FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “Biome Grow Welcomes Former Ontario Minister of Health, George Smitherman as Senior Vice President of Corporate Affairs”
Biome Grow Inc. (OTCQB: BIOIF) (CSE: BIO) announced that Mr. George Smitherman has joined Biome Grow’s executive management as Senior Vice President of Corporate Affairs. In this role, George will be leveraging his experience and knowledge in the Canadian health care sector to accelerate Biome’s growth in new operating verticals. His portfolio of responsibilities will include clinical infrastructure in Canada and international markets, domestic retail operations, and international regulatory development work in jurisdictions that are looking to launch medical cannabis programs.
Biome wholly owns five subsidiaries, including The Back Home Medical Cannabis Corporation, Great Lakes Cannabis, Highland Grow Inc., Red Sands Craft Cannabis Co., and Weed Virtual Retail Inc.
The rapidly developing cannabis industry is quickly becoming a major global marketplace. Several countries across the world are adopting cannabis legislation, with particular interest being expressed in medical cannabis. Major players from the U.S. and Canada are thriving in the industry as they develop premium products such as oils, tinctures, creams, and strains for consumers. Globally, many countries have also locked in distribution agreements with companies operating in the U.S. or Canada. Countries such as Australia, Germany, and the United Kingdom have signed such agreements with distributors to receive medicinal cannabis imports. According to data compiled by a European investment bank, Bryan, Garnier & Co., the global legal cannabis market is projected to reach USD 140 Billion by 2027. With the market expected to continue to flourish as more countries move towards legalizing cannabis. Although many regions around the world have not fully legalized cannabis yet, a handful allow for personal consumption in minimal amounts. Primarily, the marketplace is expected to be dominated by the North American region, due in part to the U.S. and Canada’s large recreational market space.
With the recent boom in the industry, companies are actively seeking employees to fill rapidly developing job positions. Jobs such as dispensary managers and budtenders are popular, but there are also jobs like lab technicians, brand ambassadors, extractors, trimmers, and delivery drivers, according to News Times. For example, in December 2018, Glassdoor found 1,512 new cannabis job openings using its database, a 76% increase from the previous year. Slightly more than half of the job openings were for professional and technical workers, ranging from marketing positions, to plant scientists, to accountants. Cities such as San Francisco, California and Denver, Colorado account for the majority of these job openings. Moreover, California and Colorado are the biggest global market drivers, as they each drove in over a billion dollars in revenue in 2017. “Cannabis industry roles on Glassdoor are highly diverse, requiring an array of skills and backgrounds from marketing and retail to research and agriculture. The jobs available, however, broadly fit into three categories: service and retail, professional and technical, and labor and physical,” according to Glassdoor’s cannabis job report, “The cannabis industry in the U.S. faces myriad risks in the future with uncertainty over its legal status and uneven state-level regulations. However, by increasing hiring and investing in human capital, employers are signaling their confidence in the long-term staying power of the cannabis industry.”
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