BIOIF - Biome Grow is Setting Up Internationally
2024-03-27 17:08:02 ET
CEO of Biome Grow, Khurram Malik, speaks about the cannabis producer company's essential vertically integrated platform.
"Biome's a lower risk platform in a very risky and volatile industry. It's a young industry, we're just getting started. So by definition is highly inefficient.
Our mandate with this company was to build a more efficient platform taking the best practices. Efficiency can mean many things. So for us it's how do you spend an investor dollar in an efficient manner? So, you don't have to raise hundreds of millions of dollars to generate hundreds of billions of dollars of revenue.
What makes us a little bit different is we lock down off taking customer contracts. Then we build facilities to service those contracts. Other companies will build up the production facility and keep your fingers crossed that there's a customer for today, tomorrow and the day after that. You can do that but you it's a very volatile, unpredictable sector and there may not be that customer tomorrow depending on what it looks like.
We're really a small company currently that is doing big company deals. We built provincial brands which are very localized. Almost no company in Canada from a licensed producer size has retail locations. It gives us vertical integration which we think is a essential. Highland's a good example. When you buy our product in Nova Scotia you don't see Biome anywhere on the packaging. It's Highland Grow which resonates locally. It's run by locals and branded for locals and the products are engineered for the local community needs.
We're setting up shop in a variety of countries. The bulk of our sales are going to come from the International Medical markets, very large enterprises overseas but leveraging what we've done in Canada as the validation of how things should be done."
More on Biome Grow
Biome is a vertically integrated Canadian cannabis producer growing their presence through strong regional brands, local distribution networks, and internationally desired CBD products.
Biome Grow Inc. is designed as a Cannabis 2.0 company, structured to survive and prosper in a rapidly changing environment.
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