British Columbia-based cannabis cultivation firm Choom Holdings Inc. (CSE: CHOO) (OTCQB: CHOOF) this morning announced that it has closed its previously detailed non-brokered private placement, issuing 14,225,352 shares for total gross proceeds of $10.1 million. Per the update, Aurora Cannabis Inc. (TSX: ACB) (OTC: ACBFF) is the cornerstone investor in this placement with its lead order of $7 million. “The financing provides us with the funds to accelerate the execution of our unique retail strategy moving forward,” Chris Bogart, CEO and president of Choom, stated in the news release. “We are now well positioned to expand our production and retail footprint, as well as, pursue further opportunities across Canada.” All securities issued as part of this private placement will be subject to a four-month hold period.
To view the full press release, visit http://cnw.fm/F61ey
SAY HELLO TO CHOOM™
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, the brand is synonymous with cultivating good times with good friends. The company is focused on delivering an elevated customer experience through its curated retail environments, high-grade handcrafted cannabis supply, and a diversity of brands for the Canadian recreational consumer. For additional information on Choom™, please visit www.choom.ca
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