Alphala Corp. Enters Into Letter of Intent With FV Pharma Inc.
June 16 2014 - 7:05PM
Alphala Corp. (OTCBB:ALPC) (the "Company") is pleased to announce
that it has entered into a Letter of Intent with FV Pharma Inc., a
private Ontario, Canada corporation ("FV Pharma"), and certain
shareholders of FV Pharma, to purchase all the Class B non-voting
shares of FV Pharma. FV Pharma is striving to establish a state of
the art medical marijuana production facility located in Cobourg,
Ontario, one (1) hour east of Toronto.
FV Pharma has applied to Health Canada to become a licensed
commercial producer of marijuana under the Government of Canada's
new Marihuana for Medical Purposes Regulations (the "MMPR"). The
company's application is in the personal security checks stage of
the process, and an in-depth review verification of the application
must still occur before Health Canada conducts a pre-license
inspection of its proposed facility. If successful, FV Pharma will
receive a license to produce marijuana for medical purposes. FV
Pharma is one of many companies seeking to start producing
marijuana on a commercial scale under the MMPR, which became
effective on April 1, 2014.
The Letter of Intent states that the Company will issue an
aggregate of 150,000,000 shares of its common stock to the holders
of FV Pharma's Class B shares upon the closing of the transaction,
which is expected to take the form of a share exchange. The
completion of the transaction is subject to standard due diligence
by both sides and the successful negotiation of a definitive
agreement.
The Company will release additional information regarding the
status of FV Pharma's application under the MMPR promptly upon the
receipt of any such information from Health Canada.
About Alphala Corp.
Alphala Corp. (OTCBB:ALPC) is a publicly traded company on the
OTC Bulletin Board and OTCQB markets.
For more information, visit: www.sec.gov or
www.otcmarkets.com.
Contact
Shaikh Munir Shami, President Tel: (416) 897 6324 | Email:
info@alphalacorp.com
About FV Pharma Inc.
FV Pharma has applied to become a licensed commercial producer
of marijuana under the new Canadian medical marijuana legislation.
The company was established in Ontario to supply an unmatched
selection of premium medical marijuana to eligible persons in order
to treat symptoms such as chronic pain, seizures, muscle spasms,
nausea and loss of appetite. FV Pharma is excited to be
transforming a part of the former Kraft food factory known as the
Cobourg Innovation Centre into a state-of-the-art licensed facility
for growing and harvesting medical marijuana. The company intends
to stimulate the local economy in Cobourg, Ontario as well as
maintain its commitment to environmentally friendly business
practices.
For more information, visit www.fvpharma.com.
Contact
Thomas Fairfull, President/CEO 413 Byron Street South Whitby,
Ontario, Canada L1N 4R2 Tel: (905) 686-7079 | Email:
info@fvpharma.com
Cautionary Language Concerning
Forward-Looking Statements
Statements in this press release may be "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Words such as "anticipate", "believe",
"estimate", "expect", "intend" and similar expressions, as they
relate to the Company or its management, identify forward-looking
statements. These statements are based on current expectations,
estimates and projections about the Company's business based, in
part, on assumptions made by management. These statements are not
guarantees of future performance and involve risks, uncertainties
and assumptions that are difficult to predict. Therefore, actual
outcomes and results may, and probably will, differ materially from
what is expressed or forecasted in such forward-looking statements
due to numerous factors, including those described above and those
risks discussed from time to time in the Company's filings with the
Securities and Exchange Commission. In addition, such statements
could be affected by risks and uncertainties related to the
Company's (i) product demand, market and customer acceptance of its
products, (ii) ability to obtain financing to expand its
operations, (iii) ability to attract qualified sales teams, (iv)
competition, pricing and development difficulties, (v) ability to
integrate FV Pharma into its operations as a reporting issuer with
the Securities and Exchange Commission, and (vi) general industry
and market conditions and growth rates and general economic
conditions. Any forward-looking statements speak only as of the
date on which they are made, and the Company does not undertake any
obligation to update any forward-looking statement to reflect
events or circumstances after the date of this release.
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