CFN Media Group (“CFN Media”), the leading agency and financial media network dedicated to the North American cannabis industry, announces publication of an article discussing Biome Grow Inc. (CSE:BIO) (BIOIF) (6OTA.F) and its recently announced news. The company’s Nova Scotia-based subsidiary, Highland Grow Inc., secured and delivered upon its first purchase order with the Nova Scotia Liquor Corporation (“NSLC”). Less than a week later, the company announced that it had received a second purchase order as demand remains robust. Investors may want to take a closer look at the stock as it enters a commercial stage.
Canada’s cannabis industry is projected to reach C$22.6 billion over the coming years, according to Deloitte, driven by the legalization of recreational cannabis last year. After the landmark legislation, many licensed producers were caught off-guard by the high level of demand that quickly soaked up the available supply. These dynamics have created an opportunity for companies that already have cultivation and sales licenses.
Nova Scotia’s Market
Nova Scotia has experienced a cannabis supply shortage since legalization was enacted last year. With no local licensed producers with sales permits—prior to Biome Grow’s recent sales license—the government-run cannabis retailer was forced to order 3.75 million grams from 14 external licensed producers in Ontario, New Brunswick, and Alberta to meet demand. But these orders haven’t been sufficient to meet strong local demand.
The Nova Scotia Liquor Corporation, which handles the province’s retail sales, indicated that it would transition to local suppliers as soon as they came online. The rationale is that these local suppliers would prioritize their home province and be better positioned to offer products that appeal to Nova Scotians more than external licensed producers that lack in-depth knowledge of the local market and its taste preferences.
Biome Grow’s Highland Grow subsidiary secured a sales license in late-December, making it the second native Nova Scotia licensed producer that could sell to the market (rather than just cultivate in the province). By focusing on the unique requirements of the local market, Highland Grow is well positioned to capitalize on the growing local demand and generate significant revenue for investors over the long-term.
Biome Grow recently announced that its Nova Scotia-based subsidiary, Highland Grow Inc., secured its first two purchase orders from the Nova Scotia Liquor Corporation (“NSLC”) with genetic variations that are well-suited to the tastes of the local market. Management indicated that the first shipment was received and sold quickly since they were highlighted as being locally-sourced through premium in-store positioning and other initiatives.
“As a team of proud Nova Scotians, we are excited to see the first shipment being delivered from our locally-established facility to the Nova Scotia consumer,” said Highland Grow President Frank MacMaster. “Biome and Highland Grow are preparing to meet the unprecedented increase in demand and do our part to eliminate the current supply shortage in our home province, and throughout Canada’s legalized cannabis market.”
Biome Grow Inc. (CSE:BIO) (BIOIF) (6OTA.F) represents a compelling opportunity within Canada’s cannabis industry. In addition to Highland Grow’s focus on Nova Scotia, the company has four other subsidiaries, including a late-stage applicant in Newfoundland, a late-stage applicant in Ontario, a company located in Prince Edward Island, and a developer of virtual reality solutions for the cannabis industry in Ontario.
For more information, visit the company’s website at https://www.biomegrow.com/.
Please follow the link to read the full article:
About CFN Media
CFN Media (CannabisFN) is the leading agency and financial media network dedicated to the global cannabis industry, helps companies operating in the space attract investors, capital, and publicity. Since 2013, private and public cannabis companies in the US and Canada have relied on CFN Media to grow and succeed.
Learn how to become a CFN Media client company, brand or entrepreneur: http://www.cannabisfn.com/featuredcompany
Download the CFN Media iOS mobile app to access the world of cannabis from the palm of your hand: https://itunes.apple.com/us/app/cannabisfn/id988009247?ls=1&mt=8
Or visit our homepage and enter your mobile number under the Apple App Store logo to receive a download link text on your iPhone: http://www.cannabisfn.com
CannabisFN.com is not an independent financial investment advisor or broker-dealer. You should always consult with your own independent legal, tax, and/or investment professionals before making any investment decisions. The information provided on http://www.cannabisfn.com (the ‘Site’) is either original financial news or paid advertisements drafted by our in-house team or provided by an affiliate. CannabisFN.com, a financial news media and marketing firm enters into media buys or service agreements with the companies that are the subject of the articles posted on the Site or other editorials for advertising such companies. We are not an independent news media provider. We make no warranty or representation about the information including its completeness, accuracy, truthfulness or reliability and we disclaim, expressly and implicitly, all warranties of any kind, including whether the Information is complete, accurate, truthful, or reliable. As such, your use of the information is at your own risk. Nor do we undertake any obligation to update the items posted. CannabisFN.com received compensation for producing and presenting high quality and sophisticated content on CannabisFN.com along with financial and corporate news.
The above article is sponsored content. Emerging Growth LLC, which owns CannabisFN.com and CFN Media, has been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: http://www.cannabisfn.com/legal-disclaimer/
MJShareholders.com is the largest dedicated financial network and leading corporate communications firm serving the legal cannabis industry. Our network aims to connect public marijuana companies with these focused cannabis audiences across the US and Canada that are critical for growth: Short and long term cannabis investors Active funding sources Mainstream media Business leaders Cannabis consumers