Chemdog wrote:
Alliance Growers to acquire 10% of private Ontario firm
2016-12-06 14:02 ET - News Release
Mr. Dennis Petke reports
ALLIANCE GROWERS ENTERS NEGOTIATIONS TO ACQUIRE INTEREST IN FIRST OF MANY HIGH QUALITY CANADIAN GROWERS
Alliance Growers Corp. has entered negotiations to acquire a 10-per-cent non-dilutive interest in a private company in Ontario that has assembled a top-tier growing team with management that has the expertise to expedite the licensed producer application process.
Through a serious of strategic alliances and investments in licensed producers at various stages in the licence process, Alliance is focused on securing long-term plantlet supply contracts and off-take agreements at wholesale cost for flower to be used for CBD (cannabidiol) oil extraction.
Commenting on the acquisition of this interest, Dennis Petke, Alliance Growers' president and chief executive officer, said: "We are pleased to initiate the first of several strategic investments in licensed producers who are at various stages in the licensed producer application process. These are designed to further our business model of supplying plantlets to growers from our cannabis botany centre, in addition to acquiring high-quality flower for extraction. Making acquisitions in Eastern Canada will also lead to joint development of multiple botany centres in Canada under our exclusive licence of the B.R.I.M. technologies. The development of these botany centres in Canada and in other countries will significantly add to the value of Alliance, along with interests we expect to acquire in multiple ACMPR (access to cannabis for medical purposes regulations) facilities."
Mr. Petke continued: "Alliance continues to develop its business model, which includes becoming a leading supplier of high quality CBD oil to multiple channels in the Cannabis industry for both medical and recreational use in Canada and the USA. This acquisition is another significant step in developing our business model to be ready for the legalization of Cannabis in both Canada and the USA. We appreciate and thank our new investors and all shareholders for their continued support as we work towards realizing our vision of becoming a successful global cannabis company".
About Alliance Growers Corp.
Alliance Growers is a diversified cannabis company driven by the Company's 'Four Pillars' Organization Plan - MMPR cannabis production facilities, distribution network, consumer products, and research and development.
Alliance is finalizing a Definitive License Agreement with B.R.I.M. for a Canada Exclusive License to jointly develop and operate cannabis Botany Centres. The initial project is a planned 40,000 square foot facility being developed near Vancouver, B.C., 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 planned facility 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. As well, Alliance Growers is negotiating to obtain exclusive Canadian distribution agreements for certain proprietary products for support of the cannabis growing industry in addition to possible partnerships with existing MMPR licensed and soon-to-be licensed facilities.
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