Allied To Buy Nevada Cultivation License For Cannabis And Psilocybin

Medical cannabis company Allied Corp. ALID is purchasing a registered cultivation license in Nevada.

The deal includes a GMP-complaint facility worth $3.5 million and a land lease for the installment of Allied 9000 square foot building.

On the sell side is Fiore Cannabis Ltd., which agreed to utilize its medical and retail channels to support the marketing and sale of products manufactured at the new facility.

The company, which has been constructing the building for 18 months, also has a space designed specifically for psilocybin production and research.

In December, Kelowna, British Columbia-based Allied announced a purchase agreement for psilocybin company Pacific Sun Fungi.

Allied also operates a Colombia-based farm through its subsidiary, MediColombias Cannabis S.A.S., a licensed producer of cannabis for medical, research, and industrial applications.

For over a year, the company was working on getting the green light to commercialize their products out of Colombia.

“The intended sale of this license and land lease signifies the beginning of a strong multi-state operational approach to the U.S. cannabis marketplace,” Allied CEO Calum Hughes said.

“With our large scale production footprint and commercial export licenses in Colombia producing low cost high quality product, as well as this cultivation and processing hub now located in one of the busiest tourism cities within the United States, we are set for the national volume demand that is coming,” he added.