Allied Corp Expands Cannabis Production and Inventory Capacity

KELOWNA, British Columbia, June 03, 2021 (GLOBE NEWSWIRE) -- Allied Corp. ("Allied" or the “Company”) (OTCQB: ALID) an international medical company focused on creating and providing health solutions to address today’s medical mental health issues is pleased to announce progress on its 2021 expansion. Construction has commenced on an additional 200,000 square feet of outdoor cultivation space at its Bucaramanga, Columbia production facility. This expansion includes an upgraded and expanded mothering, cloning, and vegetative infrastructure that will allow the company to continue its intended expansion to 49 acres by the end of 2021. Also included in this expansion are planned upgrades to electrical and water filtration systems along with expanded drying and packaging capacity.

Our production facilities can accommodate 12,000 plants in vegetative stage and 10,000 cloned plants in the propagation stage. We also have 9000 mature plants in the flower stage ready to be harvested. We are expanding our vegetative cultivation space to be able to accommodate 24,000 plants by the end of 2021. Once completed, we expect to be cloning and propagating 24,000 plants every 21 days. This is in response to what we perceive to be the demand for our derivative products including cannabis extract, distillate and isolate. The international market demand has exceeded our current supply.

In an effort to assure consistent supply at scale for its customers, Allied’s objective has been to increase its cloning, propagation, vegetative and flowering plant inventory each week.

“This expansion represents progress of what is happening at our Colombian site. With this progress, Allied intends to provide long-standing, consistent supply and demonstrate scale to the international marketplace,” said Calum Hughes, CEO of Allied.  

About Allied Corp. - https://allied.health/

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