Vancouver, BC --
January 31, 2018 -- InvestorsHub NewsWire -- Alliance
Growers Corp. (CSE: ACG) (FWB:
1LA) (WKN:
A2DFYX) ("Alliance Growers" or the
"Company") is pleased to provide a progress report
on the development of the Cannabis Botany Centre. In a news release
dated December 30, 2017, Alliance Growers announced that it has
entered into a binding Letter of Intent ("LOI") with WFS
Pharmagreen Inc. ("Pharmagreen"), and its proposed subsidiary BC
New Co, to create a strategic relationship, together with equity
participation by Alliance and Pharmagreen, whereby Alliance will
acquire a 30% equity interest in Pharmagreen's subsidiary BC New Co
(the "Proposed Transaction"). The execution of this LOI initiated
the development of the Cannabis Botany Centre that Alliance and
Pharmagreen have been working on for the past
year.
Pharmagreen principals have
purchased the land required to build the Cannabis Botany Centre
East of Mission, BC (the "Land"). The Land will be leased initially
to BC New Co. with an option to purchase at or near cost. BC New Co
will build and operate the Cannabis Botany Centre to permit the
growth and sale of tissue culture plantlets, and storage of strains
and nursery plants to wholesale, retail and medical
markets.
The development of the
Cannabis Botany Centre has been progressing quickly on several key
fronts and Alliance Growers is pleased to provide the following
updates:
- The Fraser Valley Regional
District, Electoral Area G, for Deroche has approved the land use
on Bell Road, site of the Cannabis Botany Centre for cannabis
production and cannabis related business.
- Company management has
commenced discussions with FORTIS BC to bring natural gas to the
location. This will benefit the surrounding
community
- The hydrological engineering
assessment report for the site to be completed this
week
- B.R.I.M. Inc. research for
the Cannabis Botany Center, on tissue culture protocols and plant
development of cannabis strains, has shown that plants derived from
tissue culture grow much faster and exhibit a significantly better
plant structure compared to traditional cloning of plants. These
plantlets will provide a significant advantage to cultivators
producing on a large commercial scale.
- The Cannabis Botany Centre
is poised to supply up to 300,000 plantlets per month to
cultivators once built and operating at full
capacity.
- There are numerous expansion
capabilities with 25 acres of available land.
Commenting on the
development progress of the Cannabis Botany Centre, Dennis Petke,
Alliance Growers' President and CEO, said "Now that Alliance is
capitalized, we will be working closely with Pharmagreen to
accelerate the development of the Cannabis Botany Centre. The path
to approval for an ACMPR license will be expeditious. The
development of the Cannabis Botany Centre is consistent with
Alliance Growers business plan to be in partnership with a range of
cannabis sector business opportunities including strategic
investments in ACMPR licensed cannabis producers. Alliance Growers
has already acquired interests in two ACMPR applicants, notably
Biocannatech, whereby Alliance recently acquired 100% ownership of
this late-stage Quebec ACMPR applicant; and Canwe, a private
company based in Ontario that has applied for its ACMPR license and
is currently in the review and security clearance stage. Alliance
continues to negotiate further acquisitions in the grow space in
Canada and Australia.
We look forward to
announcing new strategic and complementary acquisitions as we move
forward. It is an exciting time of progress in the cannabis
industry and Alliance is building a diversified global cannabis
company that is focused on where the market is going, not where the
market is today."
About
Alliance Growers
Alliance Growers Corp is a
diversified cannabis company driven by the Company's 'Four Pillars'
Organization Plan — Cannabis Botany Centre, Strategic ACMPR
Investments, CBD Oil Supply and Distribution, and Research and
Development.
Alliance Growers has
finalized its a new business partnership with WFS Pharmagreen Inc.,
to jointly develop and operate a 40,000-square foot facility to be
the first of its kind in Western Canada to house a DNA Botany lab,
extraction facility and Tissue Culture Plantlet Production facility
to service the Cannabis market and agriculture market in general.
The proposed Cannabis Botany Centre will grow Cannabis plantlets
using proprietary tissue culture propagation, specifically the
"Chibafreen Invitro Plant Production System", which assures
consistent composition and purity of each plantlet for the
growers.
Alliance Growers has entered
into an exclusive agreement to acquire a late stage licensed
producer applicant, Biocannatech, to become a licensed producer
under Health Canada's access to cannabis for medical purposes
regulations ("ACMPR") in Quebec. Alliance Growers will supply
financing and resources to build out the medical marijuana facility
in preparation for the inspection required to obtain a growing
license. Once Health Canada is satisfied with a successful crop,
Alliance Growers will be granted its distribution
license.
This acquisition allows the
Company an opportunity to become a licensed producer in the
Province of Quebec and gain an in-road to provide tissue culture
plantlets to all licensed producers in Quebec.
Further, Alliance Growers
has been negotiating to obtain other exclusive Canadian
distribution agreements for certain proprietary products for
support of the Cannabis growing industry in addition to possible
partnerships with Licensed Producer Applicants at various stages in
the Health Canada License process.
For further information,
please visit the Company's website at www.alliancegrowers.com or the Company's profile
at www.sedar.com.
If you would like to be
added to Alliance Growers' news distribution list, please send
your email address to newsletter@alliancegrowers.com
On behalf of the board of
directors of
ALLIANCE GROWERS
CORP.
"Dennis Petke"
Dennis Petke
President and CEO
For more information
contact:
Dennis Petke
Tel: 778-331-4266
DennisPetke@alliancegrowers.com
Rob Grace
Communications Consultant
Tel: 778-998-5431
RobGrace@alliancegrowers.com
THE CANADIAN SECURITIES
EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR
THE ACCURACY OR ADEQUACY OF THIS RELEASE.
FORWARD LOOKING
INFORMATION
This news release contains
forward-looking statements and forward-looking information within
the meaning of applicable securities laws. These statements relate
to future events or future performance. All statements other than
statements of historical fact may be forward-looking statements or
information. More particularly and without limitation, the news
release contains forward-looking statements and information
relating to Company's corporate strategy. The forward-looking
statements and information are based on certain key expectations
and assumptions made by management of the Company, including,
without limitation, the Company's ability to carry out its business
plan. Although management of the Company believes that the
expectations and assumptions on which such forward-looking
statements and information are based are reasonable, undue reliance
should not be placed on the forward-looking statements and
information since no assurance can be given that they will prove to
be correct.
Forward-looking statements
and information are provided for the purpose of providing
information about the current expectations and plans of management
of the Company relating to the future. Readers are cautioned that
reliance on such statements and information may not be appropriate
for other purposes, such as making investment decisions. Since
forward-looking statements and information address future events
and conditions, by their very nature they involve risks and
uncertainties. Actual results could differ materially from those
currently anticipated due to a number of factors and risks. These
include, but are not limited to, the Company's ability to identify
and complete additional suitable acquisitions to further the
Company's growth as well as risks associated with the medical
marijuana industry in general, such as operational risks in
development and production delays or changes in plans with respect
to development projects or capital expenditures; the uncertainty of
the capital markets; the uncertainty of receiving the required
licenses, production, costs and expenses; health, safety and
environmental risks; marketing and transportation; loss of markets;
environmental risks; competition; incorrect assessment of the value
of the potential market; ability to access sufficient capital from
internal and external sources; failure to obtain required
regulatory and other approvals and changes in legislation,
including but not limited to tax laws and regulated regulations.
Accordingly, readers should not place undue reliance on the
forward-looking statements, timelines and information contained in
this news release. Readers are cautioned that the foregoing list of
factors is not exhaustive.
The forward-looking
statements and information contained in this news release are made
as of the date hereof and no undertaking is given to update
publicly or revise any forward-looking statements or information,
whether as a result of new information, future events or otherwise,
unless so required by applicable securities laws or the Canadian
Securities Exchange. The forward-looking statements or information
contained in this news release are expressly qualified by this
cautionary statement.
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