Alliance Growers Corp. (CSE: ACG): #Cannabis #Biotech Complex Project Recieves the Green Light from Regional Government Services Committee
Vancouver, British Columbia - September 10, 2018 (Newsfile Corp.) (Investorideas.com Newswire) Alliance Growers Corp. (CSE: ACG) (the "Company") is pleased to announce that its partner in the development of the Cannabis Biotech Complex, WFS Pharmagreen Inc. ("Pharmagreen") put forth the proposed development of the Cannabis Biotech Centre to the Fraser Valley Regional District Electoral Area Services Committee on September 5, and the proposed development was unanimously approved by this committee.
Pharmagreen submitted its proposal for the construction of the 62,000 square foot Cannabis Biotech Centre, a facility designed for the production of cannabis tissue cultured starter plantlets. The Biotech Centre is the primary component of the Biotech Complex, being developed on a 26-acre parcel of land in Deroche, B.C., Canada. The proposal now goes to the Fraser Valley Regional District Planning Board later this month for ratification of the Services Committee recommendation to allow the project to move forward to the permitting stage.
Alliance Growers is also pleased to report that the application to Health Canada pertaining to the Cannabis Biotech Centre that was submitted in June of 2018 for its Access to Cannabis for Medical Purposes Regulations (ACMPR) license is currently at the review stage. Pharmagreen and Alliance continue to work together in identifying capital and other resources to advance the Biotech Complex, while simultaneously developing a future customer base.
Commenting on Alliance Growers' progress, Dennis Petke, President and CEO, stated, "We are very pleased to see the continuous advancements toward the building and ultimate completion of the Cannabis Biotech Complex, such as the latest development, being the 'green light' given to initiate the permit application process to begin construction. We are also pleased with the strong demand for our recently announced private placement which will be closing in multiple tranches over the next two weeks. The proceeds are being used primarily to advance our interest in the Cannabis Biotech Complex and to begin the build out of the Biocannatech facility in Montreal, thus advancing the ACMPR application. This funding round is pivotal to the Company's move to the next level, confirming to investors that Alliance is executing on the development of its primary projects, in a timely manner. Additional financings will be completed in October, November and December of 2018, allowing Alliance to execute on its business plan, balancing the requirement for capital with the appropriate level of dilution."
About Alliance Growers Corp.
Alliance Growers is a Diversified Global Medical Cannabis Company driven by the Company's 'Four Pillars' Organization Plan — Cannabis Biotech Complex, Strategic ACMPR Investments, CBD Oil Supply and Distribution, and Research and Technology.
Alliance Growers is working with Pharmagreen Biotech Inc. advancing a new business partnership, to jointly develop and operate a 62,000-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 Biotech Complex's main facility is the Cannabis Biotech Centre which will grow Cannabis plantlets using proprietary tissue culture propagation, specifically utilizing the "Chibafreen Invitro Plant Production System", which allows for more tissue cultured plantlets to be produced in less space and less time.
About Pharmagreen Biotech, Inc. and WFS Pharmagreen Inc.
WFS Pharmagreen Inc. is a wholly owned Canadian based subsidiary of Pharmagreen Biotech, Inc., a publicly traded company. WFS Pharmagreen Inc. is a cannabis company that is becoming the largest producer of cannabis plantlets through a proprietary tissue culture process with opportunity to become one of the largest players globally. Pharmagreen's mission is to advance the technology of tissue culture science and to provide the highest quality 100% germ free, disease free and all genetically the same plantlets of cannabis and other flora while offering full spectrum DNA testing for plant identification, live genetics preservation using low temperature storage for various cannabis and horticulture plants; extraction of botanical oils mainly CBD oil, and to deliver laboratory based services to the North American Cannabis and agriculture sectors. For further information on the company progress on the construction of a 62,000 square foot "Cannabis Biotech Complex" please visit www.pharmagreen.ca.
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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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.
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