Anthony Emecheta
Posted by Anthony Emecheta on Mar 9, 2019 9:00:00 AM

Update on Aurora’s Strategic Investment In Choom

 

rawpixel-743066-unsplashAurora (NYSE: ACB) (TSX: ACB) has continued to expand its stake in the cannabis market within Canada and beyond. On June 18, 2018, Aurora completed its $27 million in Choom private placement and on November 5, 2018 the convertible debenture offering. Ever since, Choom (CSE: CHOO) has taken steps to actualize a number of tactical growth initiatives.

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Between June 19 2018 and August 23, 2018, Choom secured 22 cannabis retail opportunities in British Columbia and Alberta. A month later, on September 24, 2018, Choom was included in CSE25 Index of the Canadian Securities Exchange. By December 10, 2018, Choom finalized the procurement of Clarity Cannabis Medical Centers.

On February 19, 2019, Choom launched a customized e-commerce platform to handle B2B and B2C sales. The licensed enterprise-level platform also empowers Choom to sell to or service any type of buyer in the marijuana industry.

Choom also entered an agreement to purchase Clarity Cannabis Retail Stores in Alberta. This brings the total number of Choom retail stores in Alberta to 30. Out of this number, 3 has received the full license of the Alberta Gaming, Liquor and Cannabis Commission (AGLC).

Choom also has 17 retail locations in Western Canada with additional 8 still under construction. Choom is also diversifying their operations into Ontario with rapid expansions also planned across Canada. Currently Choom boasts of one of the largest new consumer markets in Canada.

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Tags: Finance, Expansion

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