever...