ALID - Allied Corp exports THC based Medical Cannabis flower from Colombia to Australia
(TheNewswire)
S uite 201 – 1405 St. Paul Street
Kelowna, BC, Canada V1Y 2E9
Toll Free: 1-877-255-4337
www.allied.health
Kelowna, BC, Canada – TheNewswire - November 03,2023 Allied Corp . ("Allied" or the “Company”) ( OTC:ALID ), a leadingplayer in the international cannabis industry, is proud to announcethe shipment of THC based medical cannabis flower from its cultivationand processing facilities located in Colombia. This export is atestament to the company’s ability to comply with one of theworld’s most stringent quality standards set by the AustralianTherapeutics Goods Association (TGA) and unwavering commitment toproviding high-quality medical cannabis products worldwide.
The medical cannabis industry in Australia isexperiencing substantial growth with an increased number of patientsusing cannabis to treat conditions like pain, anxiety and seizures,among others. The TGA Authorised Prescribers patient data reveals thatthere were 307,000 patients in the first half of 2023, versus 137,000in the same period in 2022 ( source: click link here ). This remarkable rise in adoptionunderscores the country’s evolving healthcare landscape as it is setto become one of the largest markets for medical cannabisglobally.
This commercial shipment into Australia marks asignificant milestone for Allied as it continues to play a crucialrole in addressing the diverse medical cannabis needs of patients andhealthcare providers in the Australian market. The company is in fact seeking to grow its footprint withinAustralia and is in advanced negotiation with several distributors andoff takers within that market.
“On the heels of the recent expansion of ourcommercial team, they have performed. We are excited for the team tocontinue to scale up sales activities internationally.” says CalumHughes, CEO.
About Allied Corp.
AlliedCorp. is aninternational cannabis company with its main production center inColombia and is one of the few companies that has exported fromColombia internationally and the first company to export commercialcannabis flower from Colombia. By leveraging the Colombian advantagesand its Canadian cannabiscultivation expertise, Allied offers consistent supply of premium cannabis product at scaleand attractive prices, while meeting high quality standards, thussignificantly de-risking its partners supply chain.
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Forward-LookingStatements:
This press release contains“forward-looking information” within the meaning of applicablesecurities laws in Canada or the United States ( “forward-lookinginformation”). Forward-looking information may relate to theCompany’s future outlook and anticipated events, plans or results,and may include information regarding the Company’s objectives,goals, strategies, future revenue or performance and capitalexpenditures, and other information that is not historicalinformation. Forward-looking information can often be identified bythe use of terminology such as “believe,” “anticipate,”“plan,” “expect,” “pending,” “in process,”“intend,” “estimate,” “project,” “may,” “will,”“should,” “would,” “could,” “can,” the negativesthereof, variations thereon and similar expressions. Theforward-looking information contained in this press release is basedon the Company’sopinions, estimates and assumptions in light of management’sexperience and perception of historical trends, current conditions andexpected future developments, as well as other factors that managementcurrently believes are appropriate and reasonable in thecircumstances. Forward looking statements in this press releaseinclude the following: that Allied is leveraging the conditions in itsColombia grow operation and future Kelowna location to support itsResearch and Development efforts; that Allied is making importantstrides forward to position itself as a leader in the medical cannabisspace, that Allied intends to make a series of proposed trademark andother intellectual property protection filings, as part of theCompany’s Intellectual Property and Pharma Development (IP&PD)Strategy, statements respecting the joint development, manufacturing,and the introduction of TACTICAL RELIEF™ brandedproducts.
There can be no assurance that theunderlying opinions, estimates and assumptions will prove to becorrect. Risk factors that could cause actual results to differmaterially from forward-looking information in this release include:the Company’s exposure to legal and regulatory risk; the effect ofthe legalization of adult-use cannabis in Canada and Colombia on themedical cannabis industry is unknown and may significantly andnegatively affect the Company’s medical cannabis business; that themedical benefits, viability, safety, efficacy, dosing and socialacceptance of cannabis are not as currently expected; that adversechanges or developments affecting the Company’s main or plannedfacilities may have an adverse effect on the Company; that the medicalcannabis industry and market may not continue to exist or develop asanticipated or the Company may not be able to succeed in this market;risks related to completion of the greenhouse construction inColombia, risks related to market competition; risks related to theproposed adult-use cannabis industry and market in Canada and Colombiaincluding the Company’s ability to enter into or compete in suchmarkets; that the Company has a limited operating history and ahistory of net losses and that it may not achieve or maintainprofitability in the future; risks related to the Company’s currentor proposed international operations; risks related to future thirdparty strategic alliances or the expansion of currently existingrelationships with third parties; that the Company may not be able tosuccessfully identify and execute future acquisitions or dispositionsor successfully manage the impacts of such transactions on itsoperations; risks inherent to the operation of an agriculturalbusiness; that the Company may be unable to attract, develop andretain key personnel; risks resulting from significant interruptionsto the Company’s access to certain key inputs such as raw materials,electricity, water and other utilities; that the Company may be unableto transport its cannabis products to patients in a safe and efficientmanner; risks related to recalls of the Company’s cannabis productsor product liability or regulatory claims or actions involving theCompany’s cannabis products; risks related to the Company’sreliance on pharmaceutical distributors; that the Company, or thecannabis industry more generally, may receive unfavorable publicity orbecome subject to negative consumer or investor perception; thatcertain events or developments in the cannabis industry more generallymay impact the Company’s reputation or its relationships withcustomers or suppliers; that the Company may not be able to obtainadequate insurance coverage in respect of the risks that it faces,that the premiums for such insurance may not continue to becommercially justifiable or that there may be coverage limitations andother exclusions which may result in such insurance not beingsufficient; that the Company may become subject to liability arisingfrom fraudulent or illegal activity by its employees, contractors,consultants and others; that the Company may experience breaches ofsecurity at its facilities or losses as a result of the theft of itsproducts; risks related to the Company’s information technologysystems; that the Company may be unable to sustain its revenue growthand development; that the Company may be unable to expand itsoperations quickly enough to meet demand or manage its operationsbeyond their current scale; that the Company may be unable to secureadequate or reliable sources of necessary funding; risks related to,or associated with, the Company’s exposure to reportingrequirements; risks related to conflicts of interest; risks related tofluctuations in foreign currency exchange rates; risks related to theCompany’s potential exposure to greater-than-anticipated taxliabilities; risks related to the protection and enforcement of theCompany’s intellectual property rights, or the intellectual propertythat it licenses from others; that the Company may become subject toallegations that it or its licensors are in violation of theintellectual property rights of third parties; that the Company maynot realize the full benefit of the clinical trials or studies that itparticipates in; that the Company may not realize the full benefit ofits licenses if the licensed material has less market appeal thanexpected and the licenses may not be profitable; as well as any otherrisks that may be further described in and the risk factors discussedin the Company's continuous disclosure including its Management'sDiscussion and Analysis sections in its Quarterly Reports on Form10-Q, Annual Reports on Form 10-K and Current Reports on Form 8-Kfiled under the Company's profile at www.sec.gov.
Although management has attempted toidentify important risk factors that could cause actual results todiffer materially from those contained in the forward-lookinginformation in this presentation, there may be other risk factors notpresently known to the Company or that the Company presently believesare not material that could also cause actual results or future events to differmaterially from those expressed in such forward-looking information inthis presentation. There can be no assurance that such informationwill prove to be accurate, as actual results and future events coulddiffer materially from those anticipated in such information.Accordingly, readers and viewers should not place undue reliance onforward-looking information, which speaks only as of the date made.The forward-looking information contained in this release representsthe Company’s expectations as of the date of this release or thedate indicated, regardless of the time of delivery of thepresentation. The Company disclaims any intention, obligation orundertaking to update or revise any forward-looking information,whether as a result of new information, future events or otherwise,except as required under applicable securities laws.
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