Allied Corp. Announces Corporate Update

KELOWNA, British Columbia, March 12, 2020 (GLOBE NEWSWIRE) -- Allied Corp. ("Allied" or the "Company") (OTCQB: ALID), an international medical cannabis company focused on creating and providing targeted cannabinoid health solutions to address today’s medical issues, has employed a multi-vertical focus to establish a comprehensive approach for sufferers of post-traumatic stress disorder and cognitive trauma. 

Allied Corp. is making important strides forward to position itself as a leader in the medical cannabis space.

This update is organized into six categories: Production, Pharmaceutical, Natural Health, Allied Charitable Foundation, Financing and Strategy.

Production

As a licensed producer (LP) of cannabis for medical and research applications, Allied is leveraging the ideal conditions in our Colombia grow operation and our future Kelowna location to support our Research and Development efforts. To date, Allied has registered a seed bank in excess of 3,000 indigenous seeds, including 22 different landrace varieties and 167 hybrids from around the world.

Under the Colombian regulations, Allied has plants growing under national licensure and the plant varieties are well into their growth life cycle. Allied has developed more than 80 Good Manufacturing Practice (GMP) and Good Production Practices (GPP) cultivation, production, sanitation and extraction Standard Operating Protocols (SOPs) to produce cannabis and hemp oil for future export and development.

Pharmaceutical 

On September 23, 2019, Allied announced the filing of its first United States Provisional Patent Application for Cannabinoid and Terpenoid Pharmaceutical Compositions and Methods for Treating Post-Traumatic Stress Disorder (PTSD).

This marks the first of a series of proposed filings, along with recent trademark filings, as part of the Company’s Intellectual Property and Pharma Development (IP&PD) Strategy. This Pharma Development Strategy includes developing products that serve those suffering from mental health issues, with a specific focus on symptoms related to PTSD.

Natural Health 

Allied recently announced the signing of a non-binding letter of intent between Hollister Biosciences Inc. (“Hollister”) and Allied Corp. affiliate Tactical Relief, LLC (“Tactical Relief”) with respect to the joint development and introduction of TACTICAL RELIEF branded products. Tactical Relief, LLC is an affiliate U.S. entity that licenses from Allied Corp. the Intellectual Property associated to the marketing and sale of Tactical Relief branded products. In addition to the licensing, Allied receives a licensing fee in exchange for the IP and funding of certain marketing activities. These products are intended to be initially distributed to the California market which is anticipated to commence April 1, 2020. All products in the line are expected to provide veterans and first responders with natural alternatives that are intended to ease symptoms related to health issues symptomatic of post-traumatic stress. An estimated 5% of net profits of all sales will be donated to charity.