CannabisNewsBreaks – Choom(TM) (CSE: CHOO) (OTCQB: CHOOF) Continues Expansion of Cannabis Retail Network with 15th Alberta Location

Choom(TM) (CSE: CHOO) (OTCQB: CHOOF), an emerging adult use cannabis company that has secured one of the largest national retail networks in Canada, on Monday announced the opening of a licensed cannabis retail store in Edmonton, Alberta. The latest brick-and-mortar location is slated to open on March 13, 2020. “We look forward to welcoming the community of Edmonton as we share our unique retail experience with the opening of Choom’s 15th location in Alberta,” Choom CEO Corey Gillon said in the news release. “We are thrilled to continue the expansion of our cannabis retail network throughout the province.”

To view the full press release, visit http://cnw.fm/rt69I

Say hello to Choom(TM)

Choom(TM) is an emerging adult use cannabis company whose mission is to establish one of the largest retail networks in Canada. The Choom brand is inspired by Hawaii’s “Choom Gang”—a group of buddies in Honolulu during the 1970s who loved to smoke weed—or as the locals called it, “Choom.” Evoking the spirit of the original Choom Gang, its brand caters to the Canadian adult use market with the ethos of “cultivating good times.” Choom(TM) is focused on delivering an elevated customer experience through its curated retail environments, offering a diversity of brands for Canadians across a national retail network. For more information, visit www.Choom.ca.

About CanadianCannabisWire

CanadianCannabisWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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CannabisNewsBreaks – Choom(TM) Holdings Inc. (CSE: CHOO) (OTCQB: CHOOF) Announces Opening of Next Licensed Cannabis Retail Store in Calgary, Alberta

Choom(TM) (CSE: CHOO) (OTCQB: CHOOF), one of Canada’s leading recreational cannabis retailers, on Tuesday announced the opening of its next licensed cannabis retail store in Calgary, AB. The store, opening in the bedroom community of Shawcliffe, is Choom’s first retail store to open in Calgary, as well as its 14th store in Alberta and 15th location in Canada. “We are very pleased to be opening our first location in the City of Calgary,” Choom CEO Corey Gillon said in the news release. “This new location is another example of the continued commitment to our growth strategy and the vision of sharing our unique retail experience across Canada.”

To view the full press release, visit http://cnw.fm/ZW6jh

Say Hello to Choom(TM)

Choom(TM) is an emerging adult use cannabis company whose mission is to establish one of the largest retail networks in Canada. The Choom brand is inspired by Hawaii’s “Choom Gang”—a group of buddies in Honolulu during the 1970s who loved to smoke weed—or as the locals called it, “Choom”. Evoking the spirit of the original Choom Gang, its brand caters to the Canadian adult use market with the ethos of “cultivating good times.” Choom(TM) is focused on delivering an elevated customer experience through its curated retail environments, offering a diversity of brands for Canadians across a national retail network. For more information, visit www.Choom.ca.

About CanadianCannabisWire

CanadianCannabisWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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420 with CNW – New Jersey Starts Accepting Applications from Additional Marijuana Businesses

On Monday, the Department of Health in New Jersey announced that interested parties could start submitting their applications to grow and sell marijuana. Both nonprofit and for-profit entities are eligible to apply during this round of licensing.

Those planning to be growers or sellers of medical marijuana have until August 21 to submit their applications. New Jersey plans to license five additional cultivation facilities as well as 15 medical marijuana dispensaries. 4 licenses will also be granted to “verticals.” These are entities which are vertically integrated (they can cultivate, process and sell marijuana).

Entities that apply for the licenses will pay an application fee of $20,000 and those whose applications aren’t successful will get back $18,000 of that application fee.

All the people involved in the companies that apply have been notified that they will be subjected to a criminal background check. These people include directors, owners, board members and employees.

The interested companies are also expected to provide proof that the local authorities in the area where they wish to operate have given them approval to operate a marijuana business in that area.

Another requirement is that the companies must submit their security plans as well as an environment impact statement as they send in their applications.

All the companies that apply are expected to show that they have sufficient experience in the particular aspect of the industry for which they would like to be licensed. For example, aspiring growers must show they have experience cultivating medical marijuana. Quality assurance and quality control are important, so applicants are also required to submit their plans for these aspects of their operations.

While the state hasn’t imposed any minimum level of capitalization that aspiring industry participants should have, the applicants are nonetheless expected to provide proof that they have sufficient funding for the operations they wish to undertake. Funds should be available for the activities shown in their plans.

The state has also organized a pre-application webinar for all those interested on August 2. The Department of Health has revealed that people can submit the questions that they would like the department to address during that webinar. While it may not be practically possible to respond to each of the questions submitted, the state will address the issues that cut across the queries sent in.

This medical marijuana program expansion comes at a time when plans to legalize adult-use pot failed after advocates failed to secure ample support in the state senate and a vote on the matter was called off at the last minute. Analysts expect that the cannabis industry, including entities like Choom Holdings Inc. (CSE: CHOO) (OTCQB: CHOOF) and ChineseInvestors.com Inc. (OTCQB: CIIX), will take comfort in the fact that with the expansion of the medical cannabis program, patients will get solutions to many of the issues that they have been facing, such as lack of variety in the products available.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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420 with CNW – Alzheimer’s Patients Can Now Register for Medical Marijuana in Minnesota

Starting from July 1, patients suffering from Alzheimer’s can start enrolling for medical marijuana in Minnesota. Once these patients are registered, they will be permitted to buy medical marijuana from the two licensed manufacturers in the state.

The Department of Health first announced in December last year that Alzheimer’s would be added to the list of qualifying conditions for medical marijuana.

While a review panel had recommended that seven conditions be added to the list, only Alzheimer’s was approved by Jan Malcom, the Health Commissioner. The others which had been proposed include traumatic brain injury and opioid use disorder.

The addition of Alzheimer’s now brings the number of medical marijuana qualifying conditions to 14. This number has been growing every year since the medical marijuana program started five years ago with just 9 qualifying conditions.

Currently, statistics put the number of patients on the state’s medical marijuana program at 15.687 by March 31. The inclusion of Alzheimer’s among the qualifying conditions has the potential to increase the number of registered patients significantly since the Alzheimer’s Association estimates that there are at least 94,000 people who are living with Alzheimer’s in the state. Even if just one tenth of this number signs up for medical marijuana, the patient numbers on the program will swell by a huge percentage.

It isn’t just the Alzheimer’s patients who will benefit when medical marijuana is available. Approximately 254,000 family members and friends are involved in taking care of these patients. When marijuana brings improvements in the behavioral effects of Alzheimer’s, it get easier for caregivers to look after their loved ones.

The Department of Health in Minnesota will use the month of July to process the applications of Alzheimer’s patients and these people will start accessing medical marijuana on August 1. The details of what patients require in order to be certified on the program have been availed on the department’s website.

While no scientific studies have provided any conclusive proof that marijuana can cure, prevent or slow the progress of Alzheimer’s, some recent studies suggest that this could be possible. A small study recently showed that marijuana inhibits the formation of the protein plaque which has been associated with the onset of dementia, one of the leading symptoms of Alzheimer’s.

Minnesota now joins the ranks of states and territories which have included Alzheimer’s among the conditions for which patients may use medical cannabis. Marijuana industry advocates speculate that while the industry players like Earth Science Tech Inc. (OTCQB: ETST) and Choom Holdings Inc. (CSE: CHOO) (OTCQB: CHOOF) may have been disappointed that only one condition was added, they could be pleased that thousands of patients and their families will benefit from medical marijuana.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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420 with CNW – More Pregnant Women Using Marijuana to Treat Morning Sickness

It has been widely reported that marijuana can treat morning sickness, so it isn’t surprising that more women are resorting to cannabis to ease the symptoms of morning sickness during the initial stages of pregnancy. Researchers have found that the number of pregnant women turning to cannabis is higher than it ever was.

The study published in the JAMA journal found that the number of women who use cannabis to deal with morning sickness has more than doubled from just 3.4 percent in 2002 to 7 percent in 2017.

These findings were obtained after analyzing the data collected during the National Survey on Drug Use and Health. The researchers specifically considered the data provided by 4,400 pregnant women as well as 133,900 women who weren’t pregnant.

The study participants had responded to questions regarding their pregnancy status and other questions about their cannabis use habits, if they used cannabis.

This study reveals that women use marijuana for various reasons, both medicinal and recreational. More specifically, the number of women who used marijuana daily or almost daily grew from 0.9 percent to about 3.4 percent.

Notably, the number of women who used marijuana during their first trimester of pregnancy shot up from 1.9 percent to 5.3 percent while those who used the substance during their second trimester rose to 2.5 percent from 0.6 percent in 2002. A similar increase was seen regarding marijuana use during the third trimester (a growth from 0.5 percent to 2.5 percent in 2017).

The researchers noted that while lots of women are turning to cannabis during pregnancy, only a small fraction of those women did so after getting a recommendation from a doctor.

The study also revealed that doctors are uncomfortable recommending marijuana for pregnant women in states where medical marijuana is legal. This reluctance is largely due to the shortage of research on the effects of prenatal marijuana exposure.

In fact, NIDA (the National Institute on Drug Abuse) says the use of marijuana during the first and second trimester of pregnancy has been linked to low birth weight and length, as well as other developmental problems.

The study’s authors emphasized that there is an urgent need to screen all pregnant women for marijuana use and intervene appropriately when risks are detected. The researchers also called for more research to be done to document the effects of marijuana use during pregnancy so that decisions can be made using concrete information on the subject rather than simply asking women to err on the side of caution and abstain.

Analysts think that the cannabis industry, including participants like Choom Holdings Inc. (CSE: CHOO) (OTCQB: CHOOF) and ChineseInvestors.com Inc. (OTCQB: CIIX), agrees with the researchers on the matter of research-based recommendations regarding cannabis use by different demographics.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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420 with CNW – Oregon Legislature Approves Marijuana Criminal Record Expungement

The legislature in Oregon has voted to approve a law which will see the marijuana convictions of tens of thousands of Oregonians expunged so that those individuals can have a better chance at finding jobs, getting an education and having access to housing.

Senate Bill 420 seeks to clear all marijuana convictions which are no longer crimes from the time marijuana was legalized in the state in 2014. This means people who were prosecuted and convicted prior to 2014 can have their slate wiped clean.

This bill was initially approved by a 25-4 vote by the Senate in April. However, the bill was modified when it was taken to the Assembly, so the modifications were brought back for approval by the Senate. The State Senate repassed the bill with a similar 25-4 vote. What is now left is Gov. Kate Brown’s signature so that the bill becomes law.

It isn’t immediately clear how many people are eligible to have their criminal record wiped. This is because in the past, court records didn’t reflect the specific controlled substance that an accused person was charged with.

However, estimates put the number of people who were convicted for marijuana possession at about 20,000-75,000 individuals.

Once this bill becomes law, anyone who was convicted for a marijuana crime that is no longer in the law books can fill out a form asking to have their conviction expunged.

Sen. Lew Frederick (D-Portland) supported the bill and says it was long overdue since marijuana convictions follow someone throughout their life and make it hard for that person to get housing, find a job or get an education.

In a related development, the Oregon House also passed a bill granting the state governor authority to negotiate agreements with other states for the purpose of exporting Oregon’s excess marijuana as soon as the federal government tolerates or legalizes interstate marijuana commerce. This bill was passed on the same day (Tuesday, June 11) that the expungement bill was passed.

Supporters of Senate Bill 582 say that Oregon is being forward looking by passing enabling laws in preparation for federal reform of cannabis policies. Some even said that this bill isn’t an endorsement of the cannabis industry, but rather provides support for the business community since exporting marijuana would create more jobs and bring revenue into Oregon from the states with which it is trading.

It should be remembered that Oregon has a massive surplus of marijuana, and some people say about six years are needed to consume this excess if current demand levels are maintained.

However, opponents of SB 582 say that the bill is of no consequence since it is akin to hiring a financial advisor simply because you expect that you will soon win the lottery.

Analysts wonder what cannabis industry players like Choom Holdings Inc. (CSE: CHOO) (OTCQB: CHOOF) and ChineseInvestors.com Inc. (OTCQB: CIIX) have to say about the export bill passed by Oregon’s Senate.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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420 with CNW – Illinois Just a Step Away from Legalizing Marijuana After Assembly Passes Senate Bill

The Illinois Senate passed a bill legalizing recreational marijuana and left the Assembly with just two days to approve the changes made to HB 1438 before the current legislative session ends. The House did just that on Friday (May 31), and what is left is for the governor to sign that bill into law so that the state becomes the 11th across the country to fully legalize marijuana.

Gov. Pritzker campaigned on a platform of marijuana legalization, so he is widely expected to sign off on the bill when it gets to his desk.

If the bill becomes law, adults in Illinois aged 21 or older will be allowed to possess up to 30 grams of cannabis and the patients who are registered on the state’s medical cannabis program will now have the liberty to grow a limited number of plants for their own use. Recreational users will not be allowed to grow marijuana.

Nonresidents of Illinois will also be allowed to possess a maximum of 15 grams of marijuana without any risk that they will be prosecuted.

Rep. Kelly Cassidy, who sponsored the bill, was visibly elated and cheered as the votes came in during a session to pass the bill. The final count was 66-47, and supporters erupted into loud celebration once it was announced that the bill had passed, just in time before the end of the legislative session.

Cassidy remarked that Illinois had taken a big step towards setting the gold standard for a regulated marijuana industry which is based on equity and repair (of the harms done during the war on drugs).

This bill couldn’t have passed at a better time because the state is currently cash-strapped. The tax revenue from the regulated industry is expected to go a long way towards improving the fiscal position of the state. Currently, the pension programs of the state are short by approximately $134 billion, and the state has unpaid bills totaling $7 billion as a result of the persistent budgetary shortfalls.

During his campaign, Pritzker is on record saying that a regulated marijuana industry has the potential of adding $1 billion in tax revenue to the state each year, and the law enforcement agencies would be free to focus on other serious crimes instead of spreading themselves thin going after people who use marijuana.

However, not everyone is as positive as the governor regarding marijuana legalization. For example, Rep. Anthony DeLucas (D-Chicago Heights) regrets the passing of the bill saying that it is taking the state in the wrong direction. Earth Science Tech Inc. (OTCQB: ETST) and Choom Holdings Inc. (CSE: CHOO) (OTCQB: CHOOF) are certain that time will disprove the fears of Anthony DeLucas and all those who think like him regarding a legalized marijuana industry.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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420 with CNW – New York Legislators Introduce New Marijuana Legalization Bill

The sponsors of the first recreational cannabis bill in New York have now introduced a new bill which will replace the one that wasn’t included in the budget framework read early this year. The sponsors of this new bill are convinced that this version stands a higher chance of success because it incorporates the ideas suggested during negotiations prior to reading the budget.

Sen. Liz Krueger (D-Manhattan) says that the new bill creates a single government entity which will be responsible for regulating all the cannabis and cannabis-related products, such as hemp and CBD products.

Hemp and CBD products are included in this bill in order to remove the legal gray area since those products aren’t currently covered by any existing law. By including these products in this bill, the lawmakers want to save the time and resources which would have been used to draft and pass a separate bill for those products.

Crystal Peoples-Stokes, the Assembly Majority Leader and longstanding supporter of cannabis legalization, says that the new bill also has a social equity provision through which a portion of the tax revenue collected will be allocated for spending in communities which suffered the worst of the futile war on drugs.

Other provisions of the bill deal with expunging past criminal records, helping people from disadvantaged communities to enter the legal cannabis industry and agreeing on a taxation structure.

One major issue that was divisive was the home cultivation of marijuana. Opponents of cannabis legalization don’t want this included in any legalization law, while supporters, such as New York Mayor Bill de Blasio, insist that home cultivation should be allowed so that “Big Marijuana” doesn’t dominate the industry.

Some money will also be set aside to facilitate the police to enforce the new recreational cannabis law, while more money will be allocated to cannabis research, drug prevention and treatment.

Another compromise which is included in the new bill relates to marijuana criminal record expungement. The previous bill recommended mass expungement and this was met with stiff opposition. The revised bill suggests that only misdemeanor cannabis convictions will be expunged.

Many aspects of the medical cannabis program are also tackled in this bill. For example, the bill seeks to allow doctors to exercise their discretion in determining whether medical cannabis could be helpful for a given patient, instead of being restricted to prescribing it only for patients who suffer from one or more of the 17 qualifying conditions listed in the law in place.

The entire cannabis industry, including Earth Science Tech Inc. (OTCQB: ETST) and Choom Holdings Inc. (CSE: CHOO) (OTCQB: CHOOF) hope that this new bill receives a more favorable reception so that cannabis legalization isn’t delayed any longer.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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420 with CNW – Two Cannabis Bills to be Voted on by Congressional Committee this Week

Two bills dealing with access to medical marijuana by veterans are slated to be voted on by a congressional committee today (Wednesday, May 8). This vote comes barely a week after the Veterans’ Affairs Subcommittee of Health conducted a hearing on the bills.

One of the bills up for a vote has to do with allowing VA doctors to prescribe medical marijuana. This bill also seeks to codify into law an existing policy which protects the VA benefits of veterans who use medical cannabis in accordance with state law.

The second bill that will be voted on seeks to compel the VA department to conduct research about the medicinal effects of cannabis for the common conditions which veterans suffer from. These include post-traumatic stress disorder and chronic pain.

A third bill which isn’t going to be voted on focused on allowing VA doctors to recommend medical cannabis for veterans who can be helped by the substance. This bill, sponsored by Rep. Earl Blumenaeuer, will not be voted on because its contents are already included in another bill that has been scheduled for a vote.

The broader bill also includes a clause which stops VA doctors from making medical records that state that a veteran suffers from “substance abuse disorder” if that individual uses cannabis in a state where marijuana is legal.

Another clause which was added to that bill asks the VA secretary to generate new diagnostic codes tailored to cannabis use.

Advocates have urged the Veterans’ Affairs committee to take action now so that veterans no longer have to go underground to access medical cannabis to relieve their symptoms. The advocates added that medical marijuana is here to stay, so there is no point in continuing to think along prohibitionist lines.

These bills to be voted upon mark yet another step in the push to reform federal marijuana laws. In March, another House committee passed a bill which intends to protect banks from federal prosecution resulting from the banks’ dealings with state-legal marijuana companies.

These bills being fronted in different House committees are in line with the “blueprint” designed by Rep. Blumenaeuer last year. In that blueprint, the congressman urged different committees to push through marijuana law reforms that fall in the ambit of their committees so that at the end of that process, the overall federal marijuana policy will have been overhauled.

Earth Science Tech, Inc. (OTCQB: ETST) and Choom Holdings Inc. (CSE: CHOO) (OTCQB: CHOOF) hope that the bills are passed by the House committee and the entire Congress so that the men and women who have served this nation in the armed forces access medical marijuana in their time of need.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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420 with CNW – SOL Global Expands into Michigan Cannabis Industry with $150M Acquisition

On April 23, 2019, SOL Global, one of the leading medical cannabis companies in Florida, signed a binding letter of intent with Merida Capital Partners to acquire MCP Wellness, Inc., a subsidiary of Merida Capital.

The acquisition is worth $150 million, and it will see SOL Global take over the Michigan firm which is just about to acquire two licenses to cultivate cannabis as well as a license to process the cannabis and three more to dispense medical cannabis.

Additionally, MCP Wellness, Inc. has plans to establish nine provisioning (dispensing) centers by August this year if the municipalities approve their plans in time.

If all these plans go ahead as scheduled, SOL Global and Merida Capital Partners anticipate that the revenue of MCP Wellness, Inc. will exceed $61 million this year and grow to more than $121 million next calendar year (2020).

The acquisition of MCP Wellness, Inc. by SOL Global is expected to be concluded in May this year after the negotiation process, regulatory approval and other related requirements are met by both parties.

SOL Global owns a vertically integrated cannabis company in Florida called “3 Boys” through its subsidiary CannCure Investments Inc. SOL Global plans to fold MCP Wellness Inc. into 3 Boys and form a marijuana multi-state operator (MSO) called CannCure.

The letter of intent signed states that the purchase price of $150 million will not be fully paid in cash. Only $35 million will be paid in cash while the remaining $115 million will be in the form of equity in CannCure offered to Merida Capital Partners. This means that MCP will own a 42 percent stake in the new multi-state operator.

After the acquisition, the 110,000-square foot MCP Wellness Inc. cultivation facility in Michigan will be retrofitted so that CannCure can have added capacity to meet the rapidly growing demand for medical cannabis in Michigan.

Meanwhile, 3 Boys will also continue its own expansion drive within Florida. The company has already got the nod from the Office of Medical Marijuana and the Department of Health in Florida to start processing and provisioning medical marijuana products at their new facility in Indiantown, Florida.

SOL Global and Merida Capital Partners intend to spread their wings in other states as well. For example, SOL Global may soon finalize its plans to acquire a major cultivator and processer in California. Once that deal is concluded, SOL Global wants to take the multistate operator public on an exchange in Canada.

Choom Holdings Inc. (CSE: CHOO) (OTCQB: CHOOF) and ChineseInvestors.com Inc. (OTCQB: CIIX) congratulate SOL Global and Merida Capital upon the massive strides that they are taking to increase their footprint within the cannabis industry.

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