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UPDATE - Alliance Growers Closes Lead Order of $2m Private Placement

August 30, 2018 - Alliance Growers Corp. (ACG.C) announced that it has closed the lead order of 2,000,000 units (the "Units") at a price of $0.14 per Unit from a European independent brokerage firm that is active in all the world's main stock markets. On August 27, 2018, the Company announced a 14,500,000-unit private placement (the "Private Placement") at a price of $0.14 per Unit.


Alliance Growers Corp. (ACG.C) has arranged a non-brokered private placement of up to 14.5 million units at a price of 14 cents per unit, for gross proceeds of up to $2.03-million.

Each Unit is comprised of one common share and one share purchase warrant. Each share purchase warrant will entitle the holder to acquire one additional common share in the capital of the Company at a price of $0.20 per share, for a period of three years from the date the Units are issued. The warrants are subject to an acceleration clause after the resale restrictions on the shares have expired. The expiry time of the warrants can be accelerated if the Company's shares trade at or above a weighted average trading price of $0.30 per share for 10 consecutive trading days. Finders fees may be payable on portions or all the financing, at the rate of up to 8% in cash and 4% in Units bearing the same terms at the Private Placement.

A portion of the Private Placement may be completed in accordance with the exemption set out in BC Instrument 45-534 (Exemption from prospectus requirement for certain trades to existing security holders) (the "Security Holder Exemption") pursuant to the terms and conditions of this Offering News Release and BC Instrument 45-534. Alliance Growers shall make the pro-rata offer available to all persons who, as of the record date of August 24, 2018, held common shares in the capital of the Company. In accordance with the requirements of the Security Holder Exemption, the Company confirms there is no material fact or material change related to the Company which has not been generally disclosed.

The Company plans to allocate the proceeds of the Private Placement primarily to the Biotech Complex for preliminary planning and development, plus development and construction costs associated with the BiocannaTech facility in Montreal, as well as general working capital. The financing is subject to regulatory approval. All securities issued pursuant to the placement will be subject to a hold period of four months and one day from the date of closing.

About Alliance Growers

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 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 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.