Vancouver, British Columbia--(Newsfile Corp. - July 5, 2016) - Alliance Growers (CSE: ACG) has signed a letter of
Intent with WFS Pharmagreen to explore possible joint business interests and opportunities in the cannabis sector, which could
potentially lead to a full merger.
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Alliance Growers is a diversified cannabis company driven by its recently announced "Four Pillars" Organization Plan.
This refers to:
- Marijuana for Medical Purposes Regulations ("MMPR") licensed facilities,
- distribution networks,
- consumer products, and
- research and development.
Mission, British Columbia based Pharmagreen manufacturers and markets cannabis-hemp based products for animals. Through its
wholly owned subsidiary Canna Companion Products, based in Washington State, the company operates a 5,000 square foot production
and fulfillment centre.
Alliance Growers plans to obtain the exclusive Canadian license, at a cost of $400,000, from Pharmagreen for the marketing,
distribution and sales of all present and future Tissue Culture plantlet products utilizing the proprietary "Chibafreen Invitro
Plant Production System" technology. This technology is critical to the mass production of disease-free, genetically identical,
healthy starting plant material.
Dennis Petke, President & CEO, stated: "We are absolutely thrilled to have entered into an LOI with Pharmagreen. This
presents an opportunity for Alliance Growers to rapidly build out our "Four Pillars" Business Divisions ahead of schedule. This
will definitely provide almost immediate value for Alliance Growers shareholders."
Pharmagreen boasts a celebrity endorsement from world renowned Grammy award winning cannabis culture icon, Tommy Chong, of
Cheech & Chong fame. Tommy Chong, following his first venture into public markets, stated: "The decision to work with
Pharmagreen was simple, they are the best at what they do and they care about people and animals."
Alliance Growers will seek to raise between $400,000 and $500,000 by way of a private placement to cover the license fee and
additional due diligence with Pharmagreen and its subsidiaries. The execution of the formal license agreement may occur prior to
the fundraising.
Both parties plan to further develop a "Full Spectrum DNA Botany Lab", which would be the only such lab facility in Western
Canada. A unique blend of clean room lab facilities including a botanical oils extraction lab would be built under the heading of
"Botany Center". Licensing opportunities for the "Botany Center" for the UK and European Union are subject to further negotiations
and terms.
The shares are currently trading at $0.04, and with 27.1 million shares outstanding, the company is capitalized at $1.1
million.
For more information, please visit the company's website, www.alliancegrowers.com,
contact Dennis Petke, CEO, at 778-331-4266 or email DennisPetke@AllianceGrowers.com.
Investor relations is handled by Rob Grace, VP Corporate Development, who can be reached at 778-998-5431 or by email at RobGrace@AllianceGrowers.com.
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