Biome Grow starts trading on Canadian Securities Exchange; aims to build Canadian cannabis conglomerate

Cannabis firm Biome Grow Corp () started trading on the Canadian Securities Exchange on Tuesday under the ticker symbol "BIO."

“Listing on the CSE represents a significant milestone in the growth and expansion of Biome as we continue to build a Canadian cannabis conglomerate,” said Khurram Malik, interim chief executive officer of Biome.

“We believe public listing will provide Biome increased visibility with prospective global investors, improved liquidity, and a more diversified shareholder base as we continue to grow through agreements, partnerships, and acquisitions across Canada and globally.”

Biome has acquired four subsidiaries and has approximately 390,000 sq. ft. of production capacity in operation or under development, including:

Highland Grow, a Nova Scotia-based company, which is already a Licensed Producer under Canada's Access to Cannabis for Medical Purposes Regulations (ACMPR) and is nearing in on sales licensing, pending federal inspections and approvals.

The Back Home Medical Cannabis Corp, in Newfoundland and Labrador, which is in the late stages of applying for a licence under the ACMPR.

There is also P-209 Inc., a company incorporated in Ontario and in the late stages of applying for a licence under the ACMPR.

Finally, subsidiary Weed Virtual Retail Inc, incorporated in Ontario, is in the business of operating a new virtual reality technology platform focused exclusively on the medical and recreational cannabis markets.

Biome is also conducting a range of cannabis-focused research initiatives, including a three-year partnership it has with St. Xavier University, in Nova Scotia. 

“Biome is unique through the diversity of our holdings and in that we are steered by some of the best leaders and experts in the cannabis industry, from finance, life science technologies, regulatory affairs, pharmaceuticals, business building and marketing,” said Malik.

“We are poised to be leaders in Canada’s cannabis industry with pending legalization while keeping our eyes squarely on the burgeoning global market." 

Shares of Biome were at C$1.90 on Wednesday.