The common shares of Choom Holdings Inc. (“Choom”) is trading on the CSE under the trading symbol “CHOO”.
Choom Holdings Inc., together with its 100% owned subsidiary, Medi-Can Health Solutions Ltd., intends to develop a unique lifestyle brand for cannabis in Canada’s emerging cannabis market under the Choom brand. In 2017, the Canadian retail market for medical cannabis is worth $5.5 billion, and the retail market for recreational cannabis is estimated to be worth between $5 and $9 billion.
The company is located in the heart of the Okanagan Valley in Vernon, British Columbia which features British Columbia’s world class wineries, lakes, orchards, golf courses and ski hills, and draws approximately 1.9 million visitors annually.
Choom is currently in the final stages of approval from Health Canada to become a licensed producer (LP) of Medical Marijuana for Canadians under Health Canada’s Access to Cannabis for Medical Purposes Regulations (ACMPR). Currently there are only 50 companies licensed under the ACMPR in Canada, held by 40 separate companies. The company’s planned phase 1 cannabis production facility will be capable of producing approximately 660 kg/year of dried cannabis and its planned phase 2 expansion plans would increase its cannabis production capacity to 1500 kg/year.
Further to the listing on the CSE, Choom is voluntarily delisting from the TSX Venture Exchange. The Company also reports that it has granted 3,150,000 incentive stock options to directors, officers, employees and consultants, each at an exercise price of $0.17 per share.
“Choom™ was created for and inspired by the Choom Gang; a group of high school buddies in Honolulu during the early 1970’s who loved to smoke weed—or as they called it, “choom”. Now, after four decades, Choom™ is bringing the spirit of Hawaii to the Okanagan and Canada. We’re planting our flag in the rapidly growing legal cannabis industry in Canada with our own brand of high-grade handcrafted herb.”
– Chris Bogart, President & CEO
Choom™ was formerly known as Standard Graphite Corp. On Nov.17, 2017, the company completed its acquisition of Medi-Can Health Solutions Ltd. In connection with the acquisition, the Company changed its name to “Choom Holdings Inc.” The company commenced trading on the CSE under the trading symbol “CHOO” on Wednesday, November 22, 2017.