February 16, 2016 – Vancouver, B.C. – Alliance Growers Corp. (CSE: ACG) (the “Company” or “Alliance”) is pleased to announce updated plans for consolidation of its activities in the medical marijuana industry, to be augmented by the development of ancillary natural products in the natural health industry.
Alliance has been focused on becoming a vertically-integrated company in the medical marijuana industry through interests in cannabis production facilities, medical marijuana-related technologies, either through direct ownership or joint venture agreements. The new board, management and advisors of Alliance have been investigating environmentally friendly natural-ingredient based pharmaceuticals and environmentally friendly, hemp infused product development and distribution in the complementary natural health sector.
To date, Alliance holds a 50% interest in BC Maramed Production Ltd. (“BCMM”) which owns a leasehold interest and equipment for an 11,000 square foot production facility in Kelowna, British Columbia and has submitted an application to become a Licensed Producer of medical marijuana under Health Canada’s Marihuana for Medical Purposes Regulations (“MMPR”). Upon receipt by BCMM of an approved MMPR Production License from Health Canada, a further 12.5% interest in BCMM will be transferred to Alliance.
Alliance is currently in discussions with entities that will source, develop, distribute and sell cannabis related paraphernalia and edibles through retail establishments located in the emerging permitted US and Canadian markets. In addition, Alliance is in discussions with suppliers in Canada, USA and Mexico sourcing health products made from natural ingredients such as hemp and cactus. The business model for Alliance is evolving from just being a producer of medical marijuana to one of being a developer and distributor of a much wider range of related products, both within the jurisdictions where marijuana is permitted, and non-cannabis products in those areas not yet approved by the regulators.
The CEO comments
“The board and the advisors of Alliance, along with management are actively pursuing opportunities that are best suited to the resources and markets that are available to the Company at this time to ensure funding availability as well as efficient and profitable operations for the benefit of all stakeholders. We believe we have identified several such opportunities and will continue our due diligence to choose the ones best suited for Alliance.”
About Alliance Growers Corp.
In addition to producing Medical Marijuana, Alliance is actively pursuing environmentally friendly technologies and processes that it will acquire and license to the medical marijuana and agriculture industry. The Company has already identified and begun discussions on three such technologies. Under contract with our compounding pharmacist and director, Sina Pirooz, Alliance will source and/or development high demand health products made with hemp, medical marijuana and other natural ingredients.
The Company currently holds 50% 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”). Pursuant to amendment agreements with certain BCMM shareholders, the Company agreed to acquire an additional 12.5% interest in BCMM upon BCMM becoming a Licensed Producer. In addition,
On behalf of the board of directors of
ALLIANCE GROWERS CORP.
For more information, contact Dennis Petke