Alliance Growers Corp. (CSE: ACG.CN) (“Alliance Growers” or the “Company”) is pleased to announce that the Company has executed an agreement with an Israeli Medical Cannabis company that employs some of the world’s best medical cannabis growing experts, who have developed integrated growing solutions specifically for maximizing production of cannabis to produce consistent quality marijuana.
Alliance Growers has entered negotiations to acquire a 20% interest in this private Israeli company. The next step toward the execution of the final agreement will be a thorough due diligence by Alliance Growers. The agreement will include an off-take of pharmaceutical grade CBD oil for the global market.
Israel has been a pioneer in medical cannabis research and development for more than 50 years and the target company is a leader in the sector. Israel’s liberal approach to cannabis studies has given it a substantial head start over most countries when it comes to government approval for agricultural and clinical research. Alliance Grower’s will benefit greatly from this association.
Commenting on the strategic international investment, Dennis Petke, Alliance Growers” President and CEO, said, “The opportunity to collaborate and benefit from a company of this stature is fantastic for Alliance Growers. Thanks to the many financing options available to cannabis companies, such as the $10M equity facility, the Company will be able to execute on its business plan, including this important investment. Israel has become a leader in cannabis research and development and is a country that has fostered an environment where medical cannabis companies can thrive. Today’s progress continues Alliance Growers development as a global cannabis company positioning for the cannabis industry of the future.”
About Alliance Growers
Alliance Growers Corp (ACG: CSE; FWB: 1LA) 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 executed an agreement with Botanical Research In Motion International Inc., for a Canada Exclusive License 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.
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.