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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 : Secures 4th Retail Location in Vancouver

09/23/2020 | 08:46am EDT

VANCOUVER, BC, Sept. 23, 2020 /CNW/ - Choom Holdings Inc. ("Choom" or the "Company") (CSE: CHOO) (OTCQB: CHOOF), a fast-expanding retail cannabis company that has established one of the largest store networks in Canada, is thrilled to announce that it has now secured a development permit for a retail location at 565 Dunsmuir Street, in the heart of downtown Vancouver, BC.

Corey Gillon, CEO states, "Choom's strategic vision of opening brand propelling locations continues as we have now secured our fourth development permit in Vancouver. We are excited to be expanding our brand in our hometown. Our BC expansion demonstrates both a commitment to the province and the capabilities of our team to secure prime retail locations."

Choom has strategically chosen to expand in Vancouver's downtown core for its elevated mix of commercial, residential, retail and commuter traffic. The area has seen increasing development over recent years, allowing for a neigbourhood to both live and work in. This area of the city is a key part of Choom's Vancouver expansion plan.

Choom's Dunsmuir location is a milestone addition to the brand's continued expansion in the BC market with secured locations in Kitsilano, and Yaletown; in addition to the recently opened Olympic Village flagship store. 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 on 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. 

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

SOURCE Choom Holdings Inc.

© Canada Newswire, source Canada Newswire English

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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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