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.
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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.
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