TORONTO, Nov. 14, 2018 (GLOBE NEWSWIRE) -- Biome Grow Inc. (“Biome” or the “Company”) (CSE:BIO) (Frankfurt:6OTA) is pleased to announce its Nova Scotia-based subsidiary, Highland Grow Inc. (“Highland Grow”), has received its license to sell to other licensed producers from Health Canada in accordance with subsection 11(5) of the Cannabis Regulations.
"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," said Khurram Malik, CEO of Biome.
The Health Canada license, issued in accordance with the Cannabis Act and Cannabis Regulations, specifically grants Highland Grow the ability to: possess cannabis; obtain dried cannabis, fresh cannabis, cannabis plants or cannabis plant seeds by cultivating, propagating, and harvesting cannabis; and, to sell cannabis in accordance with subsection 11(5) of the Cannabis Regulations.
With this license, Highland Grow is positioned to sell and distribute dried cannabis, fresh cannabis, cannabis plants, cannabis plant seeds to businesses and individuals that are holders of the following licenses, among others:
- Standard Cultivation
- Micro Cultivation
- Analytical testing
“The Highland Grow team, who are locally sourced and educated, has been working hard toward meeting the Health Canada requirements. We are all excited to see our diligence and commitment to quality pay off. It is a great day here in Antigonish, Nova Scotia,” added Frank MacMaster, President of Highland Grow.
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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 ACMPR; 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 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: 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: satisfying the condition to the license which involves a requirement related to the mandatory cannabis testing for pesticide active ingredients; Cannabis Act and Cannabis 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.