ALLIANCE GROWERS IN TALKS TO DEVELOP EXTRACTION FACILITY

May 24, 2019 – Vancouver, BC – Alliance Growers Corp. (CSE: ACG; FWB:1LA; OTCQB: ALGWF) (“Alliance Growers” or “the Company) is pleased to report that management is in advanced discussions to jointly develop a hemp CBD extraction and distillation facility in Phase One of the Mont Royal properties. Obtaining licensing with hemp, is expected to be a much faster process than a cannabis cultivation license.

Development and distribution of CBD for medical and recreational purposes is an important part of the Company’s business plan. Alliance has multiple distribution options, one significant option being via joint ventures through privately owned pharmacies in BC and Alberta.

Commenting on development of the extraction facility, Dennis Petke, President and CEO of Alliance Growers stated, “The landscape regarding Canadian cannabis investors has evolved over the last few months, whereby investors are looking beyond companies that are primarily involved in cannabis cultivation. Alliance is working to demonstrate to investors that we are a diversified global medical cannabis company, and not merely a cultivation company. While we await completion of the Cannabis Biotech Tissue Culture Facility utilizing the proprietary “Chibafreen Invitro Plant Production System”, jointly developing an extraction facility in Quebec in an existing building will get Alliance to sales within a few months, rather than a year or more. Management continues to work diligently to create 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.”

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.

For further information, please visit the Company’s website at www.alliancegrowers.com or the Company’s profile at www.sedar.com.

If you would like to be added to Alliance Growers’ news distribution list, please send your email address to newsletter@alliancegrowers.com.

 

For more information contact:

Dennis Petke

CEO, President and Director

Tel:  778-331-4266

DennisPetke@alliancegrowers.com

 

Rob Grace

Communications Consultant

Tel:  778-998-5431

RobDGrace@gmail.com

 

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THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE

 

FORWARD LOOKING INFORMATION

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. More particularly and without limitation, the news release contains forward-looking statements and information relating to Company’s corporate strategy. The forward-looking statements and information are based on certain key expectations and assumptions made by management of the Company, including, without limitation, the Company’s ability to carry out its business plan. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information since no assurance can be given that they will prove to be correct.

Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the Company’s ability to identify and complete additional suitable acquisitions to further the Company’s growth as well as risks associated with the medical marijuana industry in general, such as operational risks in development and production delays or changes in plans with respect to development projects or capital expenditures; the uncertainty of the capital markets; the uncertainty of receiving the required licenses, production, costs and expenses; health, safety and environmental risks; marketing and transportation; loss of markets; environmental risks; competition; incorrect assessment of the value of the potential market; ability to access sufficient capital from internal and external sources; failure to obtain required regulatory and other approvals and changes in legislation, including but not limited to tax laws and regulated regulations. Accordingly, readers should not place undue reliance on the forward-looking statements, timelines and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive.

The forward-looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the Canadian Securities Exchange. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.

 

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