Choom Holdings Inc. (CHOOF)

[TheHunter2013]

Choom Announces Q1 2021 Financial Results
Reporting Record Revenue of $6.1 million

Vancouver, BC – December 01, 2020– Choom Holdings Inc. (“Choom” or the “Company”) (CSE: CHOO; OTCQB: CHOOF), a fast-expanding retail cannabis company that has established one of the largest store networks in Canada, is pleased to report its financial and operating results for the first quarter of fiscal 2021 ending September 30, 2020.

First Quarter Financial Highlights:

Q1 2021 revenue of $6.1M
o Increase of $2M and 50% over Q4 2020 revenue of $4.1M
Q1 2021 Gross Margin of 36.33%
o Increase of 3.06% over Q4 2020 gross margin of 33.26%
Q1 2021 G&A of $1M or 15.74% of revenue
o Versus $1.2M or 28.68% of revenue Q4 2020
Q1 2021 Salary and Wages of $1.1M or 18.24% of revenue
o Versus $0.8M or 20.17% of revenue Q4 2020