Alphala Corp. Enters Into Letter of Intent With FV Pharma Inc.
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
