Market Overview

Allied Corp., a Medical Cannabis Company, Colombia Production Update and Seed Evaluation and Approval

Share:

Kelowna, British Columbia--(Newsfile Corp. - August 21, 2019) - Allied Corp. (OTC Pink: ALID) ("Allied") - an international medical cannabis company focused on creating and providing targeted cannabinoid health solutions, is pleased to announce:

  • ICA approval: Allied has successfully received the approval from ICA to begin the seed evaluation process - https://www.ica.gov.co/?lang=en-US
  • Successful registration of genetics: Allied has successfully registered twenty-four (24) varieties of strains positioned for production
  • Current state of licensing: a report regarding Allied licensing
  • The Allied land consideration: The Allied Colombian land mass and cultivation area description

"Building a venture for long-term success takes a purpose-built solid foundation. Our regulatory approval and production teams have proven themselves as being able to successfully gain the necessary approvals as a foundation to build upon. We are excited to continue to report our successes to our supporters and shareholders." says Calum Hughes, Founder and CEO. 

PRODUCTION
The seed evaluation process in Colombia is very lengthy and extensive. It takes up to five months of regulated field trials, including thorough data collection and analysis, prior to approval for registration for commercial cultivation. The process from beginning to completion can last several years. Allied Corp. has completed the regulatory process and received strain approval from the technical directorate of the ICA (Colombian Institute of Agriculture), representing a diverse range of chemotypes, with various ratios of CBD to THC. With this approval, our strains can then be registered for commercial production. The registration of these 24 strains, including our proprietary strains, is a very big milestone for Allied Corp. These approvals evidence the value of our proprietary stabilized seed bank and our capacity to meet local and global market needs easily. Allied has received the approval to begin the seed evaluation process with ICA. We are anticipating imminent approvals for non-psycho active seed evaluation planting. As well, Allied anticipates a near term approval for psycho-active seed planting.

LICENSING
Allied is also pleased to announce that it has acquired a full suite of licenses in Colombia. Two of the licenses enables Allied to produce cannabis and cannabis derivatives, grow non-psychoactive cannabis (<1% THC), and grow psychoactive cannabis (>1% THC). The third license that Allied has is the extraction and formulation license. This enables Allied to extract cannabinoids from dried flower. Allied is also awaiting final approval of their Canadian Production License from Health Canada. This license has been given the "confirmation of readiness" notice from Health Canada.

LAND
Allied has secured vast agricultural land extension in Ibagué, a key production farming region of Colombia. Ibague has the benefit of having 12 hours of sunlight year-round, temperatures oscillating between 20-30 degrees celsius, with constant humidity. This environment and situation ideal to growing cannabis at low cost. The land has an area of 1,400 hectares (about 3,450 acres), all with water rights, an electrical substation, and great paved access to the property.

Additional information about Allied Corp. can be found at www.allied.health.

On behalf of the Board,

Calum Hughes
Chief Executive Officer

About Allied Corp.
Allied Corp. is an international cannabis company with a mission to help people suffering from Post-Traumatic Stress Disorder (PTSD) by researching, creating and producing targeted cannabinoid health solutions. Allied Corp. uses an evidence-informed scientific approach to make this mission possible, through cutting-edge pharmaceutical research and development, innovative plant-based production and unique development of therapeutic products.

Media Contact:
allied@5wpr.com

Investor Relations:
Anthony Zelen
ir@allied.health
+1-778-388-5258

Forward-Looking Statements:
This news release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements relate to future events or future performance. Statements which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, outlook, expectations or intentions regarding the future including words or phrases such as "anticipate", "become", "objective", "may", "will", "might", "should", "could", "can", "intend", "expect", "believe", "estimate", "predict", "potential", "plan", "is designed to", "project", "continue", or similar expressions suggest future outcomes or the negative thereof or similar variations. Forward-looking statements may also include, among other things, any statements relating to helping veterans and first responders cope with PTSD, research and development, production and sale of cannabis and hemp products, acquisition of nano technology, projected costs of production, expectations regarding expenses, sales and operations, our growth strategy and product development, and any other statements that are not historical facts.

Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for our products; anticipated costs and ability to achieve goals; the Company's ability to complete any contemplated transactions; historical prices of cannabis and hemp; that there will be no regulation or law that will prevent the Company from operating its businesses; the state of the economy in general and capital markets in particular; present and future business strategies; the environment in which the Company will operate in the future; the estimated size of the cannabis market; and, other factors, many of which are beyond the control of the Company. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Although the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. Given these risks, uncertainties and assumptions, the reader should not place undue reliance on these forward-looking statements.

Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated include but are not limited to: risks related to our growth strategy; risks relating to the results of research and development activities; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; our dependence on third-party suppliers and partners; our ability to attract, integrate, and retain key personnel; our need for substantial additional funds; government regulation; intellectual property matters; competition; as well as other risks described in our SEC filings.

Important factors that could cause actual results to differ materially from the Company's expectations include, consumer sentiment towards the Company's products and cannabis generally; risks related to the Company's ability to maintain its licenses issued by governments in good standing; risks related to the costs required to meet the obligations related to regulatory compliance; risks related to the extensive control and regulations inherent in the industry in which the Company operates; risks related to governmental regulations, including those relating to taxes and other levies; risks related to an early stage business and a business involving an agricultural product and a regulated consumer product; risks related to building brand awareness in a new industry and market; risks relating to restrictions on sales and marketing activities imposed by governments; risks inherent in the agricultural business; risks relating to energy costs; risks relating to product liability claims, regulatory action and litigation; risks relating to recall or return of products; risks relating to insurance coverage; global economic climate; equipment and building failures; increase in operating costs; decrease in the price of cannabis; security threats; government regulations; loss of key employees and consultants; additional funding requirements; volatility in the securities of the Company; changes in laws; technology failures; failure to obtain permits and licenses; anticipated and unanticipated costs; competition; risks associated with the substantial obligations of being a public company; and, failure of counterparties to perform their contractual obligations. This list is not exhaustive of the factors that may affect the forward-looking statements. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking statements.

We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/47096

221>