News Release
ALLIANCE GROWERS CLOSES $833,849.83 PRIVATE PLACEMENT
December 18, 2017 – Vancouver, B.C. – Alliance Growers Corp. (CSE: ACG / FWB: 1LA / WKN: A2DFYX) (“Alliance” or “the Company”) is pleased to announce that its private placement originally announced November 20, 2017 has closed. The Company raised $833,849.83 for the issuance of 7,580,453 Units at a price of $0.11 per Unit. Each Unit is comprised of one common share and one common share purchase warrant. Each common share purchase warrant will entitle the holder to acquire one additional common share in the capital of the Company at a price of $0.21 per share, for a period of two years from the date the Units are issued. The warrants are subject to an acceleration clause after the resale restrictions on the shares have expired. The expiry time of the warrants can be accelerated if the Company’s shares trade at or above a weighted average trading price of $0.30 per share for 10 consecutive trading days. All securities issued pursuant to the placement will be subject to a hold period of four months and one day from the date of closing.
The proceeds from this financing will be allocated primarily to the Botany Centre for property acquisition and preliminary planning and development, plus finalization of agreements in other potentially lucrative arrangements in the medical and recreational cannabis space, as well as general working capital.
Commenting on the financing, Dennis Petke, Alliance Growers’ President and CEO said, “We are very pleased with the strong response to this recent financing. The Company expects to undertake further private placements over the next several months to fund its business plan. We are quite anxious to secure the permits for the Cannabis Botany Centre, not only to initiate our application for the ACMPR, but to begin the planning stage of the development. We would like to thank our shareholders for their continued support as we work towards realizing our vision of becoming a successful global cannabis company”.
THIS NEWS RELEASE, PROVIDED PURSUANT TO APPLICABLE CANADIAN REQUIREMENTS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS ABSENT REGISTRATION OR APPLICABLE EXEMPTION FROM REGISTRATION REQUIREMENTS.
About Alliance Growers
Alliance Growers Corp 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 is finalizing a new business partnership with Botanical Research In Motion Inc., 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. For further information, please visit the Company’s corporate website at www.alliancegrowers.com or the Company’s profile at www.sedar.com. If you would like to be added to Alliance Growers’ news distribution list, please send your email address to newsletter@alliancegrowers.com.
For more information contact:
Dennis Petke, President and CEO, Tel: 778-331-4266, Email: DennisPetke@alliancegrowers.com
Rob Grace, Corporate Communications, Tel: 778-998-5431, Email: RobDGrace@gmail.com
THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.
