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MarketScreener Homepage  >  Equities  >  CANADIAN NATIONAL STOCK EXCHANGE  >  Choom Holdings Inc.    CHOO   CA17040B1013

CHOOM HOLDINGS INC.

(CHOO)
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Choom : Ontario Expansion Continues with its First Toronto Location

06/25/2020 | 06:01am EST

VANCOUVER, British Columbia, June 25, 2020 (GLOBE NEWSWIRE) -- Choom™ (CSE: CHOO; OTCQB: CHOOF), who has secured an extensive national retail footprint, continues to build momentum after the successful opening of its latest flagship location in Vancouver, with plans to replicate its success in Toronto. The opening of Choom’s Liberty Village location is now well underway with its ‘Retail Store Authorization’ in progress and store concept and design finalized.

Choom has strategically chosen the young, creative, and bustling neighborhood of Liberty Village, next to the downtown core of Toronto. The village has seen expansive growth in recent years and is known for its mix of elevated retail, commercial and residential buildings, which creates the perfect setting for those that want to work and live in the same area. Liberty Village’s demographic is reflective of the consumer Choom draws and is investing in. Choom is conveniently located at #3, 61 Hanna Avenue, Toronto, ON.

“Our strategic vision has been to open brand propelling locations that fit the work/play lifestyle of our clients,” Corey Gillon, CEO states. “Our Vancouver opening earlier this year has given us confidence in this direction. We’ve been working on the next iteration of the brand for the last 6 months and are excited to unveil Choom 2.0 for the first time in Ontario. This is complementary to our original vision of our store in Niagara Falls.”

Choom’s Liberty Village location is a keystone addition to the brand’s continued expansion in the Ontario market with secured locations in Kitchener, Hamilton, and Ottawa. Choom operates across 3 provinces (British Columbia, Alberta, and Ontario) with 18 stores and its e-commerce site.

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. 

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 includes 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 or arising as a result of delays in obtaining or an inability to obtain required regulatory approvals, access to sufficient quantities of cannabis, the results of diligence investigations, the actions of third parties, the results of negotiations with third parties, developments in the cannabis sector, the 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 those made with the CSE and applicable Canadian securities regulators. There can be no assurance that such forward looking 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.

Contact: 
Choom Holdings Inc.

Corey Gillon, CEO
T: 604.683.2509
F: 604.683.2506

Chris Bogart, President
T: 604.683.2509
F: 604.683.2506

E: investors@choom.ca
W: choom.ca

 


Source: Choom Holdings Inc. 

2020 GlobeNewswire, Inc., source Press Releases

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Financials
Sales 2020 7,95 M 6,28 M 6,28 M
Net income 2020 -20,3 M -16,1 M -16,1 M
Net Debt 2020 26,2 M 20,7 M 20,7 M
P/E ratio 2020 -1,41x
Yield 2020 -
Capitalization 47,1 M 37,2 M 37,2 M
EV / Sales 2019 343x
EV / Sales 2020 7,27x
Nbr of Employees 5
Free-Float 96,2%
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Managers and Directors
NameTitle
Corey Gillon Chief Executive Officer & Director
Christopher Bogart President & Director
Terese J. Gieselman Chief Financial Officer & Secretary
Stephen Tong Independent Director
Kevin George Puil Independent Director
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