British Columbia-based cannabis cultivation firm Choom Holdings Inc. (CSE: CHOO) (OTCQB: CHOOF) this morning announced its entry into a letter of intent to acquire Flower Power Cannabis Pharms Inc., a retail brand experience cannabis company, as well as its wholly-owned subsidiary, High Way 10 Cannabis Pharms Inc. Per the update, High Way 10, located in southern Saskatchewan, is currently in the active review stage of Health Canada’s application process under the ACMPR, and its initial 16,000 sq. ft. facility is capable of producing roughly 1,500 kg of dried cannabis per annum. “We are very pleased Choom™ has increased its total production capacity with the addition of potentially our fourth advanced stage applicant,” Chris Bogart, president and CEO of Choom, stated in the news release. “This acquisition further demonstrates our commitment to develop and acquire license and production assets along with retail dispensary opportunities, helping to position us to scale-up rapidly to meet the anticipated Canadian recreation market demand.”
To view the full press release, visit http://cnw.fm/rP5S9
About Choom
Channeling the spirit of Hawaii in the Okanagan, high-grade handcrafted strains by Choom™ are all about cultivating good times and good friends. Choom™ was inspired by the Choom Gang; a group of buddies in Honolulu during the 1970s. Now, after four decades, Choom is bringing the spirit of Hawaii to the Okanagan. The company is planting its flag in the rapidly growing legal cannabis industry in Canada with its own brand of high-grade handcrafted herb. For more information, visit the company’s website at www.Choom.ca
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