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ALLIANCE GROWERS ANNOUNCES LETTER OF INTENT WITH WFS PHARMAGREEN, INCLUDING SUBSIDIARY CANNA COMPANION


Tommy Chong,“The decision to work with Pharmagreen was simple, they are the best at what they do and they care about people and animals”.

http://www.alliancegrowers.com


http://www.pharmagreen.ca


https://cannacompanionusa.com/



Alliance Growers Corp. has signed a letter of intent with WFS Pharmagreen Inc. where it has previously been agreed that Pharmagreen will provide information about its business and its wholly owned subsidiary, Canna Companion Products Inc. 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 chief executive officer, 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 licence from Pharmagreen for the marketing, distribution and sales of all present and future tissue culture plantlet products utilizing the proprietary Chibafreen in vitro plant production system for the jurisdiction of Canada for a fee of $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 in vitro technology.

The execution of the formal licence 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 centre. Licensing opportunities for the botany centre for the United Kingdom and European Union are subject to further negotiations and terms.

Peter Wojcik, chief executive officer of Pharmagreen, stated: "We are very happy to be working with the Alliance Growers' team. They are a very professional group that will complement our organization, and they share our vision of where the industry is going and how to best to capitalize on this vision. When we received the endorsement of Tommy Chong, he said, 'The decision to work with Pharmagreen was simple; they are the best at what they do, and they care about people and animals.' This strategic partnership with Alliance Gowers adds tremendous value to our business going forward."

Subject to regulatory approval, Alliance Growers will use its best efforts to raise a minimum of $400,000 to a maximum of $500,000 on or before Aug. 31, 2016, by way of a private placement offering of common shares to pay the licence fee, and continue its due diligence in Pharmagreen and its subsidiaries.


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