Choom : Announces Settlement of Debt Obligations

Vancouver, BC - Aug 11, 2021- Choom Holdings Inc. ('Choom' or the 'Company') (CSE: CHOO; OTCQB: CHOOF), a fast-expanding Canadian retail cannabis Company announces that it has entered into a settlement agreement with a debtholder whereby Choom agreed to settle debt obligations in the aggregate amount of $550,000 (the 'Debt') in consideration of: (i) the issuance of 3,174,603 common shares in the capital of the Company (the 'Choom Shares') at a deemed price of $0.063 per Choom Share, and (ii) the extinguishment of an aggregate of up to $875,000 owed to the Company by the debtholder. The Choom Shares to be issued in satisfaction of the Debt will be subject to a 4 month statutory hold period, expiring on December 12, 2021.

About Choom™

Choom™ is a fast-expanding retail cannabis Company that has established one of the largest store 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 market with the ethos of 'cultivating good times'. 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.

For additional information contact:

Corey Gillon, CEO
Telephone: [phone]

Chris Bogart, President
Telephone: [phone]
[e-mail]

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPTED RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.