union77 wrote: What the hell are you talking about? Posting lies, here are the facts. Right out of the FRC Report released September 27th 2017.
Alliance Growers has closed the first tranche of its equity investment into New
Maple Holdings Ltd. (“New Maple”). New Maple is the parent company of Canwe
Growers Inc. (“Canwe”), an Ontario-based cannabis grower applying for an ACMPR
license. As Canwe is an important investment for Alliance and a significant catalyst
in the long-term
Canwe is Alliance’s most significant strategic investment, as the company is making
headway in the licensing process, and offers Alliance the future potential to access
international markets with their plantlet product. The private company is based in Ontario
and is currently in the review and security clearance stage of the ACMPR licensing process.
The company 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 strong
team of highly sought after industry veterans, some of whom formerly worked at ACMPRlicensed MedReleaf Corp. (TSE: LEAF).
We believe that Canwe’s experienced teampresents a unique competitive advantage to Alliance, who stand to benefit from holding an investment in the cannabis cultivator space. 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 cultivation centre, with the potential to expand the centre to 200,000 square feet over two floors.
As per the deal terms, Alliance has subscribed for 375,000 New Maple common shares at a
price of $1.00 per share, representing roughly 5% of total outstanding shares. The company has so far spent $62,500 for 62,500 shares, and intends to pay for the remaining 312,500 shares of their commitment by October 15, 2017. The deal also features a non-binding letter of intent for the purchase and sale of live cannabis plants, tissue culture and plantlets between Alliance and New Maple. This, however, is highly dependent on Canwe receiving its ACMPR license.
Racetub wrote: So it looks like that Canwe "deal" was just another fluffy news release that went nowhere. The deal expired without ACG being able to come up with $300,000.
This company has done NOTHING in the past year!
Shareholders are getting angry Dennis! Management should apologize for their stumbles, and step down.