Alliance Growers (CSE:ACG) (“Alliance” or “the Company”) is pleased to announce that it has received approval from the OTC Markets Group to be listed on the OTCQB Venture Market as of November 27, 2018, under the OTCQB ticker symbol ALGWF.
Dennis Petke, CEO of Alliance Growers, stated: “We are pleased to be listed on the OTCQB, as this provides an opportunity to attract a broader base of US and international investors with a transparent trading platform that will help to maximize the Company’s share value for its shareholders. It is well known that a great number of US investors would like to invest in publicly traded Canadian cannabis stocks, such as Alliance Growers, but are unable to do so through their US brokers unless the Canadian company is dual listed in the US. Admission to the OTCQB exchange is part of our long-term strategy to introduce the company to a wide range of institutional and retail investors in the US. With the OTCQB dual listing Alliance is now able to access a new investor base that is ten times that of Canada. This times well with our current financing initiatives and expansion of our Canadian and international opportunities in the rapidly growing Cannabis sector.”
The OTCQB is recognized as an established public financial market and is a leading market for international companies including resource companies in the exploration and development stage. The OTCQB Venture Market offers companies the opportunity to build their visibility, expand their liquidity and diversify their shareholder base on an established, public market without the rigid procedures common with other US exchange listings. Their premium markets offer companies at all stages of development the right platform to create a transparent trading experience for their investors. The OTCQB Venture Market quality standards provide a strong baseline for transparency, as well as the technology and regulation to improve the information and trading experience for investors.
Qualifying for listing on the OTCQB is a significant stepping stone for Alliance Growers. While Alliance Growers currently trades on the Canadian Securities Exchange (CSE: ACG), its new secondary OTCQB listing provides better access to institutional investors and a broader shareholder base. The OTCQB provides solutions to better engage and inform US investors about Alliance Growers.
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. 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’s main facility is the Cannabis Biotech Centre which will grow Cannabis plantlets using proprietary tissue culture propagation, specifically utilizing the “Chibafreen Invitro Plant Production System”, which allows for more tissue cultured plantlets to be produced in less space and less time.
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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.