VANCOUVER, Feb. 13, 2019 /PRNewswire/ - Choom™ (CSE: CHOO;
OTCQB: CHOOF) is pleased to announce that it has entered into a letter of intent agreement ("LOI") with one of the 25 Cannabis
Retail lottery winners to open a location in Ontario. Choom, an emerging adult use cannabis
retailer, is building out one of the largest retail cannabis networks in Canada. The LOI is with
a winner of one of the 25 retail opportunities to apply for a license to operate a cannabis retail store granted as a result of
the Alcohol and Gaming Commission of Ontario's ("AGCO") Expression of Interest Application
Lottery conducted on January 11, 2019.
"Being able to get an early start to establish Choom's presence in the private retail market in Ontario through an agreement with a lottery winner is a remarkable milestone for Choom. We are
thrilled that the lottery winner chose Choom to help them successfully open and operate a retail cannabis store in Ontario." stated Chris Bogart, President and CEO of Choom. "With our
branding and execution, consumers can expect a unique experience accompanied with knowledgeable staff, style, and sophistication
reflected throughout the store design. Our goal is to ensure customers leave the store knowing more about what they're purchasing
and creating a high retention customer base."
CHOOM'S NATIONAL RETAIL NETWORK
Choom is currently developing a network of retail stores which will feature a curated selection of products from
various licensed producers with a strong focus on elevated customer experiences for the adult use market. Choom has secured the
rights to 54 retail opportunities across Western Canada, rapidly expanding their commercial
footprint in highly strategic locations. This includes a total of 46 applications submitted in Western
Canada with 10 stores under construction and an additional 17 stores having completed their build out. In all cases, the
retail opportunities are subject to all the necessary provincial and municipal governmental approvals.
SAY HELLO TO CHOOMTM
Choom™ is an emerging adult use cannabis company whose mission is to establish one of the largest retail
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 adult use 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.
"Chris Bogart"
President & CEO
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 include 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, the results of diligence investigations, 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 the Company's Listing
Statement, made with the applicable Canadian securities regulators. There can be no assurance that such 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.
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SOURCE Choom Holdings Inc.