Here’s the press release
Feb. 07, 2022 — Allied Corp. (“Allied” or the “Company”) (OTCQB: ALID) is pleased to announce the signing of a forward purchase agreement with a pharmaceutical partner out of Australia. Allied has shipped to Australia multiple times now.
Under this agreement, Allied will provide 1000kgs of cannabis flower for 1 million euros. Allied has already submitted the import permit application to the Australian Department of Health for this transaction. As well, in preparation for the Colombian president enacting the decree that was announced in 2021 allowing for the export of Colombian cannabis flower, Allied has been scaling its flower production and adding to its inventory. Allied has over 5000kgs in inventory and 30,000 plants in production that is increased weekly from its perpetual harvests.
Allied’s partner has been in the pharmaceutical, medical device and medical supply for 30 years including being a Prime Vendor to the ADF (Australian Defense Forces) for 10 of those years. This has included supplying small medical devices, consumable and pharmaceutical needs (on and off continent). Over the past 4 years, Allied’s Australian partner has become expert in, and has supported the Australian government in, growing innovative new markets including: unregistered specialty medicines, devices for reduction of nicotine addiction, Psilocybin products, medicinal cannabis with secure storage and nationwide distribution as well as export and import.
“This signifies a monumental milestone for the company. There are a ‘100 links to the chain’ that went into closing this transaction. If there are any gaps in production quality, regulatory compliance or logistics management, these transactions get blocked. We have been able to navigate this “gauntlet” due to the team’s competence. Very proud of what that team has accomplished. We are looking forward to turning this agreement into recurring cyclical revenue for the company throughout 2022,” said Mr. Calum Hughes, CEO and Chairman of Allied Corp.
