Highlights of the cannabis production agreement:

• It is for 24,000 kg production and supply over three years.

• It will represent close to $100 million in revenue per annum beginning in 2020.

• The agreement allows Biome to recover up to $52M through reduced remittances to the Newfoundland and Labrador Liquor Corporation.

• Biome will have access to five retail licenses in the province.

• Biome will also invest $500,000 over five years for research and development in Newfoundland and Labrador.

• Biome’s Newfoundland and Labrador company – Back Home is expected to produce Newfoundland and Labrador-grown cannabis in 2019.

• The company plans to operate its production facility in the province for a minimum of 20 years.

• The agreement will provide for 200 jobs, 120 of them in production and 80 in retail in the province. Local hires whenever possible.

• Biome Grow will receive access to five retail licenses

• The new production facility will be built in Barachois Brook in phases. Biome Grow is committed to produce local cannabis by the second half of 2019 and operate its production facility for a minimum of 20 years.

• Retrofit by Bird Construction of an existing 18,000 square-foot building in Phase 1 and three 50,000 square foot sections of a new building in Phase 2, 3 and 4 for another 150,000 square foot facility.

• There is approximately $6.5 million in annual salaries related to the project.

• At peak of construction there will be 70 to 80 people working on-site.