Canadian CANNAINVESTOR Magazine April / May 2018 | Page 121

Siddharth Rajeev, B.Tech, MBA, CFA
Anthony de Ruijter, BA. Econ
February 8, 2018
Alliance Growers Corp. (CSE: ACG) – Binding LOI for Cannabis Botany Centre / Acquisition of
Quebec Cannabis Grower
Sector/Industry: Cannabis
www.alliancegrowers.com
Market Data (as of February 8, 2018)
Current Price
C$0.58
Fair Value
$0.88
Rating*
BUY
Risk*
5
52 Week Range
C$0.08 - C$1.39
Shares O/S
57,990,309
Market Cap
C$33.63 mm
Current Yield
N/A
P/E (forward)
N/A
P/B
202.14
YoY Return
262.50%
YoY TSXV
-0.38%
Highlights
 Alliance Grower’s Corp.’s (“company”, “Alliance”) share price
has moved significantly since our initiating report, rising 480% to
$0.58 per share.
 The company has signed a binding Letter of Intent (“LOI”) with
WFS Pharmagreen, their partner in the cannabis botany centre
project. This is a significant development that reinforces our belief
in the company’s ability to execute their business plan.
 Alliance announced their intention to acquire Biotech Canna, a
Quebec-based, late-stage, ACMPR applicant. This expands their
portfolio of cannabis cultivator investments.
 We are revising our fair value estimate from $0.30 to $0.88 per
share.
*see back of report for rating and risk definitions.
* All figures in C$ unless otherwise specified.
Key Financial Data (FYE - Aug 31)
(C$)
Cash
Working Capital
Debt
Total Assets
Net Income (Loss)
2016
$1,207
-$137,949
$0
$194,299
-$278,454
2017
$12,667
-$36,110
$0
$489,229
-$1,830,057
2018-Q1
$108,977
$761,590
$0
$1,284,257
-$237,033

 2018 Fundamental Research Corp.
“10+ Years of Bringing Undiscovered Investment Opportunities to the Forefront”
www.researchfrc.com
PLEASE READ THE IMPORTANT DISCLOSURES AT THE BACK OF THIS REPORT