Choom Holdings Inc (CHOO)

Choom went bankrupt last year lol

Grabbed some here, maybe it pops before SEC crooks shut it down, who knows

https://www.barrons.com/articles/bidens-legalize-cannabis-weed-stocks-51665147054

CALGARY, AB, July 7, 2022 /PRNewswire/ - High Tide Inc. ("High Tide" or the "Company") (Nasdaq: HITI) (TSXV: HITI) (FSE: 2LYA), a leading retail-focused cannabis company with bricks-and-mortar as well as global e-commerce assets, is pleased to announce that it is further expanding its bricks-and-mortar retail cannabis operations and entering the British Columbia market, through a binding agreement (the "Acquisition Agreement") pursuant to which High Tide will acquire two operating retail cannabis stores in British Columbia, six operating retail cannabis stores in Alberta, and one operating retail cannabis store in Ontario (collectively, the "Stores") from Choom Holdings Inc. (CSE: CHOO) (OTCQB: CHOOF) and its subsidiaries (together, "Choom"), for CAD$5.1 million (the "Transaction"), pending court approval on July 7, 2022.

High Tide Inc. (CNW Group/High Tide Inc.)

"I am thrilled to be announcing this deal today, which represents the third public company whose assets we have integrated into the High Tide portfolio since November 2020, following the acquisitions of Meta Growth and Smoke Cartel. Choom was one of the original and long-standing brands in cannabis retail with a presence across the country and a similar brand personality to Canna Cabana. This will make the integration of Choom into the Canna Cabana brand seamless," said Raj Grover, President and Chief Executive Officer of High Tide. "While Choom had 17 operational stores before entering CCAA proceedings, we are able to acquire the nine locations that we want across three provinces at an attractive price of 3.8x annualized Adjusted EBITDA[1]. With these acquisitions, we are able to bring our innovative discount club model to Vancouver, Canada's third-largest metropolitan area, as well as numerous new markets in Alberta where we do not yet have a presence. I look forward to giving a warm welcome to the team members from Choom as they join the High Tide family," added Mr. Grover.


___________________________


1Adjusted EBITDA is a non-IFRS financial measure.

The Stores have the following addresses:

191 West 2nd Avenue in Vancouver, British Columbia (the "Vancouver West 2nd Store"). The Vancouver West 2nd Store is located in the trendy Mount Pleasant neighbourhood, close to numerous popular restaurants and retail stores, as well as the Olympic Village and Science World.
1391 Richards Street in Vancouver, British Columbia (the "Vancouver Richards Store"). The Vancouver Richards Store is located in the trendy and densely-populated Yaletown neighbourhood in downtown Vancouver.
7555 Montrose Road in Niagara Falls, Ontario (the "Niagara Store"). The Niagara Store is located in Niagara Square, an outlet mall anchored by numerous national big box and discount retailers.
115 2nd Avenue West in Brooks, Alberta (the "Brooks Store"). The Brooks Store is located in the centre of Brooks, close to numerous retail businesses.
5308 50th Avenue in Cold Lake, Alberta (the "Cold Lake 50th Avenue Store"). The Cold Lake 50th Avenue Store is part of a commercial district in Cold Lake South containing numerous restaurants and other businesses.
1020 8th Avenue in Cold Lake, Alberta (the "Cold Lake 8th Avenue Store"). The Cold Lake 8th Avenue Store is located on the main east-west street in Cold Lake North, close to several businesses, restaurants, and hotels.
320 Centre Street in Drumheller, Alberta (the "Drumheller Store"). The Drumheller Store is located in central Drumheller, close to a variety of local businesses and restaurants.
2719 14th Street SW in Calgary, Alberta (the "Calgary Store"). The Calgary Store is located on a well-trafficked road in southwest Calgary and is easily accessible for residents of nearby communities with favourable cannabis demographics, such as Bankview and South Calgary.
10140 107th Street in Westlock, Alberta (the "Westlock Store"). The Westlock Store is located in the town's commercial centre, close to numerous businesses.
For the three months ended April 30, 2022, collectively, the Stores generated annualized revenue of CAD$10.2 million and annualized Adjusted EBITDA of CAD$1.3 million. The purchase price represents 3.8x annualized Adjusted EBITDA for the three months ended April 30, 2022.

TRANSACTION DETAILS
The Transaction, which is an arm's length transaction, is subject to, among other things, receipt of required TSX Venture Exchange ("TSXV") approval, court approval, approval from various provincial regulators, and other customary conditions of closing, and is expected to close in the coming weeks. The consideration (the "Consideration") for the Stores being acquired will be CAD$5.1 million, which is to be satisfied through the issuance of common shares of High Tide ("High Tide Shares") on closing of the Transaction (the "Closing") on the basis of a deemed price per High Tide Share equal to the volume weighted average price per High Tide Share on TSXV for the 10 consecutive trading days preceding the Closing. The Transaction may close in multiple tranches depending on the speed of provincial regulatory approvals. Inclusive of the Stores, following the Closing, High Tide will have at least 43 stores in Ontario, 2 stores in British Columbia, 72 stores in Alberta, and 136 stores nationwide.

high tide(hiti) is buying 9 of their stores and issuing stock for purchase

Maybe they will have a class action suit against the company.

The management is crooked. They kept adding more shares to sell and fill their pockets with investor money. That was the plan they had all along. CROOKS.....

https://webfiles.thecse.com/resource/CSE_Policy_3_Suspensions_and_Inactive_Issuers.pdf?8xRXkYLxtQ33hB_z8Z.oUnsc0C_y0nu6


CSE Bulletin: Suspensions (SKLL, CHOO, CHOO.WT)
06/06/2022 12:24 PM ET
Toronto, Ontario--(Newsfile Corp. - Le 6 juin/June 2022) - Effective immediately, the following companies are suspended pursuant to CSE Policy 3. The suspensions are considered Regulatory Halts as defined in National Instrument 23-101 Trading Rules. Cease Trade Orders have been issued by one or more securities commissions.
For more information about Cease Trade Orders, visit the Canadian Securities Administrators Cease Trade Order database at www.securities-administrators.ca.
_________________________________
En vigueur immédiatement, les sociétés suivantes sont suspendues conformément à la politique 3 du CSE. Les suspensions sont considérées comme des arrêts réglementaires au sens du Règlement 23-101 sur les règles de négociation. Un ordre d'interdiction d'opérations a été émis par une ou plusieurs commissions des valeurs mobilières.
Pour en savoir plus sur les ordonnances d'interdiction d'opérations, visitez la base de données des ordonnances d'interdiction d'opérations des Autorités canadiennes en valeurs mobilières à www.securities-administrators.ca.
Company Symbol/ Securities Commission/Commission des Valeurs
Name/Nom de Symbole : Mobilières
la compagnie
:
Royal Wins SKLL Ontario Securities Commission
Corporation
Choom CHOO, Ontario Securities Commission and British Columbia
Holdings CHOO.WT Securities Commission
Inc.
If you have any questions or require further information please contact Listings at (416) 367-7340 or E-mail: Listings@thecse.com.
Si vous avez des questions ou si vous avez besoin d'informations supplémentaires, veuillez contacter le service des inscriptions au 416 367-7340 ou par courriel l'adresse: Listings@thecse.com.
(END) Dow Jones Newswires
June 06, 2022 12:24 ET (16:24 GMT)

Company went down the pooper

Trading halted this morning in Canada.

https://www.foodprocessing.com/industrynews/2022/boston-beer-launches-thc-infused-drink-in-canada/

The management got too greedy and paid themselves hefty wages. They also kept adding more shares and it got them in a bind now the investors are paying the price. I liked the company until I noticed them added shares every time the earnings came out. I got out with a loss after being with them for 3 years. The company name should be POOP Holdings Inc. and that's because they are full of shit. Good luck with the trash.

At this PPS/volume level all it takes is a couple hundred bucks to manipulate the PPS.

Why does CHOOF keep spiking like this?

Horrible! Rip

Most likely Preferred shareholders will receive pennies on the dollar. Common share holders will be wiped out.

Have to! They are
Bankrupt!

Sucks! I liked this company
But they are hugely in debt!
Bill collectors are after them!

They will get a true valuation during this process. Lets hope they did not lie about their revenues licenses or assets. Licenses will be worth millions alone.
GLTA

Let's hope they sell the company.

Debt collectors are after them!
I liked this til I found that out!

Garbage! Can't hold 01
Back to otc pinks

What is the reason for an otcQB stock like $CHOOF to have a sustained meltdown?

unfortunately TooFrank could be right with posting R.S. worst case scenario . I'm not selling until U.S. federal legislation is activated . I think it's highly unlikely this brand will just disappear . the connection to the first gray president of the U.S. , the Choom club creates value in this operation . I want to see this succeed because ......sacred herb .

HOLD OR SELL.......COMMENTS.

Corporate recapitalization, merger, acquisition, spin-off, reorganization.

Expect RS

The Companies are seeking creditor protection under the CCAA in order to permit the Companies to conduct a sale and investment solicitation process ("SISP") and facilitate a transaction that will allow the Companies to address their liquidity issues and stabilize operations.

Well not sure how bad this is but does not look good.

Choom filed for a protection order CCAA

Vancouver, British Columbia--(Newsfile Corp. - April 22, 2022) - Choom Holdings Inc. (CSE: CHOO) (OTCQB: CHOOF) ("Choom"), announces today that Choom and certain of its subsidiaries (Choom BC Retail Holdings Inc., 2151414 Alberta Ltd., 2688412 Ontario Inc., and Phivida Holdings Inc., herein the "Subsidiaries", and together with Choom, the "Companies") have obtained an order (the "Initial Order") of the Supreme Court of British Columbia providing the Companies protection from their creditors pursuant to the Companies' Creditors Arrangement Act (Canada) ("CCAA").

As part of the Initial Order, the Companies are authorized to enter into an interim financing term sheet (the "Interim Financing") with Aurora Cannabis Inc. (the "Lender") pursuant to which the Lenders has agreed to advance to the Companies up to an aggregate of $0.8 million to fund the Companies' ongoing operations and CCAA proceedings.

CCAA Proceedings

The Companies have obtained CCAA protection for an initial period of 10 days, expiring on May 2, 2022 and the Court has set a further hearing date of May 2, 2022 at which time an extension of the protection under the CCAA will be sought. Pursuant to the Initial Order, Ernst & Young Inc. has been appointed as monitor in the Companies' CCAA proceeding (in that capacity, the "Monitor").

While under CCAA protection, creditors and others are stayed from pursuing any claims or enforcing any rights against the Companies. The Companies are seeking creditor protection under the CCAA in order to permit the Companies to conduct a sale and investment solicitation process ("SISP") and facilitate a transaction that will allow the Companies to address their liquidity issues and stabilize operations. The Companies intend to operate in the ordinary course throughout the CCAA proceedings and while conducting the SISP. Management of the Companies will remain responsible for the day-to-day operations of the Companies, under the general oversight of the Monitor. The Companies' day-to-day obligations to employees and key suppliers of goods and services, from and after the filing date, is expected to continue to be met.

They have good revenue 4.7-5 mil a Q just need better management

Abandoned a sinking ship.

Maybe this explains most of the downtrend and unloading of shares.

NEWS
Choom Announces Changes to Board of Directors
04/08/2022 08:17 PM ET
Vancouver, British Columbia--(Newsfile Corp. - April 8, 2022) - Choom Holdings Inc. (CSE: CHOO) (OTCQB: CHOOF) ("Choom" or the "Company"), a Canadian retail Company focused on delivering an elevated customer experience through high quality service, announces that Mr. Kevin Puil and Peter Simeon have resigned from the board of directors of the Company effective immediately. "The Company has commenced a search for suitable independent directors to fill the vacancies left by the resignations and expects to have potential candidates to appoint in the near future."
The Company thanks Mr. Puil and Mr. Simeon for their contributions and wish them every success in their future endeavors.

As predicted! One of the few down at $.01 with revenues and stores in Canada. This should be a solid 200-300% gainer.

Hang on tight! Could be quite a ride!

Looks like it's a good time to load for the 4/20 MJ pump that's incoming.

Financials. https://investors.choom.ca/choom-announces-q2-financial-results/

INVESTORS BEWARE Choom robbed the investors. This company is not even worth the toilet paper used to wipe your azz. I was with this company for almost 4 years and lost thousands of dollars. The CEO must be proud to have taken advantage of all the people that invested with this garbage. They painted a pretty picture and made things look great for the investors to keep pouring money in the company just so, they can rake it all up. Every time the earnings come out they dilute the price per share with more shares. The only way the shares should be added is by having a split so, the investors get more shares and it compensates for the added shares this way your portfolio value doesn't drop.

Interesting Read.
https://www.usatoday.com/story/opinion/2022/02/21/federal-marijuana-laws-cannabis-reform/6801358001/

Well, This forum died just like choof.

I bashed the CEO a few days ago on Facebook. They are raping all the investors for their own Financial gain. If it wouldn't be for the investors he would not have all the stores. They keep diluting the company with more shares every time the earnings come out. Eventually they'll have a reverse split and rape us again. The ticker symbol should be POOP not CHOOF or CHOOM.

I'm so down. There are some Facebook groups - choom investors, and previously known as phividia that we can raise our voices. Also instagram!!!

I just bashed the CEO on Facebook about diluting the company with needless shares

Go on Facebook and start bashing them about how unhappy the investors are. That will not help.You can e-mail them all you want and nothing will help. Try it you'll see that it will not help.

Maybe we all should start calling them out on Social Media. Facebook Instagram etc. Whenever they post a add show them investors are not happy with the returns.
Sometime you have to light a little fire under someone ass in order to get them moving and comment questioning our investments just might get it going?

When they read your e-mail they will just laugh all the way to the bank with everyones money. They are raping us and all I have left is my underwear on. When they take my underwear then, they can kiss my ass.

Isn't it obvious!!!!! They are robbing us, us as simple as that

I can tell you that they are raping all the investors. That's the plan they had along to rape all of us. I have been with Choom since 2019 and lost a ton of money. Kept trying to averaging down and I am done buying this fu**ing trash. They should change the ticker symbol from CHOOF to POOP because that's exactly what is is.

My email to the board of directors this morning:

As someone who has poured over $80000 into this company I want to know what you guys are doing with our money and when you expect this project to be profitable. I've been holding on since the all time high and it has been nothing but disappointment for years.

This is absolutely criminal in my opinion and it's mind blowing that you guys do not release any updates or statements on the state of our share price.

I'm taking the gloves off and literally asking what the fuck are you guys doing with our money?

That's exactly what they're focused on THEMSELF'S for financial gain and they say the hell with the investors.

Yep, they've killed the capital structure to benefit acb & themselves at the expense of retail investors, sadly.

My shares came over from phivida, which was just as bad, unfortunately.

I dont really see much of a path for them.

They're not focused on building much of anything.

Too focused on themselves, and handing out low priced shares & warrants.

All imo
Glta
Gw

I don’t believe they will ever go green. The management are scavengers. They earn hefty paychecks while they keep adding more shares which dilutes the share price.