REPORTS COMPLETION OF PRE-CONSTRUCTION PHASE OF CANNABIS BIOTECH COMPLEX
Alliance Growers Corp. (ACG.C) has completed the preconstruction phase of the cannabis biotech centre, the primary facility of its cannabis biotech complex being developed in Deroche, B.C. As previously announced, Alliance Growers has entered into a partnership with WFS Pharmagreen Inc., a wholly owned Canadian subsidiary of Pharmagreen Biotech Inc., to develop the cannabis biotech complex.
Pharmagreen, a cannabis biotech company focused on producing cannabis starter plantlets through its proprietary tissue culture process, is currently completing its pre-construction phase of the Cannabis Biotech Complex. Alliance Growers has committed to acquiring a 30% equity interest and 30% profit share in the Cannabis Biotech Complex, to be carried out in stages. The funds advanced by Alliance Growers to Pharmagreen to date, have been instrumental in completing the pre-construction phase of the project.
Pre-construction is one of the most significant phases of the entire process, it includes completion of building engineering, designs for structural loads, electrical, HVAC and geotechnical as the main components. Pre-construction also includes submission of Health Canada applications for an ACMP and a Dealer's Licence, both of which were submitted in June 2018.
The Alliance Growers business model integrates with Pharmagreen's business model. Alliance Growers will focus on the development, investment and acquisition of quality ACMPR applicants to secure supply contracts for tissue culture plantlets and develop both medical and recreational distribution channels for the sale of Alliance Growers and Pharmagreen branded cannabis products. Pharmagreen will focus on tissue culture plantlets and other valuable services for cultivators. Alliance Growers will establish a Canadian retail presence in the adult-use cannabis market via acquisitions or partnerships that have the required experience and expertise. In addition to the partnership with Pharmagreen, to develop the Cannabis Biotech Complex, Alliance Growers made a strategic investment of CAD$300,000 in the equity of Pharmagreen, resulting in 1,200,000 common shares in the capital of Pharmagreen Biotech Inc.
Commenting on the relationship with Pharmagreen, President and CEO of Alliance Growers, Dennis Petke stated "I have been working closely with Peter Wojcik on many fronts in the Cannabis Space since early 2016. Recently, Peter and I presented the Alliance Growers business model at several roadshows in Vancouver, Montreal and Toronto. Peter's cannabis expertise made a strong positive impression during the presentations, as he is extremely knowledgeable in the areas of cultivation, strain protocols, extraction and distillation, as well as CBD/THC formulations for medical interventions. On a personal level, what I respect and appreciate most about Peter, is his passion for making a difference in peoples lives through the meticulous custom development of cannabis based medical protocols for individuals, while at the same time I admire his drive for developing a state of the art facility to ensure the utmost quality starter plantlets in cannabis cultivation for both medical and recreational purposes. We, at Alliance Growers, look forward to a strong, prosperous and enduring business relationship with Phramagreen for many years to come."
Commenting on the recent road shows in Vancouver, Montreal and Toronto, with Alliance Growers, Peter Wojcik, CEO of Pharmagreen Biotech Inc., commented "It was a real working session to participate in the Alliance roadshows with Dennis Petke, their CEO to some of the finest brokers, dealers, and fund managers in Canada. They all recognized that the Alliance model has the fundamentals from a plantlet to sale model."
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. 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 proposed 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.