Allegiance Equity Corporation announces collaboration with Canadian Dairy Commission and Guelph Food Technologies Corporation for Alzheimers and Dementia formulation GG-XT

    (TSX-V "ANQ")

    Canadian Dairy Commission funds formulation of two beverages with GG-XT
    at Guelph Food Technologies.

    TORONTO, June 23 /CNW/ - The Canadian Dairy Commission has funded the
formulation of two dairy beverages with GG-XT for Allegiance at Guelph Food
    Allegiance filed Canadian and International Patent Applications, and
Health Canada Natural Product Applications for GG-XT. GG-XT is a proprietary
compound of Panax Gensing and Gingko Giloba for the treatment and prevention
of Alzheimers and Dementia. GG-XT improves memory, cognitive function,
vitality of life and mental well-being.

    Recent Developments

    Biofrontera AG of Germany, listed on Frankfurt Stock Exchange (BBF) has
licensed Relieva and Psorberine from Prime Pharmaceutical Corporation (Prime).
Allegiance has a 37.5% equity interest in Prime as the controlling
    The licensing of Relieva and Psorberine for the treatment of Eczema and
Psoriasis to Biofrontera will rapidly develop product extentions and new
channels of commercialization globally when combined with Biofrontera's
revolutionary "nano-technology" treatment for acne, eczema, general irritation
and inflammation. The transaction in addition to an upfront fee valued at
approxiametely $175,000 in Biofrontera shares will augment revenues by a
minimum of $240,000 per annum payable against a 5% royalty on net sales.
    The strategic business association with Biofrontera AG is an important
extension of the impressive worldwide network of partners that Allegiance has
developed. This development includes major scientific, research and regulatory
organizations, including, world renowned scientists, researchers, universities
and suppliers. Allegiance continues to attract an impressive following based
on its ability to invent new proprietary treatments for widespread diseases
where existing drugs, research channels and OTC products fails to meet the
needs of patients. Allegiance has a unique ability for commercializing "peer
reviewed" scientific knowledge and abstracts; creating new treatments using
standardized pharmaceutical grade natural ingredients.
    Biofrontera's association is yet another value-enhancing development for
Allegiance and an addition to its existing and growing portfolio of
intellectual property that includes:
    CM-X is a proprietary compound for treating and preventing diabetes and
related cardiovascular conditions which reduces blood sugar, LDL cholesterol,
triglicerides and vascular inflammation. CM-X has been formulated into a wide
variety of every day foods and beverages such as Heart Chocolate-CM-X. The
sales of Heart Chocolate have exceeded expectations and Heart Chocolate is
featured in over 200 stores in Canada. For further information see
    ZX-HDL Formulation is to be developed in partnership with a leading
Canadian Cardiologist and Nutrasource Diagnostics Inc. to develop and test ZX
in fish oil and Omega Formulas to increase HDL Cholesterol levels.
    Allegiance's corporate development program of aggressive product
development and continuous sourcing of intellectual property augments its goal
of using natural ingredients to maximize profits and minimize risks; while
dramatically reducing safety risks for both users as well as investors in its

    Certain statements contained in this press release may be considered as
forward-looking. Such forward-looking statements are subject to risks and
uncertainties that could cause actual results to differ materially from
estimated or implied results. The TSX Venture Exchange has neither approved
nor disapproved the contents of this new release.

    The TSX Venture Exchange has not reviewed and does not accept

For further information:

For further information: on Allegiance Equity Corporation, contact David
Solomon, President, by telephone at (647) 271-7208 or
Visit our website at

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