Trading on CSE to Commence Next Week
VANCOUVER, Nov. 17, 2017 /CNW/ - Choom™ (formerly
"Standard Graphite Corp.") is pleased to announce that it has
completed its previously announced acquisition of Medi-Can Health
Solutions Ltd. In connection with the acquisition, the
Company has changed its name to "Choom Holdings Inc." The Company
has received conditional approval to list on the Canadian
Securities Exchange ("CSE") and, subject to obtaining final
approval of the CSE, expects to commence trading on the CSE under
the trading symbol "CHOO" on Wednesday, November 22, 2017.
The Company and its new subsidiary are now doing business under
the Choom™ brand.
Choom™ is a cannabis production and sales licence
applicant under Health Canada's Access to Cannabis for Medical
Purposes Regulations (ACMPR) with a facility located in
Vernon, B.C. with extensive
cannabis cultivation equipment. Choom's planned phase 1 cannabis
production facility will be capable of producing approximately 660
kg/year of dried cannabis and its planned phase 2 expansion plans
would increase its cannabis production capacity to a total of 1500
kg/year.
Choom™ will focus its business on the highest quality
handcrafted cannabis strains and intends to develop a unique
lifestyle brand for cannabis in Canada, subject to obtaining a cannabis
cultivation and retail sales licence and the legalization of
cannabis for non-medicinal uses.
Choom™ plans to feature a range of curated, handcrafted
strains ideally suited for Canada's emerging cannabis market. The
Okanagan Valley, which includes the cities of Vernon and Kelowna, features British Columbia's world class wineries,
lakes, orchards, golf courses and ski hills, which draws
approximately 1.9 million visitors annually.
Further to the listing on the CSE, the Company is voluntarily
delisting from the TSX Venture Exchange. The Company also reports
that it has granted 3,150,000 incentive stock options to directors,
officers, employees and consultants, each at an exercise price of
$0.17 per share.
SAY HELLO TO CHOOMTM
Choom™ was created for and inspired by the Choom Gang; a
group of high school buddies in Honolulu during the early 1970's who loved to
smoke weed—or as they called it, "choom". Now, after four
decades, ChoomTM is bringing the spirit of
Hawaii to the Okanagan and
Canada. We're planting our flag in
the rapidly growing legal cannabis industry in Canada with our own brand of high-grade
handcrafted herb.
"Chris Bogart"
President & CEO
Cautionary Statement:
Neither
the CSE nor the TSX Venture Exchange has in any way passed upon the
merits of the transaction and neither has approved nor disapproved
the contents of this press release. Commencement of trading on the
CSE is subject to final CSE
acceptance.
Forward-looking information
This news release
contains forward-looking information relating to the Company's
proposed activities and other statements that are not historical
facts. Forward-looking information relates to management's future
outlook and anticipated events or results, and include statements
or information regarding the future plans or prospects of the
Company. Although management of the Company has attempted to
identify important factors that could cause actual results to
differ materially from those contained in forward looking
information, there may be other factors that cause results not to
be as anticipated, estimated or intended. These factors include
risks and uncertainties associated with the results of diligence
investigations, developments in the cannabis sector, delays
resulting from or inability to obtain required regulatory approvals
and ability to access sufficient capital from internal and external
sources, reliance on key personnel, regulatory risks and delays and
other risks and uncertainties discussed in the management
discussion and analysis section of the Company's interim and most
recent annual financial statement or other reports and filings,
including the Company's Listing Statement, made with the applicable
Canadian securities regulators. There can be no assurance that such
information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward looking information.
The forward-looking statements contained in this news release
are made as of the date of this news release. Except as required by
law, the Company disclaims any intention and assumes no obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
Additionally, the Company undertakes no obligation to comment on
the expectations of, or statements made by, third parties in
respect of the matters discussed above.
SOURCE Standard Graphite Corporation