Wall Street Signals: $CHOOF: Choom Eyes Better Choice’s CBD Animal Products

$CHOOF: Choom Eyes Better Choice’s CBD Animal Products

Choom Holdings (CSE: CHOO) (OTCQB: CHOOF) is looking to enter the CBD animal health products market.
The Canadian firm has marked an update of comprehension with the U.S.- based Better Choice Co. for the elite dissemination rights to the organization's cannabidiol Bona Vida items intended for creature wellbeing and health once endorsed available to be purchased in Canada. 
The terms of the MOU are not revealed. 
U.S. pet proprietors are evaluated to have spent over $70 billion out of 2018 on pet supplies, medications, and veterinary consideration, as per the American Pet Products Association.

Better Choice Products

Under its Bona Vida brand, Better Choice offers CBD pet-focused products in the form of oils and soft chews with formulations designed to aid the state of good health and well-being in pets.
Bona Vida has formulations targeting animals relaxation and heart support, muscle and joint, as well as, skin and body.
“We recognize the importance of growing our brand portfolio and having the sole distribution rights for Better Choice products helps us achieve that in an entirely new market on the horizon in pet use products,” Chris Bogart, the CEO of Choom, said in a statement.
“From what we know of in the United States, the CBD products for pet use market has proven to be a high margin business. As the normalization of cannabis-based products in Canada grows, consumers will begin to shift towards these new natural alternative treatments for their pets,” Bogart added.