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Choom™ Signs Definitive Amalgamation Agreement to Acquire Late Stage ACMPR Applicant with Affirmation of Readiness Evidence Package Submitted to Health Canada
Choom™ Signs Definitive Amalgamation Agreement to Acquire Late Stage ACMPR Applicant with Affirmation of Readiness Evidence Package Submitted to Health Canada.
About this update from Choom Hldgs Inc.
[{"type":"text","content":"\n\n\n\nChoom™ Signs Definitive Amalgamation Agreement to Acquire Late Stage ACMPR Applicant with Affirmation of Readiness Evidence Package Submitted to Health Canada\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 Definitive Amalgamation Agreement to Acquire Late Stage ACMPR Applicant with Affirmation of Readiness Evidence Package Submitted to Health Canada\nPR Newswire\nVANCOUVER, March 19, 2018\n\n\n\nVANCOUVER, March 19, 2018 /PRNewswire/ - Choom™ (CSE: CHOO; OTCQB: CHOOF) (the \"Company\" or \"Choom\") is pleased to announce that the Company has entered into a definitive amalgamation agreement, effective March 16, 2018 (the \"Definitive Agreement\"), among itself, its wholly-owned subsidiary, Arbutus Brands Inc. (\"Arbutus Brands\"), and International Tungsten Inc. (\"ITI\"). Pursuant to the Definitive Agreement: (i) Arbutus Brands will amalgamate with ITI, with the amalgamated company remaining a wholly-owned subsidiary of the Company operating under the name of Arbutus Brands, and (ii) all of the issued and outstanding securities of ITI will be exchanged for securities of Choom (the \"Transaction\"). ITI has entered into an agreement to acquire all of the issued and outstanding securities of Specialty Medijuana Products Inc. (\"SMP\"), an applicant under the Access to Cannabis for Medical Purposes Regulations (the \"ACMPR\"), that has submitted its Affirmation of Readiness (\"AOR\") evidence package to Health Canada and expects to receive a cultivation license from Health Canada within the next several weeks. \n\n\n \n \n\n \nTransaction Highlights \n\nThe expected benefits of the Transaction for Choom™ include that it will:\n\n\nenable Choom™ to acquire a company in British Columbia that has submitted its AOR evidence package to Health Canada and expects to receive its cultivation license in the next few weeks; \ncreate significant synergies in operational infrastructure and expertise across multiple disciplines to drive strong growth potential;\nsignificantly improve and advance operational scale and production capacity...