NEW YORK, March 20, 2018 /PRNewswire/ --
NetworkNewsWire Editorial Coverage
Theproposed legalization of recreational cannabis this year is expected to mean huge growth in the Canadian cannabis sector, and companies are preparing to make the most of it. Choom Holdings, Inc. (CSE: CHOO) (OTC: CHOOF) (CHOOF P
Product and Placement
One of the pillars of Choom's strategy is ensuring that it has the right product and position to sell to its specific market. To this end, the company has been working on its retail program to put Choom-branded stores onto Canadian streets. The look of the stores is cool and stylish in keeping with Choom's modern, young brand. Its custom-designed retail environment combines wood paneling with clean, white shelving and sofas where customers can relax to bring the Choom brand to life. Fitting with the aesthetic of popular modern brands, the stores will create a comfortable, familiar space for customers. The stores will also allow Choom to appeal to both existing cannabis users as well as those curious to try the product once it becomes legal. With a complete and carefully branded supply chain that runs from cultivation to retail, Choom has laid the foundation for its goal to be a leader in the recreational-use cannabis industry. Several other companies are also set to make the most of legalization through consumer brands and expansion strategies. Hiku Brands (CSE: HIKU) (OTC: DJACF) is another cannabis lifestyle brand, with a focus on premium products in the form of its high-quality handcrafted cannabis flower. Hiku has a wholly owned subsidiary licensed to produce cannabis, which has requested a Pre-Sales License Inspection - the last step before licensing to sell cannabis under the ACMPR. Hiku recently closed on a $10 million strategic equity investment from Aphria (TSX: APH) (OTCQB: APHQF) to expand its product offering ahead of the recreational market. As an established Canadian cultivator with a background in medical marijuana, Aphria continues to increase its production capabilities for the American cannabis market. The company recently received a license amendment under the ACMPR from Health Canada that will more than triple the company's production capacity of medical cannabis from 9,000 kg annually to 30,000 kg annually. Canopy Growth's (TSX: WEED) (OTC: TWMJF) experience in developing and cultivating cannabis strains has set it up to produce for the newly expanding market. The company recently received a financial boost through a $191 million investment by Constellation Brands. This money from the company behind Corona, Modelo and Svedka will provide the money needed to develop cannabis-infused drinks, bringing the markets of the two companies together. This investment from a major player in the drinks industry shows the faith being placed in Canada's recreational cannabis sector. ABcann Global (TSX-V: ABCN) (OTCQB: ABCCF) is a cultivator of premium quality organic cannabis. Its ABcann Advantage technique is a best-in-class standardized approach to growing cannabis that uses computer monitoring and the omission of pesticides to minimize the risks of variance in its yields and ensure a consistently high-quality product. This has led to a 4.7 percent customer retention rate and 30 percent month-over-month customer growth. The Canadian recreational cannabis industry is heading to the starting line with a strong pack of recreational brands and cultivators geared up to meet rising product demand. And as the sector grows, these companies could take a substantial share of a market worth billions. For more information on Choom Holdings, please visit Choom Holdings (CSE: CHOO) (OTCQB: CHOOF).
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