Canada's Potential Cannabis Demand and Supply Issues Heating up Heading Into the Summer

PALM BEACH, Florida, June 18, 2018 /PRNewswire/ --

MarketNewsUpdates.com News Commentary 

Major developments taking place in the legal cannabis industry in North America, particularly Canada. Canada is just about on the cusp of legalizing recreational marijuana through Bill C-45, which is best known as the Cannabis Act that is highly anticipated to be signed into law very soon. The long enduring process and expected legalization of recreational cannabis is a long time coming for marijuana industry as a whole. The long process for the Bill C-45 first made its way to Canada's Senate just about 14 months ago, and was only voted on after numerous debates, speeches, and amendments just recently. Industry experts are not certain what the demand and supply picture will look like in Canada because it often takes Health Canada a long time to issue cultivation licenses and sales permits. But either way, as the long waited day approaches, active companies in the industry are making moves to ready that include: Choom™ Holdings Inc. (CSE:CHOO) (OTC:CHOOF), Aurora Cannabis Inc. (TSX:ACB) (OTC:ACBFF), Canopy Growth Corp. (TSX:WEED) (NYSE:CGC), Aphria Inc. (TSX:APH) (OTC:APHQF), The Green Organic Dutchman Holdings Ltd. (TSX:TGOD) (OTC:TGODF).

Choom™ Holdings Inc. (CSE: CHOO) (OTCQB: CHOOF) BREAKING NEWS: Choom™, an emerging fully-integrated cannabis company, is pleased to announce it has closed its previously announced non-brokered private placement (June 13, 2018). The Company issued 14,225,352 shares for total gross proceeds of $10.1 million. Aurora Cannabis is the cornerstone investor in the placement with a lead order of $7 million. All securities issued are subject to a four month hold period.

"The financing provides us with the funds to accelerate the execution of our unique retail strategy moving forward," states Chris Bogart, CEO and President of Choom. "We are now well positioned to expand our production and retail footprint, as well as, pursue further opportunities across Canada."  

None of the securities issued in connection with the placement will be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This news release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there by any sale of the securities in any state where such offer, solicitation, or sale would be unlawful. Read this and more news for Choom™ at: http://www.marketnewsupdates.com/news/choo.html