Allied sells its first Colombian crop and begins to rapidly expand Colombian production

0



Receive instant alerts when stock news is available Claim your free one-week trial for StreetInsider Premium here.


KELOWNA, British Columbia, May 11, 2021 (GLOBE NEWSWIRE) – Allied Corp. (“Allied” or the “Company”) (OTCQB: ALID), an international medical company focused on creating and delivering health solutions to solve today’s medical mental health challenges, is pleased to announce that it has exhausted its first crop production inventory.

Demand for Allied’s high-quality product exceeded Allied’s initial supply. In response to this, Allied is rapidly increasing production in Colombia.

Allied has signed the final purchase order from an international buyer who is completing the sale of the last volume of production from Allied’s initial crop. This news follows Allied’s approvals to be able to market its production as well as export approvals to two very large international markets. This positive market response has enabled Allied to accelerate its business plan.

Scaling up the Colombian production center

Allied has now prepared the grow site and the infrastructure required to be able to operate the current site at full capacity. Allied intends to expand it further to include the additional land surrounding its current location. Due to the benefits of the equatorial climate, Allied has adopted a weekly harvest schedule. This presents a reliable and constant supply at national level volumes. With current export approvals, Allied can supply domestic quantities to wholesale buyers in several international markets.

“As in any healthy market, a good quality product changes very quickly. We have made every effort not to expand too quickly, but rather to match our supply to market demand. In light of this, we have invested resources to increase the production footprint in Colombia. So far 2021 has been an exciting year for Allied, to say the least. said Calum Hughes, CEO of Allied.

About Allied Corp. – https://allied.health/

Allied Corp. is an international healthcare company whose mission is to solve today’s medical problems by researching, creating and producing targeted healthcare solutions. Allied Corp. uses an evidence-based scientific approach to make this mission possible, through cutting-edge pharmaceutical research and development, innovative development of herbal and mushroom therapeutics.

Investor Relations:[email protected]

Forward-looking statements:This press release contains “forward-looking information” within the meaning of applicable securities laws in Canada or “forward-looking statements” made in accordance with the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 (collectively, ” forward-looking information ”). Forward-looking information may relate to the future prospects of the company and to events, plans or expected results, and may include information regarding the objectives, goals, strategies, future income or performance and capital expenditures of the company, as well as other information that is not historical information. Forward-looking information can often be identified by the use of terms such as “believe”, “anticipate”, “plan”, “anticipate”, “pending”, “in progress”, “intend”, “estimate”. “,” Project “,” “May”, “will”, “should”, “would”, “could”, “may”, their negatives, variations and similar expressions. The forward-looking information contained in this press release is based on the opinions, estimates and assumptions of the company in light of management’s experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that management currently considers appropriate and reasonable in the circumstances. Forward-looking statements contained in this press release include the following: that Allied is leveraging the conditions of its growth operation in Colombia and its future location in Kelowna to support its research and development efforts; that Allied is making significant progress to position itself as a leader in medical cannabis, that Allied intends to file a series of proposed trademark and other intellectual property protection filings , as part of the Company’s Intellectual Property and Pharmaceutical Development (IP&PD) strategy, statements regarding the joint development, manufacture and introduction of TACTICAL RELIEF ™ brand products, and the use of TACTICAL RELIEF ™ brand products. offer of convertible notes.

There can be no assurance that the opinions, estimates and underlying assumptions will prove to be correct. Risk factors that could cause actual results to differ materially from the forward-looking information contained in this press release include: the Company’s exposure to legal and regulatory risks; the effect of the legalization of adult cannabis in Canada and Colombia on the medical cannabis industry is unknown and could have a material and negative impact on the company’s medical cannabis business; that the medical benefits, viability, safety, efficacy, dosage and social acceptance of cannabis are not currently expected; that adverse changes or developments affecting the principal or planned facilities of the company may have an adverse effect on the company; that the medical cannabis industry and market may not continue to exist or develop as expected or that the Company may not be able to succeed in this market; risks related to the completion of greenhouse construction in Colombia; risks related to market competition; risks associated with the proposed adult cannabis industry and market in Canada and Colombia, including the Company’s ability to enter or compete in these markets; that the Company has a limited operating history and a history of net losses and may not achieve or maintain profitability in the future; risks related to the Company’s current or planned international activities; risks associated with future strategic alliances of third parties or the expansion of currently existing relationships with third parties; that the Company may not be able to identify and successfully execute future acquisitions or divestitures or to successfully manage the impacts of such transactions on its activities; the risks inherent in operating a farming business; that the company may not be able to attract, develop and retain key personnel; risks resulting from significant disruptions in society’s access to certain key inputs such as raw materials, electricity, water and other utilities; that the Company may not be able to transport its cannabis products to patients in a safe and efficient manner; risks associated with recalls of the Company’s cannabis products or product liability or regulatory claims or actions relating to the Company’s cannabis products; risks associated with the company’s dependence on pharmaceutical distributors; that the Company, or the cannabis industry more generally, may receive unfavorable publicity or become subject to negative perception by consumers or investors; whereas certain events or developments in the cannabis industry more generally may affect the reputation of the Company or its relationships with customers or suppliers; that the Company may not be able to obtain adequate insurance coverage with respect to the risks it faces, that the premiums for such insurance may not continue to be commercially justifiable, or that it may there are coverage limitations and other exclusions that may result in such insurance not being sufficient; that the Company may be subject to liability arising from fraudulent or illegal activities of its employees, subcontractors, consultants and others; that the Company may suffer breaches of security at its facilities or losses as a result of the theft of its products; risks related to the company’s IT systems; that the company may be unable to support the growth and development of its revenues; that the Company may not be able to expand its operations quickly enough to meet demand or manage its operations beyond their current scale; that the Company may not be able to obtain adequate or reliable sources of the necessary financing; risks associated with or associated with the company’s exposure to reporting requirements; risks related to conflicts of interest; risks associated with fluctuations in foreign currency exchange rates; risks associated with the Company’s potential exposure to higher than expected tax liabilities; risks related to the protection and enforcement of the Company’s intellectual property rights or the intellectual property that it licenses to third parties; that the Company may be the subject of allegations that it or its licensors are infringing the intellectual property rights of third parties; that the Company may not take full advantage of the clinical trials or studies in which it participates; that the Company may not take full advantage of its licenses if the licensed material is less attractive than expected in the market and the licenses may not be profitable; as well as all other risks that can be described in more detail and risk factors discussed in the Company’s continuous disclosure, including the sections on the MD&A of its quarterly reports on form 10-Q, annual reports on form 10-K and current reports on Form 8-K filed under the company profile at www.sec.gov.

Although management has attempted to identify material risk factors that could cause actual results to differ materially from those contained in the forward-looking information in this presentation, there may be other risk factors which are not currently known to the Company or that the Company currently believes does not include items that could also cause actual results or future events to differ materially from those expressed in such forward-looking information in this presentation. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers and viewers should not place undue reliance on forward-looking information, which speaks only as of the date of publication. The forward-looking information contained in this press release represents the Company’s expectations as of the date of this press release or as of the date indicated, regardless of the delivery time of the presentation. The Company disclaims any intention, obligation or commitment to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

Source: Allied Corp.



Source link

Leave A Reply

Your email address will not be published.