Alliance Growers Corp (CSE:ACG) is pleased to report several key advancements for the Cannabis Botany Centre.
Alliance Growers Corp (CSE:ACG) is pleased to report several key advancements for the Cannabis Botany Centre. In a news release dated December 30, 2017, Alliance Growers announced that it has entered into a binding Letter of Intent (“LOI”) with WFS Pharmagreen Inc. (“Pharmagreen”), and the execution of this LOI initiated the development of the Cannabis Botany Centre that Alliance and Pharmagreen have been working on for the past year.
Alliance Growers and Pharmagreen are pleased to report the following key notable advancements:
- Design upgrades of the facility have been completed to include the increased handling of 10 Million plantlets per year from previous annual capacity of 3 Million
- Included in the design upgrades are state-of-the-art semi automation processes to ensure consistent and high-quality production of plantlets for an ever-growing demand as the number and size of cannabis production facilities keeps expanding
- The Cannabis Botany Center and its services offered are high value-added products and services for both the domestic and international cannabis industry.
- Annual gross revenue from the tissue culture operations are expected to be $50 Million per year with 10 million plantlets produced and sold at $5 per plantlet.
Commenting on the advancements and progress at the Cannabis Botany Centre, Alliance Growers President and CEO, Dennis Petke stated, “The 30 percent ownership in the Botany Centre is the first of many sustainable and high margin revenue streams for the company in the next 12 to 14 months. We all know, the medical cannabis space is here to stay, and Alliance will be one of the few medical cannabis companies that will continue to grow in value and revenue year-after-year due to its diversified global business model. I am especially pleased with the relationships that Alliance has built over the last year thanks to various members of the team. We have financing commitments in place to ensure we can execute on each phase of each project when required. In a volatile market, those commitments are critical”.
Alliance Growers is also pleased to report that due diligence on the strategic investment in a private licensed Jamaican cannabis company is near completion. This investment is another step in the Alliance model to be a global medial cannabis company being developed for where the market is going, not where it is now. The investment in the Jamaican company was previously reported in a news release on February 27, 2018.
About Alliance Growers
Alliance Growers is a diversified cannabis company driven by the Company’s ‘Four Pillars’ Organization Plan – Cannabis Botany Centre, Strategic ACMPR Investments, CBD Oil Supply and Distribution, and Research and Development.
Alliance Growers has finalized its a new business partnership with WFS Pharmagreen Inc., 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.
Alliance Growers has entered into an exclusive agreement to acquire a late stage licensed producer applicant, Biocannatech, to become a licensed producer under Health Canada’s access to cannabis for medical purposes regulations (“ACMPR”) in Quebec. Alliance Growers will supply financing and resources to build out the medical marijuana facility in preparation for the inspection required to obtain a growing license. Once Health Canada is satisfied with a successful crop, Alliance Growers will be granted its distribution license. This acquisition allows the Company an opportunity to become a licensed producer in the Province of Quebec and gain an in-road to provide tissue culture plantlets to all licensed producers in Quebec.
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.
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On behalf of the board of directors of
ALLIANCE GROWERS CORP.
President and CEO
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