Alliance Growers Corp. (CSE:ACG) (FSE:1LA) (WKN:A2DFYX) (OTC:ALGWF) (“Alliance Growers” or the “Company”) is pleased to provide a progress report from a site visit to BioCannaTech, the Company’s Quebec access to cannabis for medical purposes regulations (“ACMPR”) application in Montreal, Quebec.
Alliance Growers is pleased to report that Company President and CEO Dennis Petke was in Montreal last week and over the weekend to meet with the architect, engineer and general contractor as well as other key representatives of BioCannaTech. The Company also met with BioCannaTech’s legal and financial reporting staff. The group toured the existing facility and a had a tour of the expansion opportunity. Discussions with the key representative of BioCannaTech included the expansion opportunity directly beside the existing facility where the two can be connected.
Key takeaways from the meetings and facilities tour are as follows:
Phase 1- 10,000 sq. ft existing facility
- Alliance Growers will provide financing and other resources to build out the wholly owned subsidiary, BioCannaTech’s medical marijuana facility in the town of Mount Royal, Quebec, in preparation for the inspection from Health Canada.
- There will be a retro fit of the existing building that was previously used for cold storage. This is ideal as insulated panels and critical HVAC components are already in place.
- There is no need to allocate space for a “mother” room as Alliance Growers will be providing plantlets to the facility.
- Construction permits are anticipated in approximately two weeks.
- Estimated completion by September, 2018.
- Estimated first cultivation targeted by November 30, 2018.
Phase 2- 17,000 expansion opportunity
- Alliance Growers is in negotiations for another 17,000 sq. feet (15,000 for growing, 2,000 for offices. These facilities are already in place and include a full loading dock.
- The buildings are adjacent to the existing facility and can easily be connected to add more space.
Phase 3- Additional ACMPR licenses in other Provinces
- After receiving the ACMPR in Quebec, we will be making an application for an ACMPR license in BC and potentially Alberta as well.
Alliance Investor Presentations
Alliance Growers is also pleased to report that it has been successfully meeting with brokers, high net worth individual and other members of the investment community during the Company’s visit to Montreal and has received very positive feedback and tremendous interest in the Alliance Growers’ opportunity. The Company will continue the tour with investor meetings in Toronto this week.
Dennis Petke, President and CEO of Alliance Growers commented: “We are pleased with the progress the Company has made to date. Alliance Growers drive for an ACMPR license in Quebec is accelerating. The Company has created a vertically integrated Company starting with the production of genetically perfect, disease free plantlets from the Cannabis Biotech Complex. This includes providing the plantlets required for the production of 99% pure CBD oil derived from the Dana Strain in a joint commercial hemp operation with Pharmagreen. Additionally, future ACMPR production through BioCannaTech, the Company’s wholly owned subsidiary in Quebec, and other ACMPR investments will provide flower at wholesale or cost for Cannabis CBD oil extraction. The addition of Spyder Vapes Inc., an established, upscale, ‘high-end stores without high-end prices’ retail chain for distribution of products produced from the Dana strain and from Cannabis CBD oil will give Alliance Growers and its group of companies a significant advantage in cost and margin compared to competitors.”
About Alliance Growers Corp.
Alliance Growers is a diversified 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 WFS Pharmagreen Inc. advancing a new business partnership, to jointly develop and operate a 58,000-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 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 recently announced that it will acquire established Ontario based retailer Spyder Vapes Inc. This is the first step in the development of a true vertically integrated Seed to Sale business for Alliance Growers.
About Spyder Vapes Inc.
Founded in 2014 by entrepreneur Dan Pelchovitz, Spyder Vapes is an established chain of three high-end vape stores in Ontario. The Spyder brand is defined by its high-quality proprietary line of e-juice, liquids and exclusive retail deals, dispensed in uniquely designed stores creating the optimal customer experience. Revenues for the initial two stores totalled $733,000 for the year ending January 31, 2018. The third store opened in December 2017.
Spyder Vapes is currently sourcing retail locations throughout Alberta and British Columbia where it seeks to establish a presence and apply for cannabis retail licences pursuant to recently announced provincial legislation. The additional retail locations will allow Spyder Vapes to leverage its retail and brand-building expertise, to offer customers quality cannabis products and, more specifically proprietary CBD products from Alliance Growers as legislation permits. Spyder Vapes’ existing revenues and potential growth in the vape business will strengthen its ability to pursue opportunities in the soon to be launched recreational cannabis marketplace.
Spyder Vapes’ retail and distribution focus is an ideal fit for Alliance Growers’ mission to build a diversified global cannabis company focused not on where the market is today, but where it is going. Spyder Vapes neatly fits into Alliance Growers’ emerging network of interests in licenced cannabis growers, cannabidiol (CBD) oil extractors, new agricultural technologies, and its own Cannabis Biotech Complex. Spyder Vapes, as the retail arm for Alliance Growers, will create a true Seed (plantlet farm) to Sale (retail stores) business for the Company and its customers.
For additional information, please visit Spyder Vapes’ website at www.spydervapes.com.
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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For more information contact:
CEO, President and Director
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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.
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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