Business
Choom™ Signs Letter of Intent to Acquire Late Stage Saskatchewan ACMPR Applicant and Retail Brand
Choom™ Signs Letter of Intent to Acquire Late Stage Saskatchewan ACMPR Applicant and Retail Brand.
About this update from Choom Hldgs Inc.
[{"type":"text","content":"\n\n\n\nChoom™ Signs Letter of Intent to Acquire Late Stage Saskatchewan ACMPR Applicant and Retail Brand\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 Letter of Intent to Acquire Late Stage Saskatchewan ACMPR Applicant and Retail Brand\nCanada NewsWire\nVANCOUVER, March 28, 2018\n\n\n\nVANCOUVER, March 28, 2018 /CNW/ - Choom™ (CSE: CHOO; OTCQB: CHOOF) (the \"Company\" or \"Choom\") is pleased to announce that it has signed a Letter of Intent (\"LOI\") to acquire Flower Power Cannabis Pharms Inc. (\"Flower Power\" or the \"Target\"), a retail brand experience cannabis company, and its wholly-owned subsidiary High Way 10 Cannabis Pharms Inc. (\"High Way 10\"), another advanced-stage cannabis production license applicant under the Access to Cannabis for Medical Purposes Regulations (\"ACMPR\"). High Way 10 is located in southern Saskatchewan and is in the active review stage of Health Canada's application process under the ACMPR. \n\n\n \n \n\n \nHigh Way 10's initial 16,000 sq. ft. facility is located on a 120-acre parcel of land providing ample room for future expansion and is capable of producing approximately 1500 kg of dried cannabis per annum. \n\nFlower Power is advancing their retail store experience strategy across the country, beginning in their home province of Saskatchewan. The company is focused on creating a consumer experience that elevates and evolves the traditional dispensary vibe and intends to have a hybrid of corporately owned and franchised dispensaries subject to the formal legalization of recreational cannabis by Health Canada and provincial and municipal guidelines. Flower Power is actively working through Saskatchewan's retail dispensary permitting and RFP process for the lottery to secure the right to receive a license in multiple markets in the province.\n\nChris Bogart, President and CEO of Choom™ states, \"We are very pleased Choom™ has increased its total production capacity with the addition of potentially our fourth advanced stage applicant. Upon completion of the tenant improvements wi...