Choom provided shareholders with an update on the development of its planned cannabis retail store network.
As quoted in the press release:
Choom has applied to Saskatchewan Liquor and Gaming Authority (“SLGA”) for cannabis retail permits in 32 Zones across the province. The SLGA has made 51 cannabis retail permits available in 32 zones through a Request for Proposal process and is expected to award the permits via lottery by June, 2018.
Additionally, Choom has secured the rights to 16 retail locations in Alberta and British Columbia, in all cases, subject to all necessary governmental approvals being granted. This number is excepted to grow over the coming months as the Company is currently negotiating additional leases with the intention of submitting applications for retail licenses.
“This is a significant step towards delivering the Choom experience of ‘good times with good friends’ for Canadians across the country,” states Choom’s president and CEO, Chris Bogart.