PALM BEACH, Florida, February 7, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
Theworld's largest legal cannabis industry is months away from its most sweeping change ever. The change is the complete legalization of recreational cannabis use in Canada and it is poised to ignite a growth in the industry.
Choom Holdings Inc. - Choom™ - (CSE: CHOO) (OTCQB: CHOOF) is pleased to announce its retail store program and that is now opening the Choom family up to potential retail owners. This follows Choom's announcement on January 18th, 2018 highlighting a retail strategy of developing a chain of branded retail cannabis dispensaries across Canada.
"We're inviting people to open stores with a world class brand built exclusively for the recreational cannabis market and we're encouraging them to join our family by registering for their own Choom™ Store", states Chris Bogart, President and CEO. ChoomTM is using design and retail strategies that have worked successfully at some of the most profitable storefronts in the country. We are telling our Choom story with our stores and will elevate the concept of a high-quality product though our new retail environments and we're inviting others to join us. Read this and more news for Choom™ at: http://www.marketnewsupdates.com/news/choo.html.
With an estimated $4.9B to $8.7B1 retail market coming, now is the right time get involved in this growing industry. Choom™ is very pleased to start welcoming potential partners to the Choom family. As we move forward in the design process and developing our retail strategy, adding passionate partners will be key to growth. In an industry where dispensaries in a legal recreation market are making more revenue per square foot than Whole Foods2 we look forward to adding partners who want to get in on the ground floor. Here's to good times with good friends.
In industry developments and happenings in the market this week:
The Financial Post reports in its Tuesday edition that adult recreational pot users in British Columbia including Canopy Growth Corp. (TSX: WEED) (OTC: TWMJF) and Aphria, Inc. (TSX: APH) (OTC: APHQF), will be able to buy weed from private retailers, in urban centers and in government-run stores across the province, the B.C. government announced on this week. The Post's Mark Rendell writes that the B.C. Liquor Distribution Branch (LDB) is opening "a new standalone network of public retail stores," and will manage on-line sales. In urban areas, private stores will be allowed, although their retail activity will be limited. A government news release says, "Licensed retailers will not be able to sell cannabis in the same stores as liquor or tobacco." Private cannabis retailers also will not be allowed to sell other products like food, gas, clothing and lottery tickets. There is no cap on the total number of private retail licenses the government intends to issue. However, the province will not license retailers without support from local governments, which, according to the release, "will have the authority to make local decisions, based on the needs of their communities." For rural communities, it appears that the government will mostly rely on LDB stores, although the rules remain slightly unclear.
Aurora Cannabis Inc. (TSX: ACB) (OTCQB: ACBFF) this week has filed its notice of variation and CanniMed Therapeutics Inc. has filed its notice of change to directors' circular in connection with Aurora's improved offer to acquire all of the outstanding common shares of CanniMed not already owned by Aurora or its affiliates, described under Aurora's notice of variation below. As previously announced by the parties on Jan. 24, 2018, CanniMed's board of directors is unanimously recommending that CanniMed's shareholders accept the improved offer.
Hiku Brands Company Ltd.'s (TSX: HIKU) (OTCQB: DJACF) wholly owned subsidiary Doja Cannabis Ltd. has received notification from Health Canada that the company's presale inspection has been scheduled for Tuesday, Feb. 13, 2018. The presales licence inspection is the last step prior to the issuance of a sales licence under the ACMPR (Access to Cannabis for Medical Purposes Regulations). "As there are currently only 26 independent companies with cannabis sales licences under the ACMPR in Canada, receiving confirmation of our presales licence inspection from Health Canada is a major milestone for Hiku. I'm extremely proud of our cultivation team, the dedication to their craft shows in the very high-quality flower being produced at our licensed facility. Our team's ability to execute has allowed us to advance to the presales licence inspection ahead of schedule and faster than our peers. We look forward to soon selling Doja-branded cannabis to our valued customers," said Alan Gertner, Chief Executive Officer of Hiku.
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