November 2, 2018 – Vancouver, B.C. – Alliance Growers Corp. (CSE: ACG; FWB: 1LA; WKN: A2DFYX) (“Alliance Growers” or the “Company”) reports that it has issued the second tranche of shares pursuant to the acquisition agreement to acquire the licensed producer applicant, BioCannaTech Inc. (“BioCannaTech”), to become a licensed producer under Health Canada’s access to cannabis for medical purposes regulations (“ACMPR”) in Quebec.
The terms and conditions of the agreement to acquire BioCannaTech were initially announced on April 19, 2018. The Company has reached the “Ready to Build” stage and has engaged Groupe Icore to manage the construction of the facility. See the Company’s news release dated October 18, 2018 for more information regarding the Quebec facility.
The agreement calls for Alliance Growers to make staged payments as follows:
(a) A down payment of $238,637, which has been paid.
(b) The issuance of $50,000 by way of 169,491 shares to Canna Technology Inc. and 1,200,000 shares to 1134778 BC Ltd (5/6) and Erick Factor (1/6) (“the Recipients”) which has been issued;
(c) $250,000 by way of 1,666,666 shares to Canna Technology and 1,200,000 shares to the Recipients upon achieving the Ready to Build stage, to be released immediately subject to a hold period of four months and one day;
(d) $500,000 paid to Canna Technology and 1,200,000 shares to the Recipients upon receipt of municipal building permits to start construction on or before December 31, 2019;
(e) $500,000 in shares to Canna Technology and 1,200,000 shares to the Recipients upon receipt of Health Canada approval of Cultivation stage on or before December 31, 2019;
(f) $500,000 in shares to Canna Technology and 1,200,000 shares to the Recipients upon receipt of Health Canada LP License on or before December 31, 2019.
About Alliance Growers Alliance Growers is a Diversified Global Medical 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 Pharmagreen Biotech Inc. advancing a new business partnership, to jointly develop and operate a 62,000-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 Cannabis Biotech Complex’s main facility is the Cannabis Biotech Centre which will grow Cannabis plantlets using proprietary tissue culture propagation, specifically utilizing the “Chibafreen Invitro Plant Production System”, which allows for more tissue cultured plantlets to be produced in less space and less time. . . . 2
Alliance Growers Corp. News Release November 2, 2018 Page 2
Through its wholly owned subsidiary, BioCannaTech Alliance is in the final expedited phase of Health Canada’s “Access to Cannabis for Medical Purposes Regulations” (ACMPR) approval for the production and sales of Medical Marijuana. BioCannaTech Inc. has a leased a 10,000 square foot facility in Mont-Royal, Québec with permits in place from the municipality to renovate the facility. Initial expansion plans include an adjacent 17,000 square foot leased facility, comprised of 15,000 square feet of growing space, and 2,000 square feet of existing offices and a full loading/shipping dock.
For further information, please visit the Company’s website at www.alliancegrowers.com or the Company’s profile at www.sedar.com.
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On behalf of the board of directors of ALLIANCE GROWERS CORP.
Dennis Petke President and CEO
For more information contact: Rob Grace Dennis Petke Communications Consultant Tel: 778-331-4266 Tel: 778-998-5431 DennisPetke@alliancegrowers.com 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.
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