Alliance Growers Corp. (CSE:ACG) (FSE:1LA) (WKN:A2DFYX) (“Alliance Growers” or the “Company”) applauds the landmark decision for advancing the bill to legalize recreational marijuana passing a key legislative stage in the Senate. Senators have voted to pass the Liberal government’s marijuana legalization legislation, Bill C-45, at second reading. Prime Minister of Canada Justin Trudeau stated his support for the bill, saying “the current system does not work” because Canadian youth are the highest users of marijuana in the world even though recreational use is banned by law.
Commenting on the landmark decision toward the passing of the bill for the legalization of recreational marijuana, Alliance Growers President and CEO, Dennis Petke stated, “We are thrilled with the positive vote passed by the senate toward the bill to legalize recreational marijuana. Alliance Growers is well positioned to take full advantage of the coming legislation. This significant milestone, puts Alliance Growers and Pharmagreen and our Cannabis Botany Center at the forefront of the Cannabis Industry. The advantages of legalization are that it opens a retail market in addition to a medical market, loosens regulatory restrictions for access, expands distribution and expands the industry into the billions of dollars. The cannabis industry will now evolve at a very quick pace. Today’s decision is another step forward for our Company as we continue to take Alliance Growers to where the cannabis market is going and not where it is today.”
The decision for advancing the bill to legalize recreational marijuana passing a key legislative stage in the Senate will have tremendous positive impact on many of Alliance Growers’ businesses:
Cannabis Botany Centre
These expanded market conditions provide increased demand for the product and services offered in the Cannabis Botany Center which translates into more sales, which translates into significant profits and therefore increased value for all shareholders of the Company. On a global scale it opens Canada to take the lead in the Cannabis Industry and for Canadian companies to set precedence as potential global suppliers of products, services and technologies.
The expansion of building state-of-the-art greenhouses will provide strong additional revenues for the joint venture between Alliance and Pharmagreen. The greenhouses will be focused on significant quantities of production of the tissue cultured, proprietary “CBD Dana” hemp strain to supply retail Canadian, Cannabis CBD markets as well as for worldwide export.
Investment in New Maple Holdings
With the Company’s strategic investment in Canwe, Alliance Growers has an entry into the lucrative Ontario cannabis market for both medical and recreational marijuana. Canwe has access to a 22-acre property approximately 1.5 hours away from Toronto that it plans to use as its state-of-the-art hydroponic growing facility. Canwe boasts a dedicated team of highly sought-after industry veterans, some of whom formerly worked at ACMPR-licensed MedReleaf Corp. The team also includes several University of Toronto alumni and quality assurance specialists from the food industry. Canwe plans to construct an initial 80,000 square foot purpose-built and cutting-edge cultivation centre, with the potential to expand the centre to 200,000 square feet over two floors. Like the Alliance Growers’ Cannabis Botany Centre, Canwe will have expanded market conditions for its products and services and enjoy the benefit of being in Canada’s most populous province, Ontario and near Canada’s largest city, Toronto.
Acquisition of the Quebec late-stage ACMPR applicant, Biocannatech
Quebec’s ACMPR licenses are currently under-represented relative to other provinces in Canada. Management of Alliance Growers believes it is advantageous to capitalize on the mandate to increase the number of ACMPR licensed companies in Quebec. We are pleased to have now entered the grow space in Quebec as we negotiate additional license applicants in this province. In addition to growing, we look forward to becoming a preferred tissue cultured plantlet supplier to the Quebec ACMPR community. The legislative move toward the legalization of recreational marijuana will massively enhance the value of a ACMPR, especially in the province of Quebec. With strong partners in Quebec, Canada’s second most populous province, Alliance Growers is well positioned to take advantageous of opportunities in both recreational and medical marijuana in the province.
About Alliance Growers
Alliance Growers 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.
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On behalf of the board of directors of
ALLIANCE GROWERS CORP.
President and CEO
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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.
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