TORONTO, Oct. 09, 2018 (GLOBE NEWSWIRE) — (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.
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.
Biome has four wholly-owned subsidiaries including: 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; P-209 Inc., a company incorporated under the laws of the Province of Ontario and in the late stages of applying for a license under the ACMPR 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.
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