June 7, 2023 – Vancouver, BC – Alliance Growers Corp. (CSE: ACG; FWB:1LA; OTCPK: ALGWF) (“Alliance Growers”, “ACG” or “the Company) ") provides an update on its listing status after being de-listed effective May 8, 2023 pursuant to the significant amendments to CSE Listing Policies which came into effect April 3, 2023. See details
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, loyalty, and trust in Alliance Growers. I wanted to provide this update to assure shareholders that management continues to reorganize the company and have it listed for trading as soon as possible.
Alliance Growers previously operated as a Diversified Global Medical Cannabis Company driven by the Company’s ‘Four Pillars’ Organization Plan – Products and Services to Cannabis and Hemp Cultivators (Cannabis Biotech Complex), Strategic Alliances with Cannabis and Hemp Cultivators, CBD Infused Products and Research and Technology.
https://www.ctvnews.ca/canada/canadians-have-lost-more-than-131-billion-investing-in-cannabis-companies-firm-1.6156722.
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.
One such opportunity management is considering is in the agricultural space, after being approached by a group that is looking to acquire several failed cannabis grow operations and repurpose these facilities for food production, locally and organically. With the implosion of the Cannabis industry, many companies find they overbuilt their greenhouse and in-door space and can be purchased at deep discounts. A great deal of North America’s fresh produce comes from Mexico or California, 95% of all fresh produce in Canada is imported. The disruption to our way of life during Covid 19, showed how fragile our food system really is and this group is focused on a hyper localized strategy, with the goal to provide food security in every community they operate in. According to this group, the market is changing as they see consumers demand for hyper local produce is higher than the demand for organic produce.
Management has also been in talks 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/crypto and Artificial Intelligence (AI) space. We believe today’s technology is developing at a rapid pace creating a viable market, not merely a tech bubble. Alliance intends to be reorganized into a Tech Company within the next few months.
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. The Company is exploring several very promising non-cannabis projects and is working with its legal team to ensure it meets the new listing standards. Alliance expects to likely be reorganized into a Tech Company within the next few months.
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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