ALID - Allied Corp Successfully Ships 180kgs of Medical Cannabis Fulfilling Purchase Order Buyer Granted Additional Import Permits
(TheNewswire)
Kelowna, BC, Canada – May 29, 2024 – TheNewswire – Allied Corp ("Allied" or the “Company”)( OTCQB: ALID ) is pleased to announce that it has successfully completedan international shipment of 180 kilograms of medical cannabis fromColombia, equally split between THC and CBD. The cargo has now clearedcustoms, demonstrating Allied’s ability to execute on substantialvolume orders into highly regulated markets and establishing a provenroute for future transactions.
This shipment satisfies a purchase order signed inMarch of this year with an EU-GMP manufacturer with leading telehealthand pharmaceutical distribution capabilities. The order is part of aMaster Agreement, which includes quarterly meetings to establish andfulfill ongoing supply requirements. Additionally, the manufacturerhas already received permits for further imports of THC and CBD flowerfrom Allied, paving the way for a future order.
“We are proud to announce this successful deliveryand our partner’s additional import permits, which showcases thestrength of the partnership and aligns with our strategy to securelong-term, multi-year global partnerships”, said Juba Hadid, VP ofGlobal Sales. “This comes at an exciting time for the industry wherewe are seeing growing global adoption of medical cannabis, partlydriven by the recent decriminalization in Germany and discussions ofUS rescheduling.”
This successful delivery follows two shipments toAustralia in Q4 last year and underscores the company’s continuedmomentum, including its recent shipment to Europe and its recentlysigned 3-year 3-party flower distribution agreement to the UK.
About Allied Corp
Allied Corp is a Canadian cannabis supplier with itsproduction center in Colombia. By leveraging Canadian cannabis cultivationexpertise and Colombianprice advantages, Allied offers consistent supply of premium cannabisproduct at scale and at attractive prices, while meeting internationalhigh-quality standards.
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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’s opinions, estimates and assumptions in light ofmanagement’s experience 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 Form 10-Q, Annual Reports on Form10-K and Current Reports on Form 8-K filed under the Company's profileat 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 eventsto differ materially from those expressed in such forward-lookinginformation in this presentation. There can be no assurance that suchinformation will prove to be accurate, as actual results and futureevents could differ materially from those anticipated in suchinformation. Accordingly, readers and viewers should not place unduereliance on forward-looking information, which speaks only as of thedate made. The forward-looking information contained in this releaserepresents the Company’s expectations as of the date of this releaseor the date 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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