February 27, 2018 – Vancouver, B.C. – Alliance Growers Corp. (CSE: ACG; FWB: 1LA; WKN: A2DFYX) (“Alliance Growers” or the “Company”) is pleased to announce that it has entered advanced negotiations for a significant strategic investment with a private licensed Jamaican cannabis company.
The private Jamaican company has established operations with production facilities with a Tier 2 Cultivator’s license (cultivate land with ganja for medical, scientific and therapeutic purposes) and a Tier 2 Processing license (process ganja for medical, scientific and medical purposes, including the manufacturing of ganja-based products). The company’s mission is to produce quality medicinal products in Jamaica that have the unique qualities of Jamaica’s holistic healing culture. The Jamaican company will be exporting cannabinoids and terpenoids through joint ventures with selective Canadian and European Licensed Distributers, and develop and brand world class cannabis flower, extracts, infused products for the growing international cannabis industry.
Alliance Growers expansion into Jamaica will be a strong strategic move for the following reasons:
- Provides further geographical diversification
- Anticipated lower cost setting than Canada
- Canopy Growth Corp. has a subsidiary in Jamaica which validates the potential of the country by one of the largest, most respected Cannabis companies in the world.
- Canada-based Timeless Herbal Care Limited announced it has secured a US$100-million deal to develop medical marijuana products in Jamaica for the international market.
- Export potential to Canada, Europe and Uruguay and other South American countries.
- With a population of approximately 2.8 million, there is also the potential for the local market due to high acceptance of usage among the population.
Commenting on the negotiations to diversify into the Jamaican cannabis industry, Dennis Petke, Alliance Growers’ President and CEO, noted “The opportunity to build our shareholder’s equity by joining forces with thriving licensed Jamaican licensed cannabis company where industry giants such as Canopy Growth are already established is a tremendous opportunity for growth. Diversifying Alliance Growers into Jamaica, a country with a high level of acceptance of cannabis, will broaden Alliance Grower’s global diversification and complement the Company’s strategy of building a global cannabis company that is going to be where the market is will be going not where the market is today.”.
About Alliance Grower’s
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 finalized its a new business partnership with WFS Pharmagreen Inc., 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 entered into an exclusive agreement to acquire a late stage licensed producer applicant, Biocannatech, to become a licensed producer under Health Canada’s access to cannabis for medical purposes regulations (“ACMPR”) in Quebec. 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.
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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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