Vancouver, British Columbia--(Newsfile Corp. - June 25, 2018) - Alliance Growers Corp. (CSE: ACG) (FSE: 1LA) (WKN: A2DFYX) (OTC: ALGWF)("Alliance Growers" or the "Company") is pleased to provide a progress report from a site visit to BioCannaTech, the Company's Quebec access to cannabis for medical purposes regulations ("ACMPR") application in Montreal, Quebec.
Alliance Growers is pleased to report that Company President and CEO Dennis Petke was in Montreal last week and over the weekend to meet with the architect, engineer and general contractor as well as other key representatives of BioCannaTech. The Company also met with BioCannaTech's legal and financial reporting staff. The group toured the existing facility and a had a tour of the expansion opportunity. Discussions with the key representative of BioCannaTech included the expansion opportunity directly beside the existing facility where the two can be connected.
Key takeaways from the meetings and facilities tour are as follows:
Phase 1- 10,000sq. ftexisting facility
- Alliance Growers will provide financing and other resources to build out the wholly owned subsidiary, BioCannaTech's medical marijuana facility in the town of Mount Royal, Quebec, in preparation for the inspection from Health Canada.
- There will be a retro fit of the existing building that was previously used for cold storage. This is ideal as insulated panels and critical HVAC components are already in place.
- There is no need to allocate space for a "mother" room as Alliance Growers will be providing plantlets to the facility.
- Construction permits are anticipated in approximately two weeks.
- Estimated completion by September, 2018.
- Estimated first cultivation targeted by November 30, 2018.
Phase 2- 17,000 expansion opportunity
- Alliance Growers is in negotiations for another 17,000 sq. feet (15,000 for growing, 2,000 for offices. These facilities are already in place and include a full loading dock.
- The buildings are adjacent to the existing facility and can easily be connected to add more space.
Phase 3- Additional ACMPR licenses in other Provinces
- After receiving the ACMPR in Quebec, we will be making an application for an ACMPR license in BC and potentially Alberta as well.
Alliance Growers is also pleased to report that it has been successfully meeting with brokers, high net worth individual and other members of the investment community during the Company's visit to Montreal and has received very positive feedback and tremendous interest in the Alliance Growers' opportunity. The Company will continue the tour with investor meetings in Toronto this week.
Dennis Petke, President and CEO of Alliance Growers commented: "We are pleased with the progress the Company has made to date. Alliance Growers drive for an ACMPR license in Quebec is accelerating. The Company has created a vertically integrated Company starting with the production of genetically perfect, disease free plantlets from the Cannabis Biotech Complex. This includes providing the plantlets required for the production of 99% pure CBD oil derived from the Dana Strain in a joint commercial hemp operation with Pharmagreen. Additionally, future ACMPR production through BioCannaTech, the Company's wholly owned subsidiary in Quebec, and other ACMPR investments will provide flower at wholesale or cost for Cannabis CBD oil extraction. The addition of Spyder Vapes Inc., an established, upscale, 'high-end stores without high-end prices' retail chain for distribution of products produced from the Dana strain and from Cannabis CBD oil will give Alliance Growers and its group of companies a significant advantage in cost and margin compared to competitors."
About Alliance Growers Corp.
Alliance Growers is a diversified 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 WFS Pharmagreen Inc. advancing a new business partnership, to jointly develop and operate a 58,000-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 Biotech Complex 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 recently announced that it will acquire established Ontario based retailer Spyder Vapes Inc. This is the first step in the development of a true vertically integrated Seed to Sale business for Alliance Growers.
About Spyder Vapes Inc.
Founded in2014by entrepreneur Dan Pelchovitz, Spyder Vapes is an established chain of three high-end vape stores in Ontario. The Spyder brand is defined by its high-quality proprietary line of e-juice, liquids and exclusive retail deals, dispensed in uniquely designed stores creating the optimal customer experience. Revenues for the initial two stores totalled $733,000 for the year ending January 31, 2018. The third store opened in December 2017.
Spyder Vapes is currently sourcing retail locations throughout Alberta and British Columbia where it seeks to establish a presence and apply for cannabis retail licences pursuant to recently announced provincial legislation. The additional retail locations will allow Spyder Vapes to leverage its retail and brand-building expertise, to offer customers quality cannabis products and, more specifically proprietary CBD products from Alliance Growers as legislation permits. Spyder Vapes' existing revenues and potential growth in the vape business will strengthen its ability to pursue opportunities in the soon to be launched recreational cannabis marketplace.
Spyder Vapes' retail and distribution focus is an ideal fit for Alliance Growers' mission to build a diversified global cannabis company focused not on where the market is today, but where it is going. Spyder Vapes neatly fits into Alliance Growers' emerging network of interests in licenced cannabis growers, cannabidiol (CBD) oil extractors, new agricultural technologies, and its own Cannabis Biotech Complex. Spyder Vapes, as the retail arm for Alliance Growers, will create a true Seed (plantlet farm) to Sale (retail stores) business for the Company and its customers.
For additional information, please visit Spyder Vapes' website at www.spydervapes.com.
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