ALLIANCE GROWERS PROJECT DEVELOPMENT AT CANNABIS BIOTECH COMPLEX
May 6, 2019 – Vancouver, BC – Alliance Growers Corp. (CSE: ACG; FWB:1LA; OTCQB: ALGWF) (“Alliance Growers” or “the Company) is pleased to report on project development at the Cannabis Biotech Complex.
Alliance Growers is financing a 30% interest in the Cannabis Biotech Complex with Pharmagreen Biotech Inc. (OTC: PHBI) (“Pharmagreen”). Pharmagreen plans to produce 1 Million sellable starter plantlets per month to cannabis licensed producers, and CBD hemp farmers with gross annual revenues projected at $120 Million with a gross profit margin of $80 to $90 Million. Project development at the site in Derouche, Mission, B.C. has advanced on several fronts:
- According to Health Canada’s Cannabis Tracking and Licensing System (“CTLS”), the Alliance Growers/ Pharmagreen Cannabis License Application was advanced to the second stage in a three-stage process.
- The Alliance Growers/ Pharmagreen Cannabis Biotech Complex has received the reginal board final approval for the development permit submitted in 2018 and are currently in the final stages of completing the design and engineering phase.
- The Alliance Growers/ Pharmagreen Cannabis Biotech Complex pre-fill stage with the delivery of 40,000 cubic yards of construction fill to the Derouche site is planned for completion in Q2 2019.
- Site work on the 26-acre Cannabis Biotech Complex property is nearing completion for the preparations to have the site delivery ready for the fill. The well has been drilled, the septic field has been designated and the access road is being constructed.
- The anticipated completion for construction of the 63,000 square foot facility is in Q3 of 2020.
Commenting on the progress of Pharmagreen and the Biotech Complex, Dennis Petke, President and CEO of Alliance Growers stated, “The Alliance Growers Cannabis Biotech Complex is progressing impressively, with the Tissue Culture Facility designed to produce cannabis tissue cultured plantlets utilizing the proprietary “Chibafreen Invitro Plant Production System”, allowing more tissue cultured plantlets to be produced in less space and less time. We are very excited to be part of the worlds’ first state-of-the-art Cannabis Biotech Complex delivering high quality services and products to the cannabis and hemp growers, in North America and then on a global level. Management is working diligently to creating a global cannabis company that is establishing a long-term presence in the cannabis industry through diversity, science and technology. We thank our many loyal shareholders for their support and patience as we navigate the volatile cannabis market, creating value for all Alliance stakeholders.”
Pharmagreen is migrating from the PINKS to OTCQB once their S1 is effective and will become a OTC QB listed reporting issuer, with the intention to be a NASDAQ listed company as soon as the company qualifies. Public listing information for Pharmagreen Biotech Inc., includes the recent filing of their S1 registration statement, filed on March 20, 2019 with the 20 Million shares offering.
About Pharmagreen Biotech, Inc.
Pharmagreen Inc. is a wholly owned Canadian based subsidiary of Pharmagreen Biotech, Inc., a publicly traded (OTC PINKS: PHBI) company. WFS Pharmagreen Inc. is a cannabis company that is becoming the largest producer of cannabis plantlets through a proprietary tissue culture process with an opportunity to become one of the largest players globally. Pharmagreen’s mission is to advance the technology of tissue culture science and to provide the highest quality 100% germ free, disease free and all genetically the same plantlets of cannabis and other flora while offering full spectrum DNA testing for plant identification, live genetics preservation using low temperature storage for various cannabis and horticulture plants; extraction of botanical oils mainly CBD oil, and to deliver laboratory based services to the North American Cannabis and agriculture sectors. For further information on the company progress on the construction of a 63,000 square foot “Cannabis Biotech Complex” please visit www.pharmagreen.ca
About Alliance Growers Corp.
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. to jointly develop and operate a 63,000-square foot Cannabis Biotech Complex, to be the first of its kind in Western Canada to house a DNA Botany lab, CBD extraction facility and Tissue Culture Plantlet Production facility to service the Cannabis market and agriculture market in general.
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