ALLIANCE GROWERS TO ACQUIRE ESTABLISHED ONTARIO BASED RETAILER SPYDER VAPES INC.
2018年5月29日 - 11:18PM
InvestorsHub NewsWire
ALLIANCE GROWERS TO ACQUIRE ESTABLISHED ONTARIO
BASED RETAILER SPYDER VAPES INC.
Vancouver, B.C. --
May 29, 2018 -- InvestorsHub NewsWire -- Alliance Growers Corp.
(CSE: ACG; FWB: 1LA; WKN: A2DFYX)
(“Alliance Growers” or the
“Company”) is pleased
to report that it has executed a Letter of Intent (“LOI”)
with Spyder Vapes Inc. ("Spyder") and all of the
shareholders of Spyder (collectively, the "Spyder Shareholders")
regarding the acquisition of all the issued shares of Spyder (the
“Spyder Shares”) by Alliance Growers. Spyder is an established,
upscale, ‘high-end with competitive prices’ retail store chain
based in Ontario, with strong revenues and an aggressive growth
plan across Canada.
Acquisition of Spyder Vapes
The execution of this LOI, to be
followed by the execution of a formal Definitive Agreement
(the “Definitive Agreement”), is the
first step in the development of a true vertically
integrated Seed to Sale business for Alliance Growers. The Company
will purchase from the Spyder Shareholders 100% of the Spyder
Shares pursuant to a share exchange agreement (the “Transaction”).
Following the Transaction, Spyder will be a wholly owned subsidiary
of Alliance Growers. Spyder has two wholly owned subsidiary
companies, Spyder Vapes (Appleby) Inc. and Spyder Vapes (East)
Inc. Alliance Growers will issue to the Spyder Shareholders
10,000,000 common shares of Alliance Growers at a deemed price of
$0.25 per share. The consideration is based on the analysis
of the assets and business value of Spyder, as at the date of this
LOI, as determined by the management of Alliance Growers.
Commenting on the acquisition of Spyder Vapes, Dennis Petke,
Alliance Growers’ President and CEO, noted “We are very pleased
with the acquisition of Spyder Vapes, as it launches our Seed to
Sale strategy in the highly profitable retail cannabis space. We
are particularly encouraged by the recent news highlighting the
company MedMen, the U.S. marijuana retailer known for its upscale,
Apple-like stores. California-based
MedMen plans to undertake an RTO listing on the CSE, with a
pre-money valuation of US$1.65 billion. Earlier in 2018 we
witnessed the market success of the merger that created Hiku Brands
Company Ltd., that included the high-end retail stores of Tokyo
Smoke. These are two very exiting analogous companies to the
Alliance Growers strategy that foretell a tremendous period ahead
for Alliance and its stakeholders. We are fortunate to have
financing commitments in place in anticipation of this expansion of
the Alliance business model, in addition to new funding sources.
Alliance Growers continues to execute on its business plan to
create a diversified global cannabis company that is focused on
where the market is going, not where it is
today”.
Spyder expansion across Canada
Alliance and Spyder plan to add additional retail stores this year
in jurisdictions where Spyder Vapes can apply for legal cannabis
distribution licenses. Spyder's plan to grow this revenue will come
from adding multiple stores, developing a robust on-line store and
by adding new mass market products such as CBD oil and cannabis
products once recreational use is approved. To that end,
applications have commenced in Alberta and leases are being
considered in Calgary. Additionally, the application process for
Vancouver stores is already underway.
Spyder Vapes, as the retail arm for Alliance Growers, will create a
true Seed to Sale business for the Company and its customers.
From plantlets produced by the Cannabis Biotech Complex to the
Greenhouse production of Dana Strain hemp in BC, to the upcoming
ACMPR production in Quebec and other ACMPR investments, this
vertical integration strategy will give Alliance Growers and Spyder
Vapes a significant advantage in cost and margin compared to
competitors.
About Spyder Vapes
Inc.
Founded in 2014 by entrepreneur Dan Pelchovitz, Spyder Vapes is an
established chain of three high-end vape stores in Ontario. The
Spyder brand is defined by its high-quality proprietary line of
e-juice, liquids and exclusive retail deals, dispensed in uniquely
designed stores creating the optimal customer experience. Revenues
for the initial two stores totalled $733,000 for the year ending
January 31, 2018. The third store opened in December 2017.
Spyder is currently sourcing retail locations throughout Alberta
and British Columbia where it seeks to establish a presence and
apply for cannabis retail licences pursuant to recently announced
provincial legislation. The additional retail locations will allow
Spyder to leverage its retail and brand-building expertise, to
offer customers quality cannabis products and, more specifically
proprietary CBD products from Alliance as legislation
permits. Spyder’s existing revenues and potential growth in
the vape business will strengthen its ability to pursue
opportunities in the soon to be launched recreational cannabis
marketplace.
Spyder’s retail and distribution focus is an ideal fit for Alliance
Growers’ mission to build a diversified global cannabis company
focused not on where the market is today, but where it is going.
Spyder neatly fits into Alliance Growers’ emerging network of
interests in licenced cannabis growers, cannabidiol (CBD) oil
extractors, new agricultural technologies, and its own Cannabis
Biotech Complex. Spyder, as the retail arm for Alliance
Growers, will create a true Seed (plantlet farm) to Sale (retail
stores) business for the Company and its customers.
For further information, please visit
Spyders’s website at www.spydervapes.com.
About Alliance Growers
Corp.
Alliance Growers is a
diversified cannabis company driven by the Company’s ‘Four Pillars’
Organization Plan – Cannabis Biotech Complex, Strategic ACMPR
Investments, CBD Oil Supply and Distribution, and Research and
Technology.
Alliance Growers is working
with WFS Pharmagreen Inc. advancing a new business partnership, to
jointly develop and operate a 58,000-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 Biotech Complex 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.
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.
For more information
contact:
Dennis Petke
CEO, President and
Director
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 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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