Vancouver, British Columbia--(Newsfile Corp. - October 1, 2018) - Alliance Growers Corp. (CSE: ACG) (FWB: 1LA) (WKN: A2DFYX) (OTC: ALGWF) ("Alliance Growers" or the "Company") is pleased to announce that that its partner in the development of the Cannabis Biotech Complex, WFS Pharmagreen Inc. ("Pharmagreen"), received final board approval from the regional government to apply for the development permit for its Cannabis Biotech Tissue Culture Complex project. It was approved by way of the following resolution which was passed by the Fraser Valley Regional District Board on September 25th meeting:
"THAT the Fraser Valley Regional District Board approve the proposed Site-Specific Exemption to permit construction outside the Dewdney Dyke at 38482 Bell Rd be approved for a medical marijuana facility, as outlined in the Stirling Geoscience and Northwest Hydraulic Consultants geo-hazard reports dated May 15, 2018 and August 10, 2018"
Commenting on the stamp of approval from the regional government for the Cannabis Biotech Complex, Dennis Petke, President and CEO, stated, "Both Alliance and Pharmagreen have worked diligently together for the last two years to educate the cannabis investing community and others in the cannabis space as to the benefits and significance of starting new crops with tissue cultured plantlets to ensure consistency and quality of cannabis strains for medical purposes. The benefits are also clearly evident for "adult use" cannabis as it gives users confidence that the end-product is "as advertised". We are very pleased that the project has advanced through this approval process to complete another very significant milestone for the Company and its shareholders. This approval allows us to move forward to permit application and finalization of the design and engineering plans, as we move forward to starting our next stage which is land site preparation. We are extremely pleased to be moving both of the two most significant Alliance projects forward, thus increasing shareholder value."
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 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.
Through its wholly owned subsidiary, BioCannaTech Alliance is in the final expedited phase of Health Canada's "Access to Cannabis for Medical Purposes Regulations" (ACMPR) approval for the production and sales of Medical Marijuana. BioCannaTech Inc. has a leased a 10,000 square foot facility in Mont-Royal, Québec with permits in place from the municipality to renovate the facility. Initial expansion plans include an adjacent 17,000 square foot facility, comprised of 15,000 square feet of growing space, and 2,000 square feet of existing offices and a full loading/shipping dock.
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.
