TORONTO, July 11, 2018 (GLOBE NEWSWIRE) — Biome Grow (“Biome”) announced today that Steven Poirier, former President of Moosehead Breweries Ltd. and a Senior Executive in Canada’s alcohol beverage industry, has been appointed as a Director to the Board of Directors of Biome effective immediately.
As President of Moosehead Breweries, Mr. Poirier oversaw the company’s three operating divisions. Moosehead Breweries is the third largest brewery in Canada and holds the largest share of the beer market in New Brunswick. More recently, Mr. Poirier was Senior Vice President of Sales with Arterra Wines Canada (formerly Constellation Brands), the world leader in premium wine that also dominates the Canadian wine segment. Prior to Constellation, Mr. Poirier served as Vice President-General Manager with Treasury Wine Estates, the third largest wine company in the world and the second largest imported wine company in Canada.
“Biome is excited to have Steven join our Board of Directors. His relationships across Atlantic Canada and his pan-Canadian alcohol beverage marketing and distributing expertise is second to none,” said Khurram Malik, President and CEO of Biome Grow. “And, as we have seen from Constellation’s strategic investment in the sector, Steven’s industry relationships and expertise position Biome well to capitalize on the potential investments we expect to see from other large alcohol beverage players.”
In addition to leading sales, distribution and market growth across the alcohol beverage sector, Mr. Poirier has also led marketing and new product development in the retail, food service, paper and financial sectors. He has worked with well-known brands, including McCain Foods, F.B.M. Distillery (Bacardi Rum) and Royal Trust, where he has successfully launched new products, boosted corporate profitability and earnings, and grown market share and sales volumes.
“I am honoured to join Biome’s Board of Directors and share my perspectives from the alcohol beverage industry in support of Biome’s continued growth across Atlantic Canada and the country,” said Steven Poirier. “Biome is becoming a leader in the Canadian cannabis space and I am looking forward to bringing my experiences and insights to the table.”
Mr. Poirier holds his Master of Business Administration (Finance and Marketing) from York University and his Bachelor of Commerce from Concordia University.
About Biome Grow
Biome (whose corporate legal entity name is Cultivator Catalyst Corp.) wholly owns Highland Grow Inc., a licensed producer in Nova Scotia under Canada’s Access to Cannabis for Medical Purposes Regulations (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, 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, 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 plans on operating a diversified mix of low cost licensed cannabis production facilities across Canada and other jurisdictions in the coming years. Additional growth will be achieved through a mixture of acquisitions and organic growth. Moreover, Biome will integrate a complimentary platform of technologies and services targeted at both the Canadian and international cannabis markets.
Biome entered into an amalgamation agreement dated April 25, 2018 (the “Amalgamation Agreement”) with Orca Touchscreen Technologies Ltd. (“Orca”) (CSE:OAA), pursuant to which 1151856 B.C. Ltd., a wholly-owned subsidiary of Orca, will acquire all of the issued and outstanding securities of Biome by way of a three-cornered amalgamation transaction (the “Transaction”). A copy of the Amalgamation Agreement and a press release announcing the Transaction can be found on SEDAR under Orca’s profile.
Certain statements or projections contained in this news release are forward-looking statements, including Biome’s expectation with respect to its plans to operate a diversified mix of low cost licensed cannabis production facilities across Canada and other jurisdictions, its plans for growth and targeted acquisitions and its plans to integrate a complimentary platform of technologies and services targeted at both the Canadian and international cannabis markets. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to Biome, including the assumption that Biome will be able to obtain all necessary regulatory licenses, permits and approvals to produce and sell cannabis and generally operate its business in both Canada and internationally, labour, construction, and other costs will remain low for its licensed cannabis production facilities, there will be no labour disputes, there will be no unexpected delays in construction and sufficient financial resources will be available.
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 a general economic downturn. These 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.