Allied Corp Announces Strategic Decision to Voluntarily Cease Quotation and SEC Registration

(TheNewswire)

Kelowna, BC, Canada – January 21, 2025 – TheNewswire - Allied Corp . ("Allied" or the “Company”) ( OTCQB: ALID ) todayannounced that its Board of Directors (the “Board”) has determinedto voluntarily cease the quotation of its common shares (the “commonshares”) from the OTCQB and to terminate its registration with theSecurities and Exchange Commission (“SEC”).

After careful consideration, extensive internal andexternal review of strategic, financial, and operational factors, andindependent consultation with both internal advisors and legalcounsel, the Board has determined that it is in the best interests ofshareholders to voluntarily cease its reporting obligations with theSecurities and Exchange Commission.

The Company today notified the OTCQB of its intentionto voluntarily terminate the quotation of its Securities from theOTCQB. The Company intends to file a Form 25 with the Securities andExchange Commission and the OTC Markets Group, Inc. (“OTC”) on orabout January 31, 2025 to effect the termination of quotation, andthereafter intends to file a Form 15 with the SEC to effect thederegistration of its common shares under Section 12(b) of theExchange Act. As a result, the Company expects the last day ofquotation of its common shares on the OTCQB will be on or aboutFebruary 11, 2025.

Following the termination of the quotation of theCompany’s Securities from the OTCQB, the Company intends to file aForm 15 with the SEC on or about February 11, 2025 to suspend itsreporting obligations under the Exchange Act. As a result of thefiling of the Form 15, the Company’s obligation to file certainExchange Act reports and forms with the SEC, including Forms 10-K,10-Q, and 8-K, will immediately cease. Other SEC filing requirements,including without limitation requirements for 13D filings, Form 4s andother transactions, will terminate upon the effectiveness of thederegistration. Although the Company will have no continuingrequirement to file periodic reports with the SEC after February 11,2025, the Company expects that the formal deregistration of itsSecurities will become effective 90 days after the filing of the Form15 with the SEC. The documents filed with the SEC will be available at www.sec.gov .

The Board’s decision reflects a strategic realignmentof resources to maximize shareholder value and ensure sustainablegrowth. The financial costs associated with maintaining a publiccompany will be redirected toward accretive initiatives, includingdriving operational efficiency and advancingrevenue-generating opportunities.

Allied Corp. remains committed to its core businessobjectives and ongoing operations. The Company will continue to pursuerevenue generation, operational excellence, and strategic growthinitiatives to drive long-term value for shareholders.

Key Highlights of the Decision:

• The Board has sought external and internal expertopinions on what is the best situation to drive accretive value forshareholders.

• Allied Corp. will delist from its current publicexchange following regulatory and procedural compliance.

• The financial costs associated with public listing willbe reallocated to initiatives that deliver accretive value toshareholders.

• Allied will still maintain internal corporategovernance and fiscal stewardship standards consistent with those of apublic company.

• The Company intends to seek to re-list on a publicexchange in the future as part of its strategic roadmap.

The Company will ensure that all regulatory andprocedural requirements for de-registration are met.

About Allied Corp. – CLICK HERE

AlliedCorp. is a Canadiancannabis supplier with its production center in Colombia. Byleveraging Canadiancannabis cultivation expertise and Colombian price advantages, Allied offers consistentsupply of premium cannabis product at scale and at attractive prices,meeting international high-quality standards.

Investor Relations:

ir@allied.health

1-877-255-4337

Disclaimer andForward-Looking Statements:

Neither the OTCQB nor any regulatoryauthority assumes responsibility for the accuracy or adequacy of thisrelease.

This press release includes certainstatements that may be deemed "forward-looking statements"under U.S. and Canadian securities laws. Forward-looking statementsrelate to Allied Corp.’s anticipated developments, strategicobjectives, performance, and market opportunities. These include, butare not limited to, statements regarding Allied’s growth inColombia, Kelowna, Nevada, and other key locations; intellectualproperty filings; joint development and manufacturing initiatives; andplanned product introductions.

Forward-looking statements can often beidentified by terms such as "anticipates,""believes," "expects," "intends,""plans," "will," "may," and similarexpressions. These statements are based on current assumptions,projections, and management’s experience, but are subject to knownand unknown risks and uncertainties that may cause actual results todiffer materially. Notable risks include, but are not limited to,regulatory risks associated with the cannabis industry and marketchanges ; risks related to competition within the cannabis and medicalindustries; risks related to potential operational and logisticalchallenges; risks related to market demand; risks related to economicconditions impacting growth and profitability; risks related topotential delays or adverse changes in project locations or expansionplans; as well as any other risk that may be further described in andthe risk factors discussed in Allied’s filings with the SEC,available at www.sec.gov .

Though Allied endeavors to identifyimportant factors that may impact actual outcomes, other unknownfactors may also cause results to vary. The forward-looking statementscontained in this news release are made as of the date of this newsrelease. Except as required by law, the Company disclaims anyintention and assumes no obligation to update or revise anyforward-looking statements, whether as a result of new information,future events orotherwise, except as required by applicable securities law.Additionally, the Company undertakes no obligation to comment on theexpectations of, or statements made, by third parties in respect ofthe matters discussed above.

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