Choom Strengthens Ontario Retail Leadership

Date : 12/11/2018 @ 11:00AM
Source :InvestorsHub NewsWire
Stock : Choom Hldgs Inc. (QB) (CHOOF)
Quote : 0.3158  0.0078 (2.53%) @ 9:11PM

Choom Strengthens Ontario Retail Leadership



Choom Strengthens Ontario Retail Leadership
Secures Multiple Ontario Retail Locations

 
Vancouver, BC -- December 11, 2018 -- InvestorsHub NewsWire -- Choom™ (CSE: CHOO) (OTCQB: CHOOF) (the "Company" or "Choom") an emerging adult use cannabis company that has secured one of the largest national retail networks in Canada, is pleased to announce two executive additions to the recently-formed Ontario Retail Team: Lamar Hanna as Senior Vice President Retail, Ontario and David Schenk, Regional Operations Manager, Ontario.  Choom is also pleased to announce an update of its Ontario retail strategy in which 90 offers to lease are currently under negotiation, with 20 leases secured.

Chris Bogart, President & CEO states, “The private retail market in Ontario provides the greatest opportunity across Canada for cannabis retailers. This channel in Ontario is poised to be larger than all the other private cannabis retail channels in Canada combined. The additions of Dr. Hanna and Mr. Schenk will bolster the Choom team by bringing retail operations experience from the highly regulated retail pharmaceutical and cannabis clinic industries.  As we approach the opening of the Ontario application portal in December, securing locations, building stores, and developing a team remains our top priorities.  With their knowledge and best practices in the retail of controlled substances, Dr. Hanna and Mr. Schenk will greatly expedite Choom’s retail strategy in Ontario.”

Choom’s National Retail Network
Choom is currently developing a network of retail stores which will feature a curated selection of products from various licensed producers with a strong focus on elevated customer experiences for the adult use market. In Ontario, Choom currently has 90 offers to lease under negation with 20 leases secured in preparation for the application portal opening December 17, 2018.  Choom is on track to having the maximum allowable of 75 applications in Ontario and is rapidly working towards the April 2019 deadline when Ontario’s private retail channels are expected to come online.

Additionally, Choom has secured the rights to 68 retail opportunities across Western Canada, rapidly expanding their commercial footprint presence in highly strategic locations. This includes a total of 50 applications submitted, with 35 development permits received from the various municipalities. In Western Canada, 10 stores are currently under construction with an additional 7 stores having completed their build out.

Dr. Lamar Hanna
Dr. Hanna attended graduate school at Wayne State University where he received his Doctor of Pharmacy degree. Lamar was the sole recipient of the Natural Medicine Award in his graduating year, and has since continued to educate himself, implementing a unique array of natural health and wellness categories into traditional pharmacy operations.  Lamar owns and operates five retail pharmacies across Southwestern Ontario, where he has various supplementary programs such as travel immunization clinics, in-store Coumadin INR testing, cholesterol testing, an array of weight-loss programs and medical cannabis consulting services.   

David Schenk
Mr. Schenk graduated from Wilfrid Laurier University with a Bachelor of Arts, double major in Economics and Psychology.  Mr. Schenk originally began his career working in the capital markets until 2014, where he was the CEO of Caribbean Earth Energy Renewables Inc.  In 2018, Mr. Schenk initiated The Clinic Network in Waterloo and acts as manager of Waterloo Medical Cannabis Clinic.  Mr. Schenk has quickly attained expertise in the execution of marketing strategies related to cannabis clinics, staff training and education, client education, as well as managing the day to day of clinic and staff operations.
 
SAY HELLO TO CHOOMTM
Choom™ is an emerging adult use cannabis company that has secured one of the largest retail 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 adult use market with the ethos of cultivating ‘Good Times with Good Friends’. 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. 

“Chris Bogart”
President & CEO

Contact: Choom Holdings Inc.

Chris Bogart
President & CEO
T: 604.683.2509
F: 604.683.2506
E: chris@choom.ca

Alex Porporo
Investor Relations
T: 604.683.2509 Ext. 231
F: 604.683.2506
E: alex@choom.ca


Cautionary Statement:

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
          
Forward-looking information               

This news release contains forward-looking information relating to the Company's proposed activities and other statements that are not historical facts. Forward-looking information relates to management's future outlook and anticipated events or results, and include statements or information regarding the future plans or prospects of the Company. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. These factors include risks and uncertainties associated with the results of diligence investigations, developments in the cannabis sector, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, reliance on key personnel, regulatory risks and delays and other risks and uncertainties discussed in the management discussion and analysis section of the Company's interim and most recent annual financial statement or other reports and filings, including the Company’s Listing Statement, made with the applicable Canadian securities regulators. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information.
 

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