Allied Corp. One Step Closer to First Commercial Harvest With Psychoactive Strain Evaluation Approval

KELOWNA, British Columbia, May 05, 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 is pleased to announce that on April 29, 2020 the Ministry of Justice in Colombia signed a resolution authorizing Allied Corp.’s wholly owned subsidiary, Medicolombia’s Cannabis S.A.S. ("Medicolombias") to evaluate the Company’s proprietary strains in order to select the best pheno-typed psychoactive cannabis strains with the best commercial production characteristics. This comes as a significant milestone for the company on its path to the first commercial harvest. Along with the previous approval for non-psychoactive evaluation, Medicolombias can now evaluate all of Allied’s psychoactive and non-psychoactive strains that were registered in 2019.

This authorization allows Allied to evaluate the 10 different proprietary strains in a controlled environment in order to select the best pheno-typed strains that are best suited for quality and production efficiency. Allied expects to continue to follow its production plan in order to move towards the first commercial harvest in or around Q3 2020.

“With this approval, Allied is one step closer to our first commercial harvest. Even amid the COVID delays with logistics, travel and isolation, the production team has continued to achieve significant milestones for the company. This speaks to the strength and perseverance of the team,” said Calum Hughes, CEO of Allied.

For more information on Allied Corp., visit www.allied.health          

About Allied Corp.
Allied Corp. is an international medical cannabis production company with a mission to address today’s medical issues by researching, creating and producing targeted cannabinoid health solutions. Allied Corp. uses an evidence-informed scientific approach to make this mission possible, through cutting-edge pharmaceutical research and development, innovative plant-based production and unique development of therapeutic products.

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Forward-Looking Statements:

This press release contains “forward-looking information” within the meaning of applicable securities laws in Canada or “forward-looking statements” made pursuant to the “safe harbour” provisions of the United States Private Securities Litigation Reform Act of 1995 (collectively, “forward-looking information”). Forward-looking information may relate to the Company’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 capital expenditures, and other information that is not historical information. Forward-looking information can often be identified by the use of terminology such as “believe,” “anticipate,” “plan,” “expect,” “pending,” “in process,” “intend,” “estimate,” “project,” “may,” “will,” “should,” “would,” “could,” “can,” the negatives thereof, variations thereon and similar expressions. The forward-looking information contained in this press release is based on the Company’s opinions, estimates and assumptions in light of management’s experience and perception of historical trends, current conditions and expected future developments, as well as other factors that management currently believes are appropriate and reasonable in the circumstances. Forward looking statements in this press release include the following: that Allied is leveraging the conditions in its Colombia grow operation and future Kelowna location to support its Research and Development efforts; that Allied is making important strides forward to position itself as a leader in the medical cannabis space, that Allied intends to make a series of proposed trademark and other intellectual property protection filings, as part of the Company’s Intellectual Property and Pharma Development (IP&PD) Strategy, statements respecting the joint development, manufacturing, and introduction of TACTICAL RELIEF branded products, and the use of proceeds from the offering of convertible notes.