Choom Holdings Inc (OTCMKTS:CHOOF) has submitted an application for the Master Retail License for the sale of recreational cannabis in response to the Request for proposal (RFP) issued by Manitoba. The sale of recreational cannabis will commence on October 17, 2018.
Choom can use the license to operate an e-commerce platform as well as the retail cannabis stores. It helps to become a dominant player in the cannabis space in Canada. Chief Executive Officer and President of Choom, Chris Bogart said the RFP is competitive and the master license will provide an opportunity for the company to market the products either online or directly to the consumers.
The customers in Manitoba will get an access to the sophistication and style when they make a visit to a store. The company has created the Choom Gang inspired Choom Brand so that customers will get access to the retail cannabis.
The company already holds rights for operating 52 retail stores in Western Canada. It is rapidly expanding the footprint and holds 29 leases in secure and strategic locations of Alberta. The company is also pursuing six retail opportunities across Saskatchewan and seventeen retail opportunities across B.C. It has also obtained development permits in eleven municipalities and now establishing retail stores.
Aggressive Plans to Promote Adult Use of Cannabis in Canada
The company is also in the process of taking over retail stores to promote the use of cannabis for adult use in Canada. It is also negotiating for additional leases to promote growth.
The company has also completed the private placement of 14.084 million common shares on June 18, 2018. It has mobilized funds worth $10 million.
Choom Finds Place in CSE 25 Index
Choom is added to the CSE 25 Index of Canadian Securities Exchange. This change will come into effect on September 21, 2018. Chris Bogart is very happy about the inclusion of Choom in the CSE 25 Index. Choom becomes one of the best performers in the CSE by attracting large trading volume.
Brief Information about Choom Holdings Inc
Choom Holdings Inc is engaged in the production of cannabis for adult and medical use. It has obtained sale license from Health Canada.