Sales amendment granted for Highland Grow—Amendment to License Significantly Increases Product Availability for Medical and Adult Consumer-Use Markets
TORONTO, Dec. 17, 2018 (GLOBE NEWSWIRE) -- Biome Grow Inc. (“Biome” or the “Company”) (CSE:BIO) (6OTA.F) (ORTFF) is pleased to announce its Nova Scotia-based subsidiary, Highland Grow Inc. (“Highland Grow”), has received its sales authorization via an amendment to its existing license from Health Canada under the Cannabis Act. This authorization will allow Highland Grow to sell cannabis products to end consumers through appropriate medical and recreational cannabis channels, dramatically increasing product availability. The sales authorization will position Biome Grow to serve the rapidly growing domestic and international cannabis markets.
"Biome Grow has been steadfast in its focus on a regional business strategy and building provincial brands that can serve the unique requirements of its local cannabis consumers. This new amendment marks the complete transition of Biome to a commercial cannabis enterprise in the Canadian market," said Khurram Malik, CEO of Biome.
Finished product grown and packaged specifically for our customers in Nova Scotia is ready to be delivered. Highland Grow looks forward to completing the final distribution steps with the Nova Scotia Liquor Corporation (“NSLC”) to get this product into the hands of its local customers as soon as possible.
“The Highland Grow team, has been working hard to achieve this important milestone. The company is looking forward to doing its part to eliminate the current supply shortage in our home province,” added Frank MacMaster, President of Highland Grow.
About Highland Grow Inc.
Reflective of the beautiful and rugged northern Nova Scotia terrain, Highland is a local Cannabis grower near Antigonish that is Biome Grow's first licensed producer under Canada's Cannabis Act.
Highland Grow was granted its Grow License from Health Canada pursuant to the Access to Cannabis for Medical Purposes Regulations (ACMPR) on December 1, 2017.
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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 ACMPR; Highland Grow Inc., a licensed producer in Nova Scotia under Canada’s Cannabis Act; 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: Highland Grow’s sales license from Health Canada and finished product to be distributed in Nova Scotia. 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: the Cannabis Act and its regulations continuing to exist and operate as expected; the continued existence and validity of the license granted to Highland Grow; changes in cannabis research or the general public’s perception of cannabis; and the ability to operate the business as expected.
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. 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.