Mergers & Acquisitions and Revenues Projected to Increase In Canadian and U.S. Markets

Palm Beach, FL – February 27, 2019 — Companies grow by increasing their revenues… some do it organically by ratcheting up their sales internally, others grow by acquiring other businesses and adding the acquired company’s sales into their revenues. Most industry insiders feel that the now is the time that we will see more of the latter. An article released on Yahoo addressed this coming trend: “This past October, Canada ended nine decades of recreational-marijuana prohibition and became the first industrialized country in the world to legalize adult-use weed. Soon after, a number of U.S. states legalized medical pot or expanded its use to adult consumers. Then, in December, the groundbreaking Farm Bill was passed in the U.S., giving the green light to hemp and hemp-based cannabidiol products.  This sort of perfect storm of marijuana (and hemp) momentum has led to some very robust growth estimates for the industry. A co-authored report from Arcview Market Research and BDS Analytics that was recently released calls for 38% global sales growth in 2019, and a more than doubling in global revenue between 2018 and 2022 to $31.3 billion. This expectation of rapid growth, coupled with extraordinary demand from consumers in Canada and in select legal U.S. states, has been the impetus behind a wave of cannabis acquisitions throughout North America.  Active companies in the industry making moves to ready that include:  Choom™ Holdings Inc. (CSE:CHOO) (OTC:CHOOF), Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB), Canopy Growth Corporation (NYSE: CGC) (TSX: WEED), MedMen Enterprises Inc. (CSE: MMEN) (OTC: MMNFF), Fire & Flower Holdings Corp. (TSX-V: FAF) (OTC: FFLWF).


A Forbes article revealed more about the coming acquisition marker surge: “Right now, the biggest deals are happening in Canada… Back in the states, the numbers are smaller but the market is no less busy… While that means many small companies are now attractive acquisition targets, it also means that big alcohol and pharmaceutical companies will be sniffing around Canadian cannabis companies… expect to see more M&A activity among established U.S. companies in the hopes that they will become big enough to fend off the larger competition when it inevitably comes calling.”


Choom™ Holdings Inc.  (CSE:CHOO) (OTCQB:CHOOF) BREAKING NEWS:  Choom™, an emerging adult use cannabis company that has secured one of the largest national retail networks in Canada, is pleased to announce has entered a definitive agreement (“Purchase Agreement”) with Clarity Cannabis MD Holdings (“Clarity”) and its shareholders, to acquire 30 retail locations, three of which are licensed with the Alberta Gaming, Liquor & Cannabis Commission (“AGLC”). Clarity has successfully progressed through AGLC licensing and is operating the following three stores in the legal adult use cannabis market in Alberta and is awaiting licenses for the following seven cannabis retail stores.



High River, AB

Cold Lake, AB

Red Deer, AB




Cold Lake #2, AB – awaiting licensing

Lloydminster, AB – awaiting licensing

Drumheller, AB – awaiting licensing

Brooks, AB – awaiting licensing

Medicine Hat, AB – awaiting licensing

Westlock, AB – awaiting licensing

Camrose, AB – awaiting licensing

Camrose #2, AB – awaiting licensing

Lethbridge, AB – awaiting licensing


In addition to the three licensed cannabis retail stores, the acquisition includes all 30 leases secured and applications submitted to the AGLC by Clarity.  Clarity currently has 11 development permits awaiting construction, with 6 stores to commence construction, and 9 stores completed construction.


Choom expects the licenses for the remaining completed stores to be granted soon after the AGLC starts to grant additional retail licenses.  Upon approval from the AGLC, all of the Clarity retail stores and retail opportunities will be re-branded under the “Choom Cannabis Co.” name.  The completion of the acquisitions of the retail stores and retail opportunities will be dependent on the timing of the receipt of all necessary provincial and municipal approvals.  The Purchase Agreement has been structured to permit Choom to acquire Clarity itself or all of the thirty retail stores and retail opportunities on a location-by-location basis, to provide flexibility to obtain timely receipt of necessary provincial and municipal approvals on a location-by-location basis or through the acquisition of Clarity itself.   “We are thrilled to welcome Clarity into the Choom brands portfolio through this acquisition,” states Chris Bogart, President & CEO of Choom.  “Clarity has been successfully operating in Alberta since December and has submitted applications across the province. This transaction gives us a strong foothold in the Alberta retail landscape.  Moving forward we will be working diligently to maximize our retail footprint Canada wide, and this transaction helps us to achieve that goal.”   Read this and more news for Choom™ at:


Additional industry related developments from around the markets:


Aurora Cannabis Inc. (NYSE: ACB) (TSX: ABC) recently announced  that it has agreed to terms to acquire a 51% ownership interest in Gaia Pharm Lda ., a license applicant in Portugal , to establish a local facility to produce medical cannabis and derivative products. The company will be renamed “Aurora Portugal Lda”. On February 21, 2019 , Gaia Pharm Lda . received approval of its application to construct an EU GMP compliant cannabis cultivation facility from INFARMED, a division of the Portuguese Health Ministry, which is responsible for the evaluation, authorization, regulation and control of human medicines as well as health products for the protection of public health.


Canopy Growth Corporation (NYSE: CGC) (TSX: WEED.TO) recently announced that it has named Hilary Black as its Chief Advocacy Officer, effective immediately. In her expanded role, Hilary’s mandate includes driving patient advocacy efforts worldwide, executing the Company’s global corporate social responsibility strategy, and leading the implementation of best practices for diversity & inclusion.


“My unconventional path to the executive level speaks to Canopy Growth’s respect for the trailblazers that for many decades fought for legal cannabis access,” said Hilary Black , Chief Advocacy Officer, Canopy Growth. “For my entire adult life, I have broken down barriers so that patients could access cannabis. Being with Canopy Growth has exponentially amplified these efforts. I feel a tremendous sense of responsibility and privilege to build on this legacy of compassion and carry out a mandate that will improve the lives of patients around the world.”


MedMen Enterprises Inc. (CSE:: MMEN.CN) (OTCQX: MMNFF) recently announced that it has closed its previously announced acquisition (the “Acquisition”) of Kannaboost Technology Inc. and CSI Solutions LLC, collectively referred to as “Level Up,” two vertically-integrated operations in Arizona. The acquisition includes retail locations in Scottsdale and Tempe, as well as 25,000 square feet of cultivation and production capacity in Tempe and Phoenix. The acquisition also includes a 40 percent stake in top-selling brand K.I.N.D. Concentrates, which is currently distributed in over 90 percent of the dispensaries in Arizona. The Company paid a combination of cash and stock valued at an aggregate of $33.5 million.

With the closing of the Acquisition and following the completion of the pending acquisition of PharmaCann, LLC, MedMen will be licensed for three medical-use cannabis dispensaries in Arizona. The flagship Level Up location in Scottsdale is one of the highest-grossing dispensaries in the state.


Fire & Flower Holdings Corp. (TSX-V: FAF.V) (OTCPK: FFLWF)’s subsidiary, Fire & Flower Inc. (F&F), announced that it has entered into agreements with two of the initial 25 applicants that have been selected by the Alcohol and Gaming Commission of Ontario (the AGCO) to apply for cannabis retail operator licenses in the east region of Ontario.   Both of the applicants have submitted their retail operator license and retail store authorization applications. Following receipt of the agreements, the AGCO has advised the applicants that their applications will proceed to the eligibility phase of review, where they will be assessed for current and continuing compliance with the Cannabis License Act 2018 and its regulations.



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