Alliance Growers Corp. (CSE: ACG) (the “Company”) announces Dennis Petke has been appointed as President and a director of the Company, effective October 31, 2015. Mr. Petke is currently CFO of the Company and will remain in that position until the Company engages a qualified replacement CFO.
Mr. Petke replaces Paul Karroll as President, who is no longer with the Company. Mr. John Karroll has resigned as a director of the Company, effective November 1, 2015. The directors and management of the Company wish to thank Paul Karroll and John Karroll for their contribution and service to the Company.
About Alliance Growers Corp.
The Company currently holds 45% of the issued and outstanding shares of BC Maramed Production Ltd. (“BCMM”). BCMM owns a leasehold interest and equipment for an 11,000 square foot production facility in Kelowna, British Columbia and is in the process of applying to become a Licensed Producer of medical marijuana under Health Canada’s new Marihuana for Medical Purposes Regulations (“MMPR”). The remaining 55% interest in BCMM is due to be transferred to the Company upon receipt by BCMM of an approved MMPR Production License from Health Canada pursuant to the terms of signed agreements with the remaining shareholders of BCMM. In connection with the transfer of the remaining 55% interest in BCMM to the Company, the Company is required to issue 6,600,000 common shares to the holders of the remaining 55% interest in BCMM. The agreements with the remaining shareholders of BCMM terminate on December 31, 2015.
For more information please contact:
On behalf of the board of directors of
ALLIANCE GROWERS CORP.
Chairman of the Board