ALQ to Partner With Dan Bilzerian on Cannabis Brands
December 21 2017 - 2:52PM
ALQ Gold Corp. (CSE:ALQ) (“
ALQ” or the
“
Company”) is pleased to announce the following
developments:
- the Company has entered into a binding letter of intent with
Vulcan Enterprises Ltd. (“Vulcan”) to acquire certain intellectual
property rights for use of the name, approved photographs, approved
images, voice, and approved likenesses of Dan Bilzerian exclusively
within the cannabis industry worldwide (collectively,
“Licensed IP”);
- the Company has completed its second investment, being the
acquisition of 100,000 units in the capital of Salvation Botanicals
Ltd. (“Salvation”) for $500,000;
- the Company has arranged a non-brokered private placement to
raise up to $10,000,000 through the distribution of 10 million
units of the Company at a price of $1.00 per unit. Each unit
will comprise one common share (“Shares”) and one-half of one share
purchase warrant (“Warrants”), each whole Warrant entitling the
holder to acquire one additional Share at $2.50 for a period of 12
months; and
- the Company intends to change its name to Green Axis Capital
Corp. and become an investment company focusing on opportunities in
the global cannabis sector.
About Vulcan Enterprises
Ltd.
Vulcan is the exclusive owner of the Licensed
IP, which includes the cannabis brand logos or related marks,
including “Burn by Bilzerian” and “Ignite by Bilzerian”. ALQ
and Vulcan have agreed to the following:
- ALQ will receive initially a limited license to utilize the
Licensed IP for its use in the Canadian cannabis industry, in
exchange for ALQ issuing 5,000,000 shares to Vulcan;
- Vulcan will assist with ALQ’s utilization of the Licensed IP
through personal appearance by Dan Bilzerian and utilization of Dan
Bilzerian’s social media accounts; and
- ALQ will retain the exclusive option to acquire additional
global and exclusive rights to Vulcan’s Licensed IP for additional
consideration.
Closing of the above transactions is conditional
upon closing of an equity financing by ALQ of at least $10,000,000
(see item 3 above for details of the proposed financing).
About Salvation Botanicals
Ltd.
Salvation is a private British Columbia company
based in Nanaimo, which is involved in the production of high
quality standardized cannabinoid products for Licensed Producers
(LP’s), and operates one of the first analytics laboratories in
Canada, accredited by Health Canada to test cannabis and
derivatives for LP’s, Access to Cannabis for Medical Purposes
Regulations (ACMPR) growers, approved cannabis patients, Section 56
License holders, industrial hemp producers, and any other party
legally entitled to possess cannabis.
Salvation holds a Narcotic Dealer’s Licence,
allowing contract extract production, with authority to extract and
produce oil, capsules and tinctures within Health Canada
guidelines. In 2016 Health Canada granted Salvation a Hemp
Processing License (HPL) permitting production and sale of seed
& grain derivatives. Using the name “Purely Hemp”
Salvation has developed a line of value-added foods including Hemp
Protein Powder, Hulled Hemp Seeds, Protein Bars, Hemp Butter,
Capsules (Oil, Protein Powder) and Cold-Pressed Hemp Oil while
building exports of value-added bulk hemp products.
It is planned that Salvation will produce
certain products on behalf of Vulcan and ALQ to bring Dan
Bilzerian’s brands to market in Canada in time for the launch of
recreational sales and other global jurisdictions that have legal
medical marijuana legislation and suitable import laws.
ON BEHALF OF THE BOARD
“Morgan Good”Chief Executive
OfficerTel: 604-715-4751Email: morgan@dukecapitalinc.com
Investor Contact:Keir ReynoldsDuke
CapitalTel: 778-998-9242Email: keir@dukecapitalinc.com
The Canadian Securities Exchange has not
reviewed and does not accept responsibility for the adequacy or
accuracy of this release.
CAUTIONARY STATEMENT REGARDING
FORWARD-LOOKING INFORMATION: This news release includes
certain “forward-looking statements” under applicable Canadian
securities legislation. Forward-looking statements include,
but are not limited to, statements with respect to: the terms and
conditions of the proposed transaction; the terms and conditions of
the proposed private placement; use of funds; and the business and
operations of the Company after the proposed change of
business. Forward-looking statements are necessarily based
upon a number of estimates and assumptions that, while considered
reasonable, are subject to known and unknown risks, uncertainties,
and other factors which may cause the actual results and future
events to differ materially from those expressed or implied by such
forward-looking statements. Such factors include, but are not
limited to: general business, economic, competitive, political and
social uncertainties; delay or failure to receive board,
shareholder or regulatory approvals; and the uncertainties
surrounding the cannabis industry in North America. There can
be no assurance that such statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements. ALQ
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
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