Biome Grow (BIOIF) Reports Financial Results for the years ended December 31, 2018 and 2017

TORONTO, April 30, 2019 (GLOBE NEWSWIRE) — Biome Grow Inc. (Biome” or the “Company) (CSE: BIO) (Frankfurt: 6OTA) (OTCQB: BIOIF) is pleased to announce that it has filed today its consolidated financial results for the years ended December 31, 2018 and 2017.  Biome is also pleased to announce the filing of its annual information form for the fiscal year ended December 31, 2018.  A copy of the full financial statements as well as management’s discussion and analysis and the annual information form have been posted on SEDAR under the electronic profile of the Company.

RELATED: Biome Expects Supply Agreement will Represent Close to $100 million in Revenue per Annum Starting in 2020.


The Company expects to release its first quarter, 2019 financial results in May which management believes will provide a more indicative analysis of the Company’s operations as it commenced commercial sales during this period. Further, Biome will host an analyst conference call in conjunction with the first quarter release at which time forward looking guidance for the second quarter and beyond will be provided. 

For further information, please contact:
Scott Cuthbertson
VP Investor Relations

About Biome

Biome wholly owns five subsidiaries, including: The Back Home Medical Cannabis Corporation, a company incorporated under the laws of the Province of Newfoundland and Labrador and in the late stages of applying for a license under the Cannabis Act; Great Lakes Cannabis, a company incorporated under the laws of the Province of Ontario and in the late stages of applying for a license under the Cannabis Act; Highland Grow Inc., a licensed producer in Nova Scotia under the Cannabis Act; Red Sands Craft Cannabis Co., a company incorporated under the laws of the Province of Prince Edward Island; and Weed Virtual Retail Inc., a company incorporated under the laws of the Province of Ontario in the business of operating a new virtual reality technology platform focused exclusively on the medical and recreational cannabis markets. Biome is a Canadian-based company with national and international business interests.

Forward-looking Statements

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information.  Generally, forward-looking statements and information may be identified by the use of forward-looking terminology such as “plans”, “ expects” or “does not expect”, “proposed”, “is expected”, “budgets”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. More particularly and without limitation, this news release contains forward-looking statements and information concerning the Company’s operations in the next reporting quarter. Such forward-looking statements and information reflect management’s current beliefs and are based on assumptions made by and information currently available to Biome, including, among other things, assumptions and expectations with respect to: Biome’s ability to generally operate its business, follows its business plans and realize future expectation and obtain all necessary regulatory licenses, permits and approvals to produce and sell cannabis.

These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied in the forward-looking statements, including, among other things: a failure to obtain or delays in obtaining the required regulatory licenses, permits, or approvals; changes to legislation; changes in cannabis research or the general public’s perception of cannabis; crop failure; labour disputes; increases in labour and/or construction costs; rising energy costs; an inability to access financing as needed and general economic downturn.

Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. The forward-looking statements speak only as of the date on which they are made, and Biome, or any of its subsidiaries undertakes no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.