September 20, 2017 – Vancouver, B.C. – Alliance Growers Corp. (CSE: ACG; FWB: 1LA; WKN: A2DFYX) (“Alliance Growers” or the “Company”) is pleased to announce that the Company will be retaining California legal counsel as representation for the Company’s Long Beach partnership venture.
The attorney Alliance will be working with was the attorney for one of the top real estate firms in California for 30 years with extensive experience in commercial real estate transactions including the permitting of subdivisions. The attorney also has considerable experience with corporate structuring including a REIT that now has over $1.3 Billion in assets. He handled hundreds of marijuana cases in California many years ago before the laws began to change in the cannabis industry.
As previously announced in a news release on July 27, 2017, Alliance Growers is in negotiations with a private company for an equity partnership for a licensed cultivation facility in the City of Long Beach. The partnership will be for a 100% ownership in a 6,000 sq. ft. licensed medical marijuana cultivation building and a 50% or higher ownership of the cultivation business.
The intention would then be to add a Manufacturing License which would add an additional valuable revenue stream to the business. This would provide full ownership of the building and two revenue streams while leaving the running of the day-to-day business to the private company team. Alliance also expects to provide tissue cultured plantlets to the facility and potentially other facilities in California via an “in-house” lab arrangement.
Dennis Petke, Alliance Growers’ President and CEO, commented on the proposed partnership. “California is on the verge of creating a legal market for marijuana worth more than $5 billion and Alliance Growers intends to benefit from it to add further value for all our stakeholders. To ensure Alliance is compliant with all regulations pertaining to cross border transactions in the cannabis space, we are retaining California legal counsel. We are anxious to move forward with this tremendous opportunity in the heart of the marijuana-friendly state of California in the City of Long Beach. This opportunity is very much in line with both the mandates of our financing partners and Alliance Growers strategy to position the Company for where the global cannabis market is going. We look forward to sharing significant additional financing and business implementation updates with investors as we progress.”
About the California Cannabis Market
California, is the 6th largest economy in the world and is the largest and most influential state in the cannabis industry in terms of production, consumption, and cultural influence. The legalization of adult use in California has already started to show that it has far-reaching effects, both within the state and nationally. California. New Frontier, the cannabis Big Data and analytics authority, in partnership with Arcview Market Research, the leading publisher of cannabis market research has released its 2016 California Legal Cannabis Market State Profile, which shows the potential growth of the adult use market. The report finds that over the next four years, annual legal cannabis sales will grow at a compound annual growth rate of 23.1%, from $2.8 billion in 2016 to an estimated $6.5 billion by 2020.
About Alliance Growers
Alliance Growers Corp 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 has executed an agreement with Botanical Research In Motion International Inc., for a Canada Exclusive License 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.
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.
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On behalf of the board of directors of
ALLIANCE GROWERS CORP.
President and CEO
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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.
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