Choom Holdings Inc. (CHOOF)

[Choom_Investor]

Choom™ Announces Closing of Non-Brokered Private Placement

VANCOUVER, Sept. 20, 2019 /CNW/ – Choom™ (CSE: CHOO; OTCQB: CHOOF), an emerging adult use cannabis company that has secured one of the largest national retail networks in Canada, is pleased to announce it has completed a non-brokered private placement for gross proceeds of C$1.0 Million through the issuance of 2,500,000 units (“Units“). Each Unit consists of one common share and one-half of one transferrable warrant (“Warrant“). Each whole Warrant entitles the holder to purchase an additional common share at an exercise price of $0.60 for a period of 18 months from closing. All securities issued are subject to a hold period expiring four months and one day from the date of issuance.

The Company intends to use the net proceeds from the private placement to advance the Company’s retail store build out strategy and for general G & A purposes.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold.