Alliance Growers Corp. (CSE:ACG; FWB:1LA) has closed the first tranche of instalment of its subscription for common shares in New Maple Holdings Ltd., the parent company of Canwe Growers Inc.
Canwe is an Ontario-based company preparing to apply for a producer’s license under the Access to Cannabis for Medical Purposes Regulations (the “ACMPR”). Canwe has access to a 22 acre property 1.5 hours north-west of Toronto, where it plans to build a facility focused on producing clean, premium quality cannabis. Canwe has amassed a stellar team which includes licensed producer MedReleaf Corp.’s former Head Grower and his number two aide, both of whom are expert cannabis growers who intimately know the cannabis cultivation cycle from seed to sale. With Alliance Growers’ four-pillar strategy and Canwe’s experienced team, the two companies plan to work together to form business synergies with the goal of creating a strong presence in Canada’s fast-growing medical cannabis space.
Alliance Growers has subscribed for a total of 375,000 common shares of New Maple at a cost of $1.00 per share, which would represent approximately 5% of the outstanding shares of New Maple if the subscription was filled in its entirety today. Alliance Growers acquired an initial common share of New Maple upon incorporation and has acquired an additional 25,000 common shares for $25,000. Alliance Growers is expected to fulfil its commitment to acquire the remaining 350,000 shares by April 30, 2017 for an additional $350,000, failing which New Maple can repurchase all of its shares from Alliance Growers at the original issuance price. The funds are expected to be used by Canwe to prepare its application for a producer’s license in accordance with the ACMPR.
In conjunction with the investment, New Maple and Alliance Growers have entered into a non-binding letter of intent for the negotiation of a business arrangement for the purchase and sale between the parties of live cannabis plants, tissue culture plantlets and other cannabis products and services subject to applicable law and the availability of products between the parties. Alliance Growers will not be able to acquire any such products from Canwe unless Canwe obtains its producer’s license from Health Canada and agrees to enter into a business arrangement with Alliance Growers.
Commenting on the investment in New Maple/Canwe, Dennis Petke, Alliance Growers’ President and CEO said, “I am pleased that we have initiated an investment with such an experienced group applying to become a licensed producer applicant in Ontario. This relationship is expected to provide synergies and mutual opportunities for going forward for developing business arrangements concerning the purchase and sale between the parties of live cannabis plants and other cannabis products”.
Read the full company profile.
About Alliance Growers
Alliance Growers Corp is a diversified cannabis company driven by the Company’s ‘Four Pillars’ Organization Plan – Cannabis Botany Centre, Strategic MMPR Investments, CBD Oil Supply and Distribution, and Research and Development.
Alliance Growers has executed an agreement with Botanical Research In Motion International Inc., for a Canada Exclusive License 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. The proposed Cannabis Botany Centre 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.
Further, Alliance Growers has been negotiating to obtain other exclusive Canadian distribution agreements for certain proprietary products for support of the Cannabis growing industry in addition to possible partnerships with Licensed Producer Applicants at various stages in the Health Canada License process.
Connect with Alliance Growers Corp. (CSE:ACG; FWB:1LA) to receive an Investor Presentation.

Codebase Ventures Inc. (“Codebase” or the “Company”) (CSE:CODE)(FSE:C5B)(OTCQB:BKLLF) announces it has completed a first closing of a non-brokered private placement of up to $2,000,000. The Company accepted subscriptions for 13,740,000 units at a price of $0.05 per unit, for gross proceeds of $687,000. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at $0.075 for a period of two years from the date of closing, subject to the option of the Company to accelerate the expiry date in the event that its shares trade at $0.15 or more for 10 consecutive days

The Company paid $18,000 in cash and issued 160,000 warrants on the same terms as noted above to qualified finders. Securities issued pursuant to this tranche are subject to trading restrictions until April 5, 2021. The Company is expecting to complete the financing by December 16, 2020. Proceeds will be used for working capital and to fund future investments.

Keep reading... Show less

Hill Street Beverage Company Inc. (TSXV: BEER) (“Hill Street” or the “Company”), announces that further to its press release dated December 3, 2020, the TSX Venture Exchange has approved the repricing of 19,405,804 warrants of the Company that were originally issued on July 27, 2018, to $0.10. These warrants are set to expire on December 31, 2020.

For anybody wishing to exercise these Warrants, please contact the Chief Executive Officer, Terry Donnelly at the particulars below.

Keep reading... Show less

Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest comments and insights from leaders at: Tilray, Inc. (NASDAQ: TLRY), Icanic Brands (OTC: ICNAF) (CSE: ICAN), Aurora Cannabis (NYSE: ACB) (TSX: ACB), and HEXO Corp. (NYSE: HEXO)

Cannabis leaders are focusing on innovation in premium branding, global expansion, and tight operational execution in the drive towards profitability. Wall Street Reporter highlights the latest comments from industry thought leaders:

Keep reading... Show less

TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) (“TransCanna” or the “Company”) is pleased to announce that it has closed the 2nd and final tranche of its Unit financing. In connection with the closing, the Company issued 1,356,873 Units at a price of $0.55 per Unit, for gross proceeds of $746,280.15. Each Unit consists of one (1) common share and one (1) warrant. Each warrant entitles the holder to purchase one common share of the Company, at an exercise price of $0.75 per share, for a period of two years from the date of issuance. The warrants are subject to an acceleration right that allows the Company to give notice of an earlier expiry date if the Company’s share price on the CSE (or such other stock exchange the Company’s shares may be trading on) is equal to or greater than $1.25 for a period of 20 consecutive trading days. Finder’s fees of $42,542, 3,200 Finder’s shares and 80,550 Finder’s warrants were issued in connection with finder’s fees payable.

In total, the Company raised gross proceeds of $1,757,180 and issued 3,194,873 Units.

Keep reading... Show less

 Sweet Earth Holdings Corp. (CSE: SE) (FSE: 1KZ1) (OTCQB: SEHCF) (“Sweet Earth” the “Company”) is pleased to announce that it has received full Depository Trust Company (“DTC”) eligibility in the United States. On October 20, 2020, Sweet Earth announced that its shares had been listed on the United States’ Over-The-Counter Bulletin (“OTCQB”) under the ticker SEHCF.

DTC status means that Sweet Earth shares are now eligible to be transferred between brokerage accounts within the United States and significantly augments the ease in which American-based investors are able to trade Sweet Earth shares.

Keep reading... Show less