Choom Holdings Inc CHOOF

Healthcare Cannabis

Choom Holdings Inc. is a Canada-based retail cannabis company, which is established as store networks in Canada. The Company’s Choom brand is inspired by Hawaii's Choom Gang, a group of buddies in Honolulu, who loved to smoke weed or, as the locals call it, Choom. The Choom Gang pursued a ‘live in the moment’ lifestyle and their energy has helped shape the Choom culture, which is rooted in the shared belief of cultivating time with friends. The Company is focused on delivering an elevated customer experience through its curated retail environments, offering a diversity of brands for Canadians across a national retail network. The Company operates through two segments: Retail Cannabis and Corporate Operations. The Company’s business strategy is to build retail cannabis chains, with locations across Canada in the provinces that allow for private retailers.

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Post by CANNABISCANADAon Dec 27, 2021 8:51pm

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Post# 34264730

Just found this in cannabis news today

New Jersey has issued only 12 vertical MMJ licenses, and only 10 are in operation – most with just one dispensary each, according to state data.

State lawmakers approved an expansion to issue a mix of 24 additional MMJ licenses, but the licensing has been blocked by litigation. A court ruling last week might finally free up that licensing round.

Here are some key provisions to New Jersey’s recreational marijuana law, according to a bill statement published in December:

The 12 licensed medical marijuana operators would be permitted to get an adult-use license. Some would get licenses to cultivate, process and sell; others would get wholesale/distributor licenses. The process is more complicated for the potential, yet-to-be-issued 24 additional MMJ licenses.
Cultivation licenses would be capped at 37 for the initial 24 months. The limit wouldn’t apply, however, to licenses issued to microbusinesses, which are firms of no more than 10 employees and 2,500 square feet of canopy space.
The CRC would determine the maximum number of licenses for each class based on market demand.
30% of licenses must be allocated to businesses owned by women, minorities or disabled veterans.
Priority would be given based on “impact zones,” or municipalities negatively impacted by unemployment, poverty or past marijuana enforcement activity. To the extent possible, the CRC would grant at least 25% of the total licenses to such applicants or those who employ at least 25% of their employees from such zones.
Other priority factors would include residents of at least five years who hold at least a 5% investment interest in an entity.
A municipality would have 180 days from the bill’s enactment to prohibit adult-use operations but wouldn’t be able to ban delivery services to consumers in the area.
Adult-use sales would be taxed at 7%. Municipalities could charge local sales taxes of up to 2%.
The CRC also could levy a small “social equity excise fee” on marijuana growers that would fluctuate depending on the average retail price of cannabis.
Proceeds from the excise fee and 70% of the state sales tax would go to programs in communities disadvantaged by the prohibition on marijuana.

Jeff Smith can be reached at jeff.smith@mjbizdaily.com.