British Columbia-based cannabis cultivation firm Choom Holdings (CSE: CHOO) (OTCQB: CHOOF) this morning announced that it has entered into a definitive agreement to acquire Island Green Cure Ltd. (“IGC”), an advanced-stage cannabis production license applicant under Health Canada’s Access to Cannabis for Medical Purposes Regulations (“ACMPR”). IGC is currently in the “Confirmation of Readiness Stage” in the application process. Subject to customary closing conditions, the acquisition is anticipated to close at the end of April. “We are excited to secure our second acquisition and increase our total production capacity with another craft growing facility to cultivate Choom’s premium handcrafted flower. Upon completion of the tenant improvements, IGC will submit its evidence package to Health Canada and it is expected to receive a cannabis cultivation license soon after. This acquisition further demonstrates our commitment to building a national premium recreational brand,” Choom Holdings president and CEO Chris Bogart stated in the news release.
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About Choom™
Channeling the spirit of Hawaii in the Okanagan, high-grade handcrafted strains by Choom™ are all about cultivating good times and good friends. Choom™ was inspired by the Choom Gang; a group of buddies in Honolulu during the 1970s. Now, after four decades, Choom is bringing the spirit of Hawaii to the Okanagan. The company is planting its flag in the rapidly growing legal cannabis industry in Canada with its own brand of high-grade handcrafted herb. For more information, visit the company’s website at www.Choom.ca.
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