Alliance (CSE: ACG) (FWB: 1LA) Provides Progress Report on Cannabis Botany Centre
Vancouver, British Columbia - January 31, 2018 (Newsfile Corp.) (Investorideas.com 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.
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.
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On behalf of the board of directors of
ALLIANCE GROWERS CORP.
President and CEO
For more information contact:
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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