An emerging leader in Canada’s youngest market (Video)
Biome Grow Inc. (CSE: BIO) is built to become the next Canadian cannabis conglomerate. Diversified in its holdings, Biome is steered by leaders in the cannabis space — in finance, growing technologies, regulatory affairs, business building and marketing. This team has learned from the mistakes and successes of the cannabis companies that have come before them and is using those lessons to quickly become one of Canada’s leaders in medical and recreational cannabis businesses. The company is built for growth and built to last in an exciting but volatile space that will see much shakeup in the coming months and years.
Biome has also taken a different approach to the market than its competitors. It is focused on the local consumer — what they want in a product, and in a buying experience. It is focused on regional cannabis growing and business growth with an emphasis in Atlantic Canada. And it has expertise to attack the burgeoning global market from its Canadian base.
A company unlike any other in the Canadian cannabis marketplace, Biome has the approach, leadership, and financing to be a dominant player in the industry.
Natasha Frakes: Hi, I’m Natasha Frakes and you’re watching Market One Minute. Joining us is Khurram Malik, CEO of Biome Grow. Thank you so much for being here. Why should somebody invest in Biome if they’re looking to invest in the cannabis market?
Khurram Malik: Sure. The cannabis industry in general, whether you’re looking at the recreational market, whether you’re looking at the medical market, the Canadian market or the international market, it’s incredibly young. What that means is it’s highly inefficient and highly volatile by definition, so it’s a risky place to put your capital in as an investor. Now, you can invest in sort of the larger cannabis companies that are a little more stable, but they’ve already gone on their run, so if you’re looking for modest returns which meet the broader indices, those are great places to put your money.
If you’re looking to capture the next wave of runs where you have a dramatic increase in valuations, the big guys have sort of done their thing already. You’ve got to look at the next wave, and Biome, in our opinion, is the least risky of the next wave companies that haven’t gone on their run yet because we haven’t announced a few of these things yet.
Natasha Frakes: What’s the long-term potential for Biome Grow.
Khurram Malik: Certainly. We’re Canadian based. We’re Toronto headquartered, primarily Atlantic and Canadian focus, but we’re going to be an international medical cannabis platform, and why that’s important is that Canada only is about 36 million people in the country, a large land mass, small population. There’s a lot of suppliers already vying for those customers, but the entire world is coming online with medical programs right now where quite frankly margins are better than recreational.
What you’re going to see from us in the coming weeks and months is we’re going to be entering international markets that others haven’t sort of looked at yet. I would rather not be the twentieth company near Germany like that’s what the other Canadian comparables that are sort of vying for international opportunities right now. I’d like to be the first one in and that gives you certain privileges. For a company of our size to pull that off, including what we’re domestically, is highly, highly unusual. That’ll stand out from the crowd, and hopefully, we won’t be small much longer.
Natasha Frakes: What differentiates Biome from its competitors in the market?
Khurram Malik: Certainly. The core team in the founders are sort of a done it before team. We’ve helped build some of the largest cannabis companies in the world, so all we’re sort of doing is taking our best practices and learnings from what works and doesn’t work. Most of these things are not obvious. You’ve got to have either lived through them to figure out what works and doesn’t work as opposed to reading them in a textbook somewhere or asking somebody.
Those nuances can make a huge difference because it’s a very expensive industry to operate in. You can easily waste $10 million inadvertently if you don’t know what you’re doing. Biome is a platform that basically knows those nuances and has a record in terms of the people in the company. As a small company, we can stretch an investor dollar further than pretty much any small company that I’m aware of, and secondly be able to pull off very, very large contracts that only the largest cannabis companies have been able to do because the team has done this for larger companies in the past.
Natasha Frakes: Thanks for joining us.
Khurram Malik: No problem, it was my pleasure.