Skyrocketing Demand Proving More Cannabis Dispensaries Needed In U. S. And Canada
Palm Beach, FL – March 25, 2019 — Across the U.S. and Canada, the consumer demand for cannabis products continues its steady growth… but one obstacle could be the unmet need for more dispensaries. A recent Forbes article said that after legalization: “… the rollout hasn’t been as smooth as they would have liked… The most pressing problem facing the country’s legal weed market is the fact that, in the majority of provinces, suppliers are unable to meet demand… the complexity of scaling up a national legal cannabis supply chain has left many retailers with just a fraction of the promised products. In many areas, the supply shortage may last well into 2019.” Although the article continued to say that: ““Health Canada has added significant resources to attempt to shorten the approval process, but the backlog is significant,” McIntyre explained. “In the coming months, we expect to see this supply shortage ease.” 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), MedMen Enterprises Inc. (CSE: MMEN) (OTC: MMNFF), Curaleaf Holdings, Inc. (OTC: CURLF) (CSE: CURA) Trulieve Cannabis Corporation (OTC: TCNNF) (CSE: TRUL).
An article in the National Retailer Federation said there may be growing pains within the internal operations of these stores: “Cannabis retailers also face the same challenges that many ordinary retailers do. There’s a growing demand for point-of-sale and inventory management systems to meet the unique needs of the industry. (An industry insider) says many companies are “winging it” with off-the-shelf solutions that don’t serve their industry… “Just like any other retail business, success is based on understanding your customer — who they are, what their needs and pain points are and how to design the store to create a comfortable and easily navigable shopping experience.” The article concluded: ““The industry is on the way there, in terms of being in better shape on the software side from a retail perspective… As the adult-use market grows… the companies out there will continue to improve, and more players will pop up.”
Choom™ Holdings Inc. (CSE:CHOO) (OTCQB:CHOOF) BREAKING NEWS: Choom™, an emerging adult and medical use cannabis company that has secured one of the largest national retail networks in Canada, is pleased to announce, following its strategy to become a multi-state operator, that it intends to expand into Florida. Choom, through its wholly owned US subsidiary, Choom Holdings USA Inc., has signed a letter of intent (“LOI”) to purchase a 95% equity interest in a Florida-based vertically-integrated cannabis applicant (the “FL Company”).
The FL Company is progressing on its Master License application to operate up to 25 retail locations with potential for more as the number of registered patients increase, as well as, a micro-processing and cultivation facility for medical purposes. Upon completing the transaction, Choom will use its medical brand, Clarity Medical Centres, to create a network of branded Medical Marijuana Treatment Centers. Florida’s medical marijuana program has over 190,000 qualified patients, up from approximately 168,000 at the start of 2019, making it the largest medical marijuana market in the United States. Florida has recently allowed the use of smokable medical marijuana products, potentially opening the program to a considerably larger audience.
“We are very excited to be expanding into Florida and to bring Choom’s medical brand into that market. Florida’s medical marijuana program is a very attractive opportunity for us seeing that it allows for vertically-integrated operations and it has been a market we’ve had our sights on for a while now.” states Chris Bogart, President & CEO of Choom. “This investment aligns with our strategy of becoming a multi-state operator in the US and helps us to bolster our growth targets. Florida is home to over 21 million residents and has shown impressive year over year growth on the number of registered patients with a large portion of the market being relatively uncaptured.” Read this and more news for Choom™ at: https://financialnewsmedia.com/news-choo/
Additional industry related developments from around the markets:
MedMen Enterprises Inc. (OTCQX: MMNFF) (CSE: MMEN) recently announced that it has signed a binding term sheet for a senior secured convertible credit facility of up to US$250,000,000 (the “Facility”) from funds managed by Gotham Green Partners (“GGP” or the “Investor”), an investor in the global cannabis industry. Management believes this is the largest investment to date by a single investor in a publicly traded cannabis company with U.S. operations.
“This strategic partnership with Gotham Green Partners represents another key milestone for MedMen and stems from our long-standing relationship with The Cronos Group and GGP’s brand portfolio,” said Adam Bierman, CEO of MedMen. “The growth capital will be used to operationalize the balance of our footprint and we look forward to creating further alignment with GGP and their global cannabis platform.”
Curaleaf Holdings, Inc. (OTCQX: CURLF) (CSE: CURA) a leading vertically integrated cannabis operator in the United States, recently announced the grand opening of its Gainesville dispensary as the company continues to expand rapidly throughout the state. Curaleaf has the largest cannabis dispensary footprint in the US.
“Strong patient demand in the Gainesville area supported the transformation of our fulfillment center into a full-service dispensary where Alachua County patients can take advantage of our compassionate, exceptional customer service and educational resources, in addition to having access to our premium quality medical marijuana products,” shared Joe Lusardi, Curaleaf CEO.
Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) recently announced that it has appointed Nelson Peltz as a Strategic Advisor. Mr. Peltz and Aurora will work collaboratively and strategically to explore potential partnerships that would be the optimal strategic fit for successful entry into each of Aurora’s contemplated market segments. Mr. Peltz will also advise on the Company’s global expansion strategy.
“Nelson is a globally recognized business visionary with a strong track record of constructive engagement to generate accelerated, profitable growth and shareholder value across many industry verticals that are of great interest to us,” said Terry Booth, CEO. “Like us, Nelson also takes a long-term view of value creation to benefit all stakeholders. We look forward to working with Nelson to further extend our global cannabis industry leadership by aligning Aurora with each of the major market segments cannabis is set to impact.”
Trulieve Cannabis Corp. (OTCPK: TCNNF) (CNSX: TRUL) a leading and top performing cannabis company in the United States, recently announced it was the first medical marijuana licensee in Florida to make a sale of smokable cannabis. The sale took place at Trulieve’s Tallahassee dispensary, the first dispensary to have opened in the state.
“We are excited about the opportunity to sell whole flower smokable products to patients in Florida and honored to be the first company in Florida to do so. Thank you to Governor DeSantis and the Legislature for taking up and approving smokable products in Florida and special thanks to the Department of Health and the Office of Medical Marijuana Use for their quick action to make today a reality for patients in need. Offering these whole flower products to our patients in their purest, most effective form is something we – and patients – have been looking forward to since we opened the doors of the state’s first dispensary,” said Trulieve CEO Kim Rivers .
DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM has been compensated thirty one hundred dollars for news coverage of the current press release issued above by Choom™ Holdings Inc. by a non affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
Media Contact email: email@example.com – +1(561)325-8757