September 11, 2023 – Vancouver, BC – Alliance Growers Corp. (Formerly listed on CSE: ACG; FWB:1LA; OTCPK: ALGWF) (“Alliance Growers”, “ACG” or “the Company) ") provides progress on reorganization following the May 8, 2023, de-listing of the Company pursuant to the April 3, 2023 amendments to CSE Listing Policies. https://mcmillan.ca/insights/publications/significant-amendments-to-cse-policies-come-into-force-april-3-2023/
Statement from ACG CEO, Dennis Petke
Dear Shareholders,
Thank you to all for your continued support and patience with the developments of Alliance Growers. I wanted to provide a progress update on our reorganization plans to assure shareholders that management continues to review new projects and new partners in the Web3 space and once a project and team is finalized, have the Company listed again for trading as soon as possible.
Alliance Growers previously operated as a Diversified Global Medical Cannabis Company. The cannabis space has proven to be a difficult industry in which to create value for its shareholders, therefore Alliance is looking at pivoting to a different business segment, accompanied by financing, new directors, and management.
We believe that being part of the growing Web3 space will allow for the Company to create significant value for shareholders as this technology is here to stay and growing daily. The term Web3 was coined by Ethereum co-founder Gavin Wood in 2014 and refers to moving the internet toward decentralized technologies with the promise of increased transparency and accessibility. Proponents say the shift toward Web3 will make the internet open to more innovative technologies and shift power away from large tech companies.
To understand how Web3 works, first you need to know the basics of blockchain technology. The blockchain is a distributed database, or ledger, which is not owned by any one entity (decentralization). It stores information, such as cryptocurrency transactions, in a digital format that cannot be edited or deleted (transparency). This information is stored in a “block” that connects to other blocks when it reaches storage capacity limits, creating a chain. Hence the name blockchain. With the transparent and decentralized nature of the blockchain, developers are now building a new wave of innovative applications that leverage this technology; what is now known as Web3.
Management continues to work with groups that want to raise capital and build a technology company to take advantage of the tremendous opportunities in the Web 3.0, ChatGPT, Blockchain and Artificial Intelligence technologies. Web3 technology is developing at a rapid pace, thus creating a viable sustainable ongoing market within which the Company will flourish. Alliance Growers intends to be reorganized into a Web3 Tech Company within the next few months with strong management and a strong advisory board.
Dennis Petke,
President & CEO
Alliance Growers Corp.
About Alliance Growers Corp.
Alliance Growers is currently de-listed from the CSE due primarily to the new listing rules implemented by the CSE effective April 3, 2023. Alliance Growers previously operated as a Diversified Global Medical Cannabis Company, but as the cannabis space has proven to be a difficult industry in which to create value for its shareholders, the Company pivoting to the Web3 space accompanied by financing and Web3 related board of directors, advisory board, and management. The Company is working with its legal team to ensure it meets the new listing standards while finalizing on one of several very promising opportunities.
For more information contact:
Rob Grace
Communications Consultant
Tel: 778-998-5431
RobDGrace@gmail.com
Dennis Petke
CEO, President, and Director
Tel: 778-331-4266
DennisPetke@alliancegrowers.com
FORWARD LOOKING INFORMATION
This newsletter 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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