The marijuana stock market has seen some crazy swings over the course of the past year or so. In that time, we have seen companies shoot up in value due to the innovation that they have attempted to put forward. Well, all the stories in the market are not of success, it seems as though there are a select few businesses that have made quite a killing taking on cannabis in a non-traditional way. All in all, cannabis and the world of marijuana stocks, remain some of the most prominent marketplaces that we have today.
Biome Grow Inc. (BIOIF/BIO.CN) is a company that operates as five separate subsidiaries throughout the Canadian marijuana landscape. By offering so many different things to the marketplace, it seems as though Biome Grow has managed to put themselves in quite a solid position for the future of the industry. The company has subsidiaries throughout the nation in places like Ontario, Newfoundland and Labrador, Prince Edward Island and Nova Scotia among others. The company has stated that they have focuses across the international marijuana industry as well, which they do through the production of cannabis as well as everything from tech to medicinal products.
Recently, Biome Grow announced that they have released their first quarter of 2019 fiscal results. The company showed that they were able to meet many important milestones throughout their various subsidiaries such as a harvest of the substance in Nova Scotia at their facility, and the beginning of several shipments to consumers. The company has also announced that they have agreed to a memorandum of understanding that would allow them to purchase as much as 20,000 kilograms of hemp per year to produce CBD products.
Khurram Malik, CEO of the company stated that “We are pleased with the launch of our business and with the ramp up of our cultivation facility in Antigonish Nova Scotia. Initial demand for our products remains very strong and we look forward to expanding our operations both in Nova Scotia as well as in Ontario and Newfoundland this summer as previously announced. We are pursuing additional provinces and international markets for our products and hope to have announcements on progress in this area in the coming months.” All in all, Biome Grow remains one of the more interesting companies to keep an eye on in the coming future.
Canopy Growth Corp. (NYSE:CGC) is a company that has remained at the top of the market for quite some time now. The company currently stands as the largest cannabis company in the world, which has given them some big headlines.
In recent times, we have seen a dip in their performance, but it looks as though this could just be chalked up to some short term volatility as we have seen throughout the market since its inception. Canopy Growth Corporation continues to set the precedent for what a cannabis company at the top can look like as we fast approach the distant months in the marketplace.
Pursuant to an agreement between an affiliate of MAPH Enterprises, LLC (owners of MarijuanaStocks.com), Midam Ventures LLC and Biome Grow, Midam is being paid a total of $240,000 ($20,000 per month) for a period beginning on October 1, 2018, and ending on October 1, 2019. We own 0 shares of Biome Grow (BIO.CN). We may buy or sell additional shares of Biome Grow in the open market at any time, including before, during or after the Website and Information, to provide public dissemination of favorable Information about Biome Grow (BIO.CN).
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