BIOME GROW IS INVESTING IN ATLANTIC CANADIAN CANNABIS SECTOR
Biome Grow Inc. is focusing on the Atlantic Canada region and investing in building strong Atlantic Canadian roots ahead of industry legalization on Oct. 17, 2018. With approximately 390,000 square feet of production capacity in operation or under development primarily across Atlantic Canada, Biome is preparing to meet the high demand that is expected to exist in the region.
“Stats Canada released the results of its National Cannabis Survey for the third quarter of 2018, which focuses on cannabis consumption in Canada, with much of it reinforcing the reasons Biome has focused on Atlantic Canada,” said chief executive officer Khurram Malik. “We spotted the lack of competition and high per-capita consumption early on and set out to acquire subsidiaries and establish partnerships across the region.”
Statistics Canada released the results of its National Cannabis Survey (third quarter of 2018) on Oct. 11, 2018, offering the latest insights into cannabis consumption across the country. From the data obtained by the survey, Biome has identified that:
- Nova Scotians consume 51 per cent more cannabis per capita than the national average.
- Nova Scotians have the highest cannabis consumption rate in Canada, with 23 per cent of Nova Scotians reported consuming in the third quarter of 2018. British Columbia is the next highest with 20 per cent of British Columbians reporting consuming cannabis in the third quarter of 2018.
- Atlantic Canada has one of the highest cannabis consumption rates of all regions in Canada, with 19.4 per cent of Atlantic Canadians reporting that they consumed cannabis in the last three months. This is 4.2 per cent higher than the national average of 15.2 per cent and only British Columbia reports higher cannabis consumption.
“These statistics are important for Biome’s business model, especially when you factor in that Atlantic Canada represents 7 per cent of population and only 5 per cent of the number of granted licences. And, when factoring in licensed capacity, the percentage is even less,” added Mr. Malik. “Our investments in the region are driven by good business sense and are allowing us to build a strong Atlantic Canadian ecosystem, including creating full-time employment, boosting economic growth and establishing partnerships with organizations interested in enhancing their communities.”
About Biome Grow Inc.
Biome owns four wholly owned subsidiaries: Highland Grow Inc., a licensed producer in Nova Scotia under Canada’s Access to Cannabis for Medical Purposes Regulations (ACMPR); The Back Home Medical Cannabis Corp., a company incorporated under the laws of the Province of Newfoundland and Labrador and in the late stages of applying for a licence 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 licence 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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