SIGNING EUROPEAN FINANCE EXCLUSIVE
Alliance Growers Corp., (ACG.C) in connection with the acquisition of the land for the cannabis botany centre, is finalizing an exclusive financing proposal with a Western European financing group with offices in Amsterdam, New York, London and Germany.
The financing of Alliance Growers' projects is being structured in stages as the capital is required, and not at one time to prevent unnecessary shareholder dilution. The exclusive financing will be carried out over time in the form of straight equity, convertible debt, streaming or debt financing in the amount of $5-million (U.S.) to $10-million (U.S.) based on the underlying projects, with the initial tranche between $500,000 (U.S.) and $1-million (U.S.) expected to take place in September, 2017.
One of the key benefits of the engagement will be the introduction to strategic investors that are already involved in the cannabis space in Europe and South America. In addition to financing projects in Europe and North America, this group has been involved in financing projects in Brazil and Latin America for over 10 years.
Specifically, it has been agreed through several discussions that the capital will be secured to finance the cannabis botany centre, strategic investments in ACMPR (Access to Cannabis for Medical Purposes Regulations) applicants (such as CanWe Growers), investment in the Israeli medical cannabis company (to secure pharmaceutical-grade CBD (cannabidiol) oil for international distribution) and the Cannabis Marketplace app. Other projects may be added to the agreement as they evolve.
Dennis Petke, Alliance Growers' president and chief executive officer, commented: "We have all been waiting for this time in the life of Alliance Growers, where significant financing comes together with the acquisition of the land for the cannabis botany centre and the commencement of the ACMPR application. This combination is the catalyst we have all been waiting for. I am certain all stakeholders agree with Alliance Growers management that getting our projects financed will catapult the company to the next level and make Alliance Growers one of the best cannabis investment opportunities of 2017 and on. Company management must now roll up its sleeves and focus our efforts for the benefit of all shareholders."
About Alliance Growers Corp.
Alliance Growers 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 is finalizing a new business partnership with Botanical Research In Motion 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.