Toronto, CANADA, October 9, 2018 (CSE: BIO) – Biome Grow (“Biome” or the “Company”) is pleased to announce that it will begin trading on the Canadian Securities Exchange (“CSE”) at market open today under the trading symbol “BIO”.
“Listing on the CSE represents a significant milestone in the growth and expansion of Biome as we continue to build a Canadian cannabis conglomerate,” said Khurram Malik, Interim Chief Executive Officer of Biome. “We believe public listing will provide Biome increased visibility with prospective global investors, improved liquidity, and a more diversified shareholder base as we continue to grow through agreements, partnerships, and acquisitions across Canada and globally.”
Biome is a rapidly growing cannabis company that, under the focused stewardship of experienced and respected leaders in the cannabis space, has acquired four subsidiaries and has approximately 390,000 sq. ft. of production capacity in operation or under development, including:
- Highland Grow, its Nova Scotia-based company, which is already a Licensed Producer under Canada’s Access to Cannabis for Medical Purposes Regulations (“ACMPR”) and is nearing in on sales licensing, pending federal inspections and approvals. Highland Grow sits on 19 acres of farmland near Antigonish, NS and the production facility is in the process of being expanded to 100,000 sq. ft.
- Back Home, its Newfoundland and Labrador-based company, is a late-stage ACMPR applicant. Its facility will be expanded to 168,000 sq. ft. of production capacity in four phases.
- P-209, its facility in Norwich, ON, is also a late stage ACMPR applicant that, pending the requisite federal inspections and approvals, is expected to be in a position to receive licensing shortly after work is completed to bring the facility to 87,000 sq. ft. of production capacity.
- Weed VR, a proprietary multi-platform virtual retail catalog system that will create a comprehensive strain library, is a recent acquisition that will allow Biome to offer an informative and engaging buying experience to consumers without them ever having to enter a traditional dispensary setting.
Biome is also focused on establishing strong regional ecosystems and building relationships that strengthen local communities, including the three-year partnership it has with St. Xavier University to conduct a range of cannabis focused research initiatives.
“Biome is unique through the diversity of our holdings and in that we are steered by some of the best leaders and experts in the cannabis industry, from finance, life science technologies, regulatory affairs, pharmaceuticals, business building and marketing,” added Malik. “We are poised to be leaders in Canada’s cannabis industry with pending legalization, while keeping our eyes squarely on the burgeoning global market, and today’s listing on the CSE positions us to realize even greater success.”
Biome’s CSE listing follows the recent completion of the previously announced three-cornered amalgamation transaction (the “Transaction”) involving Orca Touchscreen Technologies Ltd., Cultivator Catalyst Corp. and 1151856 B.C. Ltd.. Details of the Transaction are available at www.sedar.com.
The securities mentioned herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), or any state securities law and may not be offered or sold in the United States absent registration or an applicable exemption from registration under the Securities Act and applicable state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
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Biome Grow wholly owns Great Lakes Cannabis, a company incorporated under the laws of the Province of Ontario and in the late stages of applying for a license under the ACMPR. Biome also owns four other wholly-owned subsidiaries: Highland Grow Inc., a licensed producer in Nova Scotia under Canada’s ACMPR; The Back Home Medical Cannabis Corporation, a company incorporated under the laws of the Province of Newfoundland and Labrador and in the late stages of applying for a license under the ACMPR; Red Sands Craft Cannabis Co., a company incorporated under the laws of the Province of Prince Edward Island and; Weed Virtual Retail Inc., a company incorporated under the laws of the Province of Ontario in the business of operating a new virtual reality technology platform focused exclusively on the medical and recreational cannabis markets. Biome is a Canadian-based company with national and international business interests.
Certain statements or projections contained in this document are forward-looking statements, including those that discuss the Company’s intention that Great Lakes Cannabis Co. will position itself to supply cannabis products for Canadian and international markets, its expectation that it will receive a cultivation license and the timing associated therewith, the specifics associated with the Great Lakes Cannabis production facility and when such facility will be complete, production capacity in the other provinces in which Biome operates in and the timing of when such facilities will have sufficient local production, its plans to build a local and sustainable ecosystem in Ontario, its plans to operate a diversified mix of low cost licensed cannabis production facilities across Canada and other jurisdictions including internal jurisdictions and the long term business plans of Biome. Such forward-looking statements reflect management’s current beliefs and expectations and are based on assumptions made by and information currently available to the Company, including the assumption it will be able to obtain all necessary regulatory licenses, permits and approvals to produce and sell cannabis and generally operate its business in both Canada and internationally, that labour, construction, and other costs will remain low for its licensed cannabis production facilities, and sufficient financial resources will be available.
These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied in the forward-looking statements, including, among other things, a failure to obtain or delays in obtaining the required regulatory licenses, permits, or approvals, changes to legislation, changes in cannabis research or the general public’s perception of cannabis, crop failure, labour disputes, increases in labour and/or construction costs, rising energy costs, an inability to access financing as needed, and a general economic downturn. These forward-looking statements speak only as of the date on which they are made, and the Company, or any of its subsidiaries undertakes no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.