Biome Grow Inc. (OTC: ORTFD) (CSE: BIO) (“Biome” or the “Company”) is focusing on the Atlantic Canada region and investing in building strong Atlantic Canadian roots ahead of industry legalization on October 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 CEO 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 2018* on October 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% more cannabis per capita than the national average.
- Nova Scotians have the highest cannabis consumption rate in Canada, with 23% of Nova Scotians reported consuming in the third quarter of 2018. British Columbia is the next highest with 20% 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% of Atlantic Canadians reporting that they consumed cannabis in the last three months. This is 4.2% higher than the national average of 15.2% 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% of population and only 5% of the number of granted licenses. And, when factoring in licensed capacity, the percentage is even less,” added 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.”
*The Statistics Canada National Cannabis Survey, third quarter 2018 was released on October 11, 2018 and is available at https://www150.statcan.gc.ca/n1/daily-quotidien/181011/dq181011b-eng.htm.