NetworkNewsWire Editorial Coverage: North American cannabis markets have achieved tremendous growth in recent years, and that trend shows no sign of slowing down. Cannabis research firm ArcView has called for an annualized growth rate of 26 percent through 2021, as the burgeoning industry benefits from growing popular support and regulatory changes. Perhaps the most notable of these pending amendments is Canada’s planned nationwide legalization of recreational cannabis. Canadian Health Minister Ginette Peitipas Taylor has stoked optimism regarding an August or September 2018 official launch date for recreational cannabis across Canada. Choom Holdings, Inc. (OTCQB: CHOOF) (CSE: CHOO) (CHOOF Profile), with its growing portfolio of four late-stage licensed producer applicants, is primed to pounce on this new market opportunity. Through an aggressive acquisition strategy and strong commitment to developing national retail distribution, Choom has quickly positioned itself as a major player among other North American cannabis industry mainstays like Cronos Group, Inc. (TSX: CRON) (NASDAQ: CRON), Canopy Growth Corporation (TSX: WEED) (OTC: TWMJF), Aphria, Inc. (TSX: APH) (OTCQB: APHQF) and Hiku Brands Company, Ltd. (CSE: HIKU) (OTC: DJACF) (DJACF Profile).
An Evolving Regulatory Landscape
Canada’s quest to become the first G7 nation to legalize recreational marijuana comes with a number of logistical and regulatory challenges (http://nnw.fm/zfk3U). Two of the most prominent in the nascent industry have related to licensing, both for growers and retailers. Canadian cultivators are currently subject to the Access to Cannabis for Medical Purposes Regulations (ACMPR). Implemented in 2016, the ACMPR places the administration of Canada’s cannabis cultivation industry in the hands of…
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