Become A Featured Company

Biome Grow Secures Sales License for Nova Scotia Subsidiary

Ryan Allway

December 19th, 2018

Exclusive, Top News

Canada’s cannabis industry experienced a tremendous boost following adult-use legalization in October. In fact, vendors across the country exhausted their inventory much faster than expected as licensed producers struggled to meet their commitments. This has put pressure on Health Canada to address its backlog of applications to become licensed producers—which could open the door to new investment opportunities.

Biome Grow Inc. (CSE: BIO) (FFT: 6OTA) recently announced that its Nova Scotia-based subsidiary, Highland Grow Inc., received a license to sell to both consumers and other licensed producers. The move could generate new near-term revenue from commercial sales to licensed producers, open the door to synergies with its other licensed producer applicants, and enable it to generate long-term value through direct-to-consumer sales. The new amendment marks the complete transition of Biome Grow to a commercial cannabis enterprise in the Canadian market.

In this article, we will take a closer look at the Nova Scotia market and how the new license could benefit the company’s entire portfolio.

Nova Scotia’s Market

Nova Scotia is the second smallest of Canada’s ten provinces in terms of land mass, but it’s the second most densely populated province. While there are three licensed producers with cultivation licenses in the province, none of them had sales licenses when cannabis was legalized in October, so the Nova Scotia Liquor Corporation (NSLC) placed orders from 14 external licensed producers in Ontario, New Brunswick, and Alberta.

The initial cannabis order was for 3.75 million grams, or 8,267 pounds, of cannabis, including 282 different products representing 78 different strains. These strains and amounts were based on sales data from recreational and medicinal cannabis markets in Canada and the United States, product availability, and the suppliers’ ability to provide a continuous supply. The NSLC suggested it would transition to local suppliers when they were available.

Highland Grow’s new sales license enables it to supply the market as the only local supplier. By focusing on the unique requirements of local cannabis consumers, the company is well-positioned to capitalize on this demand. The company is now completing the final distribution steps with the NSLC to get products into the hands of local consumers as quickly as possible—and generate substantial revenue for investors.

“The Highland Grow team has been working hard to achieve this important milestone,” says Frank MacMaster, President of Highland Grow. “The company is looking forward to doing its part to eliminate the current supply shortage in our home province.”

Biome’s Growing Portfolio

 Highland Grow represents only a small portion of Biome Grow’s extensive portfolio of licensed producers, aspiring applicants, and ancillary businesses involved in the cannabis industry.

Biome Grow owns five subsidiaries, including:

  • The Back Home Medical Cannabis Corporation: A late-stage applicant located in the province of Newfoundland and Labrador.
  • Great Lakes Cannabis: A late-stage applicant located in Ontario.
  • Highland Grow Inc.: A licensed producer in Nova Scotia.
  • Red Sands Craft Cannabis: A company located in the province of Prince Edward Island.
  • Weed Virtual Retail Inc.: A developer of virtual reality solutions for the cannabis industry located in Ontario.

These companies provide Biome’s investors with significant geographical diversification, as well as some diversification in business activity. For instance, the company’s Weed Virtual Retail provides diversification into non-cultivation business activities. There are also many potential synergies between these companies, particularly as late-stage applicants receive approvals, as they could benefit from supply from other already-approved entities.

Highland Grow’s commercial sales license enables it to provide product immediately to these other licensed producer applicants as they are approved, which could accelerate the commercialization timetable and potentially improve profitability.

“This license gives the company additional commercial sales avenues and flexibility for our high quality cannabis products and services that are ready for our customers,” says CEO Khurram Malik.

Looking Ahead

Biome Grow Inc. (CSE: BIO) (FFT: 6OTA) represents a compelling investment opportunity in Canada’s burgeoning cannabis industry. After securing this latest license, the company continues to build out its portfolio of licensed producers across the country. Investors may want to take a closer look at the stock given the new sales license and the potential to expand into many other areas of the market.

For more information, visit the company’s website at www.biomegrow.com.

Disclaimer 

The above article is sponsored content. Emerging Growth LLC, which owns CannabisFN.com and CFN Media, has been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: https://cannabisfn.com/legal-disclaimer/

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

Network Partners

Follow Us on Social Media

LinkedIn

About CFN Media Group

CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.

Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.

Copyright © Accelerize Inc. · All Rights Reserved · Privacy Policy · Legal Disclaimer

loading