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Alliance Growers Announces Letter of Intent with WFS Pharmagreen, Including Subsidiary Canna Companion
DGAP-News: Alliance Growers Corp. / Key word(s): Miscellaneous
Alliance Growers Announces Letter of Intent with WFS Pharmagreen, Including
Subsidiary Canna Companion
30.06.2016 / 17:04
The issuer is solely responsible for the content of this announcement.
Alliance Growers Announces Letter of Intent with WFS Pharmagreen, Including
Subsidiary Canna Companion
30.06.2016 / 17:04
The issuer is solely responsible for the content of this announcement.
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Vancouver, British Columbia--(Newsfile Corp. - June 30, 2016) - Alliance
Growers Corp. (CSE: ACG) ('Alliance Growers' or the 'Company') is pleased
to announce it has signed a Letter of Intent with WFS Pharmagreen Inc.
('Pharmagreen') where it has previously been agreed that Pharmagreen will
provide information about its business and its wholly owned subsidiary,
Canna Companion Products Inc. ('Canna'). Alliance Growers proposes to work
with and investigate possible joint business interests and opportunities
with Pharmagreen and Canna, including a potential full merger of
Pharmagreen and Alliance Growers, subject to extensive due diligence and
analysis.
Commenting on the acquisition, Dennis Petke, Alliance Growers President and
CEO said, 'We are absolutely thrilled to have entered into an LOI with
Pharmagreen. This presents an opportunity for Alliance Growers to rapidly
build out our 'Four Pillars' Business Divisions ahead of schedule. This
will definitely provide almost immediate value for Alliance Growers
shareholders.'
The initial step is a proposal to obtain an exclusive license from
Pharmagreen for the marketing, distribution and sales of all present and
future Tissue Culture plantlet products utilizing the proprietary
'Chibafreen Invitro Plant Production System' for the jurisdiction of
Canada, for a fee of CAD$400,000. Consistent quality for mass production
for the agriculture and marijuana industry stems from disease-free,
genetically identical, healthy starting plant material that can only be
truly achieved through Chibafreen Invitro technology.
The execution of the formal license agreement shall be on or before the
closing of the Financing referred to below. Additionally both parties agree
to possible further development of a 'Full Spectrum DNA Botany Lab', which
would be the only such lab facility in Western Canada. A unique blend of
clean room lab facilities including a botanical oils extraction lab would
be built under the heading of 'Botany Center'. Licensing opportunities for
the 'Botany Center' for the UK and European Union are subject to further
negotiations and terms.
Peter Wojcik, CEO of Pharmagreen, stated, 'We are very happy to be working
with the Alliance Growers' team. They are a very professional group that
Vancouver, British Columbia--(Newsfile Corp. - June 30, 2016) - Alliance
Growers Corp. (CSE: ACG) ('Alliance Growers' or the 'Company') is pleased
to announce it has signed a Letter of Intent with WFS Pharmagreen Inc.
('Pharmagreen') where it has previously been agreed that Pharmagreen will
provide information about its business and its wholly owned subsidiary,
Canna Companion Products Inc. ('Canna'). Alliance Growers proposes to work
with and investigate possible joint business interests and opportunities
with Pharmagreen and Canna, including a potential full merger of
Pharmagreen and Alliance Growers, subject to extensive due diligence and
analysis.
Commenting on the acquisition, Dennis Petke, Alliance Growers President and
CEO said, 'We are absolutely thrilled to have entered into an LOI with
Pharmagreen. This presents an opportunity for Alliance Growers to rapidly
build out our 'Four Pillars' Business Divisions ahead of schedule. This
will definitely provide almost immediate value for Alliance Growers
shareholders.'
The initial step is a proposal to obtain an exclusive license from
Pharmagreen for the marketing, distribution and sales of all present and
future Tissue Culture plantlet products utilizing the proprietary
'Chibafreen Invitro Plant Production System' for the jurisdiction of
Canada, for a fee of CAD$400,000. Consistent quality for mass production
for the agriculture and marijuana industry stems from disease-free,
genetically identical, healthy starting plant material that can only be
truly achieved through Chibafreen Invitro technology.
The execution of the formal license agreement shall be on or before the
closing of the Financing referred to below. Additionally both parties agree
to possible further development of a 'Full Spectrum DNA Botany Lab', which
would be the only such lab facility in Western Canada. A unique blend of
clean room lab facilities including a botanical oils extraction lab would
be built under the heading of 'Botany Center'. Licensing opportunities for
the 'Botany Center' for the UK and European Union are subject to further
negotiations and terms.
Peter Wojcik, CEO of Pharmagreen, stated, 'We are very happy to be working
with the Alliance Growers' team. They are a very professional group that
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