Alliance Growers Executes Final Agreement to Acquire BiocannaTech, Quebec ACMPR Applicant
2018年4月19日 - 11:32PM
InvestorsHub NewsWire
Vancouver, British Columbia -- April 19, 2018 -- InvestorsHub
NewsWire -- Alliance Growers Corp. (CSE: ACG) (FSE: 1LA) (WKN: A2DFYX)
("Alliance Growers" or the
"Company") is pleased to report that it has
executed the exclusive agreement to acquire the licensed
producer applicant, BiocannaTech Inc. ("BiocannaTech"), to become a
licensed producer under Health Canada's access to cannabis for
medical purposes regulations ("ACMPR") in Quebec. Closing
will be on or before April 25, 2018, five business days after the
fully executed agreement. Alliance Growers will supply financing
and resources to build out the medical marijuana facility in
preparation for the inspection required to obtain a growing
license. Once Health Canada is satisfied with a successful crop,
Alliance Growers will be granted its distribution license.
Quebec is considered the optimal locale for an ACMPR for many
reasons. The province is host to 20% of Canada's population and has
only had two ACMPR licenses approved to date with only one
currently producing. Quebec is currently vastly under represented
relative to many other provinces in Canada. The Quebec government
has always maintained an aggressive approach to attaining 25% of
whatever Canada's intentions are with business. Specifically
regarding ACMPR licenses, Quebec has publicly stated they want
Health Canada to process all 16 of the license applications in
Quebec and have them approved expeditiously. When it comes time for
Quebec licensees to purchase their supply, they will have a high
priority on purchasing from Quebec growers. In Canada there are
many politicians who act on the premise that Quebec deserves
continual special policy treatment and defenders of the foregoing
justify the exceptions with an observation that French language and
culture in Quebec makes that province unique; that merits special
treatment.
Alliance Growers will immediately acquire the Quebec late stage
licensed producer applicant, with payments issued in stages. The
terms of the BiocannaTech acquisition are as follows:
A down payment of $238,637, which has been paid.
a)
The
issuance of $50,000 in shares to Canna Technology Inc. and
1,200,000 shares to 1134778 BC Ltd (5/6) and Erick Factor (1/6)
("the Recipients") will take place within five days following
execution of the purchase agreement and filing with the CSE;
b)
$250,000 in shares to Canna Technology and 1,200,000 shares to the
Recipients to be released immediately upon receipt of Health Canada
approval for Ready to Build stage on or before December 31,
2019;
c)
$500,000 paid to Canna Technology and 1,200,000 shares to the
Recipients upon receipt of municipal building permits to start
construction on or before December 31, 2019;
d)
$500,000 in shares to Canna Technology and 1,200,000 shares to the
Recipients upon receipt of Health Canada approval of Cultivation
stage on or before December 31, 2019;
e)
$500,000 in shares to Canna Technology and 1,200,000 shares to the
Recipients upon receipt of Health Canada LP License on or before
December 31, 2019.
The initial BiocannaTech facility is configured at 10,000 sq. ft.
and is attached to a 120,000-sq. ft. warehouse to provide for
phased expansion. BiocannaTech will have the capacity to
produce up to 1,000 kg per year initially and be able to increase
that output in subsequent phases of expansion. The building is in
the Town of Mount Royal ("T.M.R.") in Montreal. This site is
zoned for Medical Cannabis Production and BiocannaTech has the
confirmation letter from the city of T.M.R. It is important to note
that the lease provides the option to buy the facility and build
equity for Alliance Growers and its shareholders.
Commenting on execution of the final agreement to acquire
BiocannaTech, Dennis Petke, Alliance Growers' President and CEO,
stated "We are very pleased to finalize this important and
exceptional opportunity to acquire BiocannaTech for Alliance
Growers and the Company's shareholders. We are fortunate to have
financing support from the partnerships we have developed over the
past 12 months. In December of 2017 and earlier this year,
Alliance Growers finalized funding of over $1M from a private
placement and the exercise of warrants and options. Upon conclusion
of a small financing in April, we expect to complete a larger
financing in May for up to $10 Million. Alliance Growers will then
be moving full steam ahead on financing the "initial build stage"
of BiocannaTech to create a premier cannabis supplier in Quebec.
Management of Alliance Growers believes it is advantageous to
capitalize on the governmental goal to increase the number of ACMPR
licensed companies in Quebec. We are pleased to have now entered
the grow space in Quebec whilst we negotiate additional license
applicants in the province. These are exciting times for the
cannabis industry and especially for Alliance Growers as we execute
on our additional plans including further acquisitions of interests
in ACMPR applicants, development of the Canna-App and finalization
of the Company's Pharmaceutical Grade CDB Oil partnership with an
Israeli Medical Cannabis Company. We ask all stakeholders to watch
for news on further developments of the Cannabis Botany Centre as
well. We also look forward to becoming a preferred tissue
cultured plantlet supplier through the partnership we are
developing with Pharmagreen on the Cannabis Botany Centre, to not
only the Quebec ACMPR community but right across Canada."
About Alliance Growers
Alliance Growers is a diversified cannabis company driven by the
Company's 'Four Pillars' Organization Plan — Cannabis Botany
Centre, Strategic ACMPR Investments, CBD Oil Supply and
Distribution, and Research and Development.
Alliance Growers is working with WFS Pharmagreen Inc. advancing a
new business partnership, 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 agriculture market in general. The proposed Cannabis Botany
Centre 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.
Alliance Growers has signed a fully executed agreement to acquire a
licensed producer applicant, BiocannaTech, to become a licensed
producer under Health Canada's access to cannabis for medical
purposes regulations ("ACMPR") in Quebec. Closing is on or before
five business days after the fully executed agreement. Alliance
Growers will supply financing and resources to build out the
medical marijuana facility in preparation for the inspection
required to obtain a growing license. Once Health Canada is
satisfied with a successful crop, Alliance Growers will be granted
its distribution license. This acquisition allows the Company an
opportunity to become a licensed producer in the Province of Quebec
and gain an in-road to provide tissue culture plantlets to all
licensed producers in Quebec.
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 Canada License process.
For further information, please visit the Company's website at
www.alliancegrowers.com or the Company's profile
at www.sedar.com.
If you would like to be added to Alliance Growers' news
distribution list, please send your email address
to newsletter@alliancegrowers.com
On behalf of the board of directors of
ALLIANCE GROWERS CORP.
"Dennis Petke"
Dennis Petke
President and CEO
For more information contact:
Dennis Petke
Tel: 778-331-4266
DennisPetke@alliancegrowers.com
Rob Grace
Communications Consultant
Tel: 778-998-5431
RobDGrace@gmail.com
THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED AND DOES NOT
ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS
RELEASE.
FORWARD LOOKING INFORMATION
This news release 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
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are cautioned that reliance on such statements and information may
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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.
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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
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expressly qualified by this cautionary statement.
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