Data Projects Worldwide Growth in Legal Cannabis Markets

NEW YORK, October 9, 2018 /PRNewswire/ --

According to research by Grand View Research, the global legal cannabis market is estimated to reach USD 146.4 Billion by end of 2025. The increasing acceptance of cannabis products for various medical applications such as cancer, mental disorders, chronic pain and others, is projected to help increase revenue growth in the coming years. The research explains that the legal cannabis market is gaining traction worldwide due to high demand among consumers for both recreational and medical products. As a result, public and private investments for research and development of safer forms of ingesting cannabis such as tinctures, oils, vapes and other edibles are expected to positively impact market development. Biome Grow Inc. (CSE: BIO), Emerald Health Therapeutics, Inc. (OTC: EMHTF), MedMen Enterprises Inc. (OTC: MMNFF), The Supreme Cannabis Company (OTC: SPRWF), Lexaria Bioscience Corp. (OTC: LXRP)

Tracking consumer spending trends reveals the state of the cannabis industry by region. Tom Adams, Editor-in-Chief at Arcview Market Research and Principal Analyst at BDS Analytics explained that, "California gets the media attention and Canada gets the investment dollars as they allow adult use, but Germany's move to make cannabis flower available for medical use in pharmacies was really the big news of 2017 from a worldwide perspective. The tables have turned in favor of legalization across the world and we predict that the trend will spread as research continues to support cannabis' effectiveness as a medication." Germany has positioned itself as the leader of the European market, while Italy is expected to be the second-ranked cannabis market on the continent with USD 1.2 Billion in sales by 2027.

Biome Grow Inc. (CSE: BIO) listed on the Canadian Securities Exchange under the ticker (CSE: BIO). Just announced breaking cannabis news this morning that, "is pleased to announce that it will begin trading on the Canadian Securities Exchange ("CSE") at market open today under the trading 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 is a rapidly growing cannabis company that, under the focused stewardship of experienced and respected leaders in the cannabis space, has acquired four subsidiaries and has approximately 390,000 sq. ft. of production capacity in operation or under development, including:

• Highland Grow, its 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. Highland Grow sits on 19 acres of farmland near Antigonish, NS and the production facility is in the process of being expanded to 100,000 sq. ft.

• Back Home, its Newfoundland and Labrador-based company, is a late-stage ACMPR applicant. Its facility will be expanded to 168,000 sq. ft. of production capacity in four phases.

• P-209, its facility in Norwich, ON, is also a late stage ACMPR applicant that, pending the requisite federal inspections and approvals, is expected to be in a position to receive licensing shortly after work is completed to bring the facility to 87,000 sq. ft. of production capacity.

• Weed VR, a proprietary multi-platform virtual retail catalog system that will create a comprehensive strain library, is a recent acquisition that will allow Biome to offer an informative and engaging buying experience to consumers without them ever having to enter a traditional dispensary setting.  

Biome is also focused on establishing strong regional ecosystems and building relationships that strengthen local communities, including the three-year partnership it has with St. Xavier University to conduct a range of cannabis focused research initiatives.

"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," added 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, and today's listing on the CSE positions us to realize even greater success."

About Biome - Biome has four wholly-owned subsidiaries including: Highland Grow Inc., a licensed producer in Nova Scotia under Canada's ACMPR; 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 ACMPR; P-209 Inc., a company incorporated under the laws of the Province of Ontario and in the late stages of applying for a license under the ACMPR 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. https://www.biomegrow.com/ "

Emerald Health Therapeutics, Inc. (OTCQX: EMHTF) is a Licensed Producer under Canada's Access to Cannabis for Medical Purposes Regulations and produces and sells dried cannabis and cannabis oil for medical purposes. Emerald Health Therapeutics, Inc. recently announced that it has agreed to purchase from Emerald Health Hemp Inc. CBD-containing hemp biomass for extraction into CBD oil. EHH has established agreements to purchase approximately 500 acres of harvested hemp chaff, plant material consisting mainly of flower and leaf, in Manitoba and Prince Edward Island in 2018, with a plan to expand field operations in 2019. Emerald has signed an agreement with EHH to purchase approximately 500 acres of chaff in 2018 and approximately 1,000 acres in 2019 to 2022, with an option to renew for an additional two-year period. The hemp chaff will be processed via Emerald's exclusive alliance with Factors R&D Technologies Ltd., a division of Factors Group of Nutritional Companies Inc., which has extensive extraction experience and large capacity. "We see non-smoked, non-psychoactive CBD consumption as a major growth opportunity in both the medical and adult-use market in Canada, and our Factors Group alliance uniquely positions us with the largest biomass extraction and softgel encapsulation facility in Canada to produce value-added products to serve this market," said Chris Wagner, Chief Executive Officer of Emerald. "Our intent is to secure significant low-cost cannabinoid supply to serve all our manufacturing and marketing goals and hemp is expected to be our lowest cost source of CBD. We are very pleased with the rapid advancement of our Pure Sunfarms production joint venture with Village Farms and our St. Eustache facility in Quebec. Our collaboration with Emerald Health Hemp now expands our ability to produce CBD products."

MedMen Enterprises Inc. (OTCQB: MMNFF) is a leading cannabis company in the U.S. with assets and operations across the country. MedMen Enterprises Inc. recently launched a comprehensive suite of new cannabis products under the brand [statemade] during the opening of its second store in Las Vegas, MedMen Paradise. The [statemade] product line includes tincture drops, vaporizer pens, flower and pre-rolls. The products are named after the effect each is designed to create. The max line is for activities for example while zzz supports rest. There is also joy, zen, ebb, one and cbd. The [statemade] products in Nevada are made at MedMen's state-of-the-art cultivation and manufacturing facility near Reno. The oil for the vaporizer pens for example is extracted using CO2 gas and no solvents. The pens have a sleek look and are square shaped to prevent roll away. The attention to detail and distinct aesthetics are trademarks of the MedMen brand. "We've built one of the most popular and trusted retail brands in cannabis today," said MedMen Co-Founder and President Andrew Modlin. "And if there is one thing we've learned from serving hundreds of thousands of customers at our stores is that the modern cannabis consumer wants high-quality products in a variety of forms. They want to enhance their well-being and enjoy new experiences with the assurance that what they are putting in their bodies has been fully tested and safe. [statemade] offers one of the most comprehensive suites of products available in the market today using MedMen's class leading cultivation and manufacturing expertise."

The Supreme Cannabis Company (OTCQX: SPRWF) is a Canadian publicly traded company committed to providing premium brands and products that proudly reflect its consumers, people and uniquely innovative culture. The Supreme Cannabis Company, Inc. recently announced that the Company's wholly-owned subsidiary, 7ACRES, has entered into a supply agreement to provide dried cannabis to Tilray Canada Ltd., a subsidiary of Tilray Inc.®, a global leader in cannabis research, cultivation, processing and distribution currently serving tens of thousands of patients in 12 countries spanning 5 continents. "We are excited to be entering into this agreement with Tilray, an organization - like Supreme Cannabis - that focuses on the end user and demands leading quality assurance standards," said John Fowler, President of The Supreme Cannabis Company. "Tilray has built an industry-leading global medical distribution platform, which has resulted in robust demand for high quality cannabis products. We are happy to provide 7ACRES premium products alongside Tilray's well-regarded and existing lineup to support medical patients around the world."

Lexaria Bioscience Corp. (OTCQX: LXRP) has developed and out-licenses its disruptive delivery technology that promotes healthier ingestion methods, lower overall dosing and higher effectiveness of lipophilic active molecules. Lexaria Bioscience Corp. recently reported significant bioavailability results from its randomized, placebo-controlled, double-blind European human clinical study that evaluated TurboCBDTM - a proprietary, DehydraTECH™ powered, cannabidiol ("CBD") fortified hemp oil capsule developed by Lexaria. The degree and speed of CBD absorption into blood plasma and potential cardiovascular and cognitive performance enhancement in 12 healthy male volunteers were studied. These results corroborate and confirm earlier in vitro and in vivo studies that have evaluated Lexaria's DehydraTECHTM technology and have consistently measured higher levels of drug delivery much more quickly than positive controls with matching CBD concentrations. Although this study evaluated absorption only of CBD and its metabolites, Lexaria believes nearly identical bioavailability enhancement results would be achieved if the cannabinoid studied was THC instead of CBD.

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