TORONTO, Aug. 14, 2019 (GLOBE NEWSWIRE) — Biome Grow Inc. (“Biome” or the “Company”) (CSE:BIO) (Frankfurt: 6OTA) (OTCQB:BIOIF) is pleased to announce that it has been licensed for the retail sale of cannabis in the province of Manitoba. This announcement comes on the back of recent approvals allowing Biome to distribute cannabis products in Saskatchewan and New Brunswick.
With this announcement, Biome is licensed to distribute cannabis in five provinces: Newfoundland and Labrador, Nova Scotia, Saskatchewan, New Brunswick and now Manitoba. Select strains of dried flower and pre-rolls will be supplied to private retailers all across Manitoba from Highland Grow, Biome’s wholly-owned cultivation facility in Antigonish, Nova Scotia.
As was the case in New Brunswick and Saskatchewan, the genesis of this agreement stemmed from organic demand for Biome’s highly regarded products from cannabis connoisseurs and dispensary operators in Manitoba. This led management to actively pursue the approvals necessary to start shipping high quality product to the province’s 35 licensed retailers.
Biome’s CEO, Khurram Malik, commented: “We are happy that our high quality, premium flower and pre-rolls have which have proven very popular with discerning consumers in Atlantic Canada and Saskatchewan will now be available to the 1.4 million people of ‘Friendly Manitoba’.”
Biome has more than doubled its distribution footprint domestically in the past two months and looks forward to more expansion in the future, continuing to build out the commercial footprint begun in January of this year.
Biome wholly owns five subsidiaries, including: 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 Cannabis Act; 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 Cannabis Act; Highland Grow Inc., a licensed producer in Nova Scotia under Canada’s 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.
This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward‐looking statements or information. Generally, forward-looking statements and information may be identified by the use of forward-looking terminology such as “plans”, ” expects” or “does not expect”, “proposed”, “is expected”, “budgets”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. More particularly and without limitation, this news release contains forward‐looking statements and information concerning Biome’s retail sales in Saskatchewan, the corresponding supply and demand for cannabis products in the province and Biome’s business plans. Such forward-looking statements and information reflect management’s current beliefs and are based on assumptions made by and information currently available to Biome, including, among other things, assumptions and expectations with respect to satisfying the terms of the conditional approval to commence retail sales in Saskatchewan and customer and retailer demand.
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 approval in Saskatchewan; 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 general economic downturn.
Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. The forward-looking statements speak only as of the date on which they are made, and Biome, 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.