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Alliance Growers in talks to invest in ACMPR applicants
2017-09-28 14:56 ET - News Release
Mr. Dennis Petke reports
ALLIANCE TO FOCUS ON CANADIAN ACMPR APPLICANTS
Alliance Growers Corp. is in negotiations with several Access to Cannabis for Medical Purposes Regulations (ACMPR) applicants at various stages in British Columbia to acquire significant interests in their operations through a shared financing mechanism. Due to the uncertainty with Canadian public companies acquiring U.S. cannabis-related assets, Alliance has made the decision to focus on Canadian applicants.
Alliance has already acquired interests in two ACMPR applicants, most notably Canwe, a private company based in Ontario that has applied for its ACMPR licence and is currently in the review and security clearance stage. Canwe's experienced team in cultivation and regulation presents a unique competitive advantage to Alliance Growers as the company negotiates with other ACMPR applicants.
The company is able to offer the services of Canwe in addition to assisting with financing through the public markets. Canwe boasts a strong 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.
The number of ACMPR applicants in British Colombia has increased drastically over several months as the regulations make for faster licence processing for the best-prepared candidates, and Alliance has an advantage over other companies through its strategic alliance with Canwe. The company has been in talks with growers from Vancouver Island and throughout the Okanagan, most recently a 100,000-square-foot ACMPR applicant in Summerland.
With the multiple financing mechanisms in place and ready to go and the land for the cannabis botany centre purchased, along with the ACMPR application commencing, Alliance is ready to start making more strategic acquisitions.
"Holding interests in several ACMPR applicants that eventually become licensed producers benefits the company with a strong balance sheet and provides cash flow via plantlet sales and, in some cases, shared profits. We have developed a unique financing mechanism working with those who want to invest in private ACMPR applicants but who also would like to reduce their risk and enjoy liquidity. To do so, these investors invest through Alliance with the bulk of the proceeds being used to acquire an interest in the private applicant, thus giving them the funds they require to proceed with their applications and subsequent operations. All stakeholders of Alliance will benefit from the arrangements we are making in the cannabis cultivator space. We look forward to announcing our new acquisitions in the coming six to eight weeks," said Dennis Petke, Alliance Growers' president and chief executive officer.
About Alliance Growers Corp.
Alliance Growers is a diversified cannabis company driven by the company's four-pillar organization plan: cannabis botany centre, strategic ACMPR investments, CBD (cannabidiol) oil supply and distribution, and research and development.
Alliance Growers is finalizing a new business partnership with Botanical Research In Motion 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 the agriculture market in general.
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