Vancouver-based cannabis retailer Choom
The company takes inspiration from a group of friends known as the Choom Gang, who spent their time smoking weed in 1970s Honolulu. Barack Obama was a member of the group and, unlike Bill Clinton, he never claimed he didn’t inhale.
The firm is focused on creating a 125-strong estate of experiential retail stores from coast to coast in Canada. British Columbia currently only allows eight retail sites per company, so it has eight stores there, with five Concord Medical Clinics open and plans to expand.
A company can have up to 37 stores in Alberta and Choom has already secured agreements on 30, with three currently open and nine completed. It has now launched in Ontario too and it can start serving a region of 447,888 people. The area also receives 14 million per year and Choom hopes to cash in on tourist dollars.
“By crafting an approachable experience that encourages exploration and education, we hope to bring both residents and visitors together to cultivate good times,” said president and chief executive Chris Bogart, previously a co-founder of InMed Pharmaceuticals (TSX: IN).
A Real Aloha Vibe
Twenty-five stores have been authorized in the province and assigned to qualified lottery winners. Toronto-based entrepreneur Lisa Bigioni was selected to open the Niagara Falls store and she decided to team up with Choom after praising its “extensive experience in regulated industries provides invaluable insight on store operations”.
Staff at the store have already undergone “stringent cannabis sommelier training”, showing just how seriously the cannabis industry is developing in Canada. Hodgson Design Associates has tried to foster a “relaxed and inviting environment” in the new store, while Choom is keen to promote “a real aloha vibe”.
In June 2018, Aurora Cannabis
In March 2019, Choom signed a letter of intent to enter the Florida market by purchasing a 95% equity interest in an unspecified vertically integrated cannabis applicant in the Sunshine State. It will bring Choom’s medical brand to that market and it hopes to become a multi-state operator.
Its share price was $0.45 at the start of 2019 and it increased dramatically to $0.79 by Mar. 12, before falling back to $0.45 again. It opened at $0.48 today.
High Tide Sweeps Into Toronto
The Ontario cannabis retail market is starting to take shape and tomorrow High Tide
It will open a 17th Canna Cabana on Yonge Street, Toronto, this weekend and it expects the store to be its “highest-profile” location in Canada. It is working with lottery winner Dana Michele Kendal there.
It has plans for 23 more Canna Cabana stores across Canada and it is making progress in several provinces.
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