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Choom Signs LOI to Enter Florida Market Through Investment in Vertically-Integrated Cannabis Applicant
Choom Signs LOI to Enter Florida Market Through Investment in Vertically-Integrated Cannabis Applicant.
About this update from Choom Hldgs Inc.
[{"type":"text","content":"\n\n\n\nChoom Signs LOI to Enter Florida Market Through Investment in Vertically-Integrated Cannabis Applicant\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 Signs LOI to Enter Florida Market Through Investment in Vertically-Integrated Cannabis Applicant\nPR Newswire\nVANCOUVER, March 25, 2019\n\n\n\nVANCOUVER, March 25, 2019 /PRNewswire/ - Choom Holdings Inc. (Choom™) (CSE: CHOO) (OTCQB: CHOOF) (\"Choom\"), an emerging adult and medical use cannabis company that has secured one of the largest national retail networks in Canada, is pleased to announce, following its strategy to become a multi-state operator, that it intends to expand into Florida.  Choom, through its wholly owned US subsidiary, Choom Holdings USA Inc., has signed a letter of intent (\"LOI\") to purchase a 95% equity interest in a Florida-based vertically-integrated cannabis applicant (the \"FL Company\").\n\n \n \n\n \nThe FL Company is progressing on its Master License application to operate up to 25 retail locations with potential for more as the number of registered patients increase, as well as, a micro-processing and cultivation facility for medical purposes. Upon completing the transaction, Choom will use its medical brand, Clarity Medical Centres, to create a network of branded Medical Marijuana Treatment Centers.  Florida's medical marijuana program has over 190,000 qualified patients, up from approximately 168,000 at the start of 2019, making it the largest medical marijuana market in the United States.  Florida has recently allowed the use of smokable medical marijuana products, potentially opening the program to a considerably larger audience.\n\"We are very excited to be expanding into Florida and to bring Choom's medical brand into that market.  Florida's medical marijuana program is a very attractive opportunity for us seeing that it allows for vertically-integrated operations and it has been a market we've had our sights on for a while now.\" states Chris Bogart, President & CEO of Choom. \"This investment aligns with our strategy of becoming a mul...