North American Cannabis Economy Quickly Becoming Revenue Powerhouse as Industry Thrives
PALM BEACH, Florida, September 18, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
A constant in the North American economies has been the increasing presence of cannabis as the industry continues to mature and produce strong revenue outputs. In 2017, the United States alone generated over $9 billion in revenues. Canada has seen astronomical levels as well as the nation have embraced country-wide legalization. The industry continues to be poised for growth and consumers should not expect a decline anytime soon as investment in the space continues to rise as investors become increasingly confident in the political climate surrounding the market, as well as the overall consumer sentiment towards the various forms of cannabis use. This has created natural momentum that is allowing leaders in Cannabis to reinvest in operations in order to meet the rising levels of demand, as well as strengthen already impressive revenue streams. Active companies in the industry making moves to ready that include: Choom Holdings Inc. (CSE:CHOO) (OTC:CHOOF), Aurora Cannabis Inc. (TSX:ACB) (OTC:ACBFF), Canopy Growth Corporation (TSX:WEED) (NYSE:CGC), HEXO Corp. (TSX:HEXO) (OTC:HYYDF), 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 that it has applied for a master retail license (the "License") in Manitoba's Request for Proposal ("RFP") to sell recreational cannabis coming October 17th. The License would give Choom the capability to operate retail cannabis stores within the province, as well as, an e-commerce platform.
Choom currently has secured the rights of up to 52 retail opportunities across western Canada. Choom's rapidly expanding provincial presence now stands at 29 leases in highly strategic and secure locations in Alberta with 28 applications submitted, in combination with 17 retail opportunities in B.C., and 6 retail opportunities in Saskatchewan. Choom also has received Development Permits in 11 municipalities and is in the process of its retail store buildouts.
Choom is executing an aggressive expansion plan to create a significant retail brand in the Canadian adult use market and is committed to developing and acquiring retail stores as a top priority. In all cases, the retail opportunities are subject to all necessary governmental and municipal approvals being granted. This number is expected to grow over the coming months as the Company is currently negotiating additional leases with the intention of submitting applications for retail licenses in multiple jurisdictions.
"Manitoba represents another step in our strategy to build one of the largest private retail networks across Canada and
establishing ChoomTM as a dominant Canadian cannabis brand. The RFP process is highly competitive, and receiving one of the master licenses will give us the ability to sell directly to consumers-
either in store or online," states Chris Bogart, President and CEO of Choom. "Consumers in Manitoba can expect style and
sophistication when they walk into a Choom store. The Choom brand was created exclusively to service the recreational market, ensuring curious customers and cannabis connoisseurs alike can
'cultivate good times'. We remain committed to pursuing more retail opportunities across Canada, and Manitoba is an important part
of our national strategy." Read this and more news for Choom at: http://www.marketnewsupdates.com/news/choo.html
Additional industry related developments from around the markets:
Aurora Cannabis Inc. (TSX:ACB.TO) (OTCQX:ACBFF) and Australis Capital Inc. ("Australis") recently acquired Europe's largest producer, processor and supplier of certified organic hemp and hemp products, Agropro UAB, as well as hemp processor and distributor Borela UAB. Agropro, a hemp seed contracting and processing company, and its sister company Borela UAB, a processor and distributor of organic hulled hemp seeds, hemp seed protein, hemp flour and hemp seed oil, currently have 1,600 hectares (4,000 acres) under contract, potentially yielding more than one million kilograms of organic hemp with additional contracts available to expand to more than 3,000 hectares across Lithuania, Latvia, Estonia and Poland. Previously, the companies were focused exclusively on the production and sale of hemp-seed-based products to markets across Europe, North America and Asia. Each year, very substantial quantities of CBD (cannabidiol) containing hemp biomass were left on the field unutilized.