- Business
- Biome Grow Inc. (CSE:BIO) operates as a Canadian cannabis company focused on cultivating, producing, distributing, and marketing medical and recreational cannabis products through its subsidiaries; core offerings include licensed production of dried cannabis flower, extracts, and related derivatives from facilities in Nova Scotia via Highland Grow Inc., medical cannabis in Newfoundland and Labrador via The Back Home Medical Cannabis Corporation, cultivation in Ontario via Great Lakes Cannabis Company Inc. and P-209 Inc., craft cannabis extraction in Prince Edward Island via Red Sands Craft Cannabis Co., and virtual reality retail technology via Weed Virtual Retail Inc. The company targets domestic markets in Atlantic Canada and Ontario with supply agreements to provincial liquor corporations such as the Nova Scotia Liquor Corporation and Newfoundland and Labrador Liquor Corporation, alongside plans for CBD-infused products and international exports; it maintains five retail licenses in Newfoundland and pursues B2B distribution channels. Founded in 2013 and headquartered in Toronto, Ontario, Biome Grow emphasizes vertically integrated operations across more than 200,000 square feet of production and research space, including partnerships with St. Francis Xavier University for genetics and cultivation R&D. Recent developments encompass the 2020 divestiture of Highland Grow Inc. to MYM Nutraceuticals Inc. for approximately $12.9 million in cash and shares, making Biome MYM's largest shareholder while retaining operational flexibility; compliance with a preservation order in an ongoing credit facility dispute with MYM; and sustained focus on regional ecosystems amid no material revenue generation in recent periods, with interim financial statements reflecting net losses and minimal assets against elevated liabilities as of late 2023.