- Potential Canadian marijuana market upside estimated at $22.6 billion
- Choom™ strategy is soil-to-shelf integration through cultivation, branding and retail marketing
- Company seeking phase 1 and 2 revenue growth in Vernon and Vancouver Island, British Columbia, Canada
Choom Holdings Inc. (CSE: CHOO) (OTCQB: CHOOF) is focused on the recreational marijuana market in Canada and is projecting revenues from its retrofit and expansion efforts in Vernon and Vancouver Island, British Columbia, Canada. In its investor presentation of March 2018 (http://cnw.fm/pER7I), the company positioned itself to become a branded, fully integrated cannabis company in the recreational marijuana market of Canada. Its plans for growth include its own product cultivation, retail expansion and acquisitions.
In its presentation, Choom quotes the ‘Canaccord Genuity Canadian Cannabis Industry Overview’ as projecting that the total marijuana market will reach $6 billion by 2021. It finds that recreational users will outnumber medical marijuana users by almost eight times, calling for 3.8 million recreational users to roughly 500,000 medical users.
The Vancouver-based company is focused on branding, building a chain of its own Choom retail dispensaries, positioning its premium brand and acquiring production assets.
Choom has two significant projects. Through its presence in Vernon, British Columbia, it expects phase 1 revenue of $6.6 million, with $15 million from phase 2. A retrofit is scheduled for completion by July 2018, and expansion is planned for the end of 2018. In Vancouver Island, British Columbia, phase 1 potential revenue is estimated at $4.5 million, with $9 million in phase 2. All revenue projects exclude oils. Retrofit completion is scheduled for July 2018, and phase 2 expansion completion is planned by the end of 2019.
The larger picture focuses on the total marijuana market’s potential upside of $22.6 billion, according to the Deloitte Recreational Marijuana/Insights and Opportunities report (http://cnw.fm/ii5J6). This upside figure represents the additional revenue from growers, tourism, license fees, business taxes and base retail market value.
As it grows, Choom’s shares are now Depository Trust Company (“DTC”) of New York-eligible, allowing for easier trading of Choom shares on the OTC (http://cnw.fm/v72CO). The company recently named Chris Gagan as its senior vice president of marketing, making him responsible for the development of the Choom brand and retail marketing (http://cnw.fm/Nh6hM).
For more information, visit the company’s website at www.Choom.ca
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