Yesterday, weed stocks were generally green. The day before too. This brought about a load of folks on social media talking about how ‘cannabis is back!’ and ‘the bear market is over!’
Biome Grow (BIO.C) received approval to sell cannabis in New Brunswick and entered a production and supply agreement with Cannabis NB today.
Years ago, I worked on Vancouver’s skid row as a para-professional social worker. Thirty percent of my clients were indigenous peoples. I remember one stoic Haida man dying from AIDS who told me that four of his siblings had already died from alcoholism and misadventure.
Properly digesting a public company’s financial statement is a must before making any investment decision. For those of us on the outside, it’s as close as we’ll ever get to knowing how a company operates.
Biome Grow (BIO.C) has just released its Q1 financials and confirmed what we already knew about management: it’s preference of responsible growth at a defensible rate.
On March 08, 2019 Biome Grow (BIO.C) announced a Memorandum of Understanding (MOU) with the Mi’kmaw Native Friendship Centre in Halifax, Nova Scotia, to develop “job training, skills and employment opportunities for urban indigenous people in the region”.
The honeymoon for cannabis is over. Square feet and production capacity mean nothing unless you have someone to sell your product to and most LPs haven’t successfully made it to that stage yet.
Late last week, Nova Scotia’s Finance Minister Karen Casey confessed that only 6% of Nova Scotia cannabis sales were completed on-line (4% below government predictions of 10%).