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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 : Phivida Holdings Inc. Acquired By Choom Holdings Inc.

09/23/2020 | 02:13am EDT

On September 16, 2020, Vancouver-based cannabis industry companies, Choom Holdings Inc. (CSE: CHOO)(OTCQB: CHOOF) ("Choom") and Phivida Holdings Inc. (CSE: VIDA) ("Phivida"), announced the completion of the acquisition of Phivida by Choom, pursuant to a court-approved plan of arrangement.  As per the terms of the transaction, Choom acquired all of the issued and outstanding shares of Phivida in exchange for consideration of 0.72566 of a common share of Choom for each Phivida share.

In connection with the closing, a total of 64,608,187 Choom shares were issued to the former holders of Phivida shares, resulting in former Phivida shareholders holding approximately 28.6% of the total number of issued and outstanding Choom shares. In addition, the outstanding options to purchase Phivida shares have been replaced with options to purchase Choom shares on the same terms and conditions, other than necessary adjustments, as set out in the plan of arrangement.

Gowling WLG advised Phivida with respect to this transaction with a team that included Peter Simeon, Kathleen Ritchie and Jacob Cawker (corporate and securities) and supported by Jonathan Ross and Ryleigh Milligan (litigation).

Read the original article on GowlingWLG.com

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Mr Peter Simeon
Gowling WLG
Suite 1600, 1 First Canadian Place
100 King Street West
Toronto
Ontario M5X 1G5
CANADA
E-mail: info@gowlingwlg.com
URL: www.gowlingwlg.com

© Mondaq Ltd, 2020 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing

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Financials
Sales 2020 7,95 M 6,34 M 6,34 M
Net income 2020 -20,3 M -16,2 M -16,2 M
Net Debt 2020 26,2 M 20,9 M 20,9 M
P/E ratio 2020 -1,41x
Yield 2020 -
Capitalization 40,6 M 32,4 M 32,4 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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