Allied Corp. (OTCQB:ALID) has signed a forward purchase agreement with a pharmaceutical partner out of Australia.
Under the agreement, Allied will provide 1000 kgs of cannabis flower for $1.15 million. Allied has shipped to Australia multiple times now.
Allied has already submitted the import permit application to the Australian Department of Health for this transaction.
Also, in preparation for the Colombian President Iván Duque Márquez enacting a decree that was announced in 2021 that would allow the export of Colombian cannabis flower, Allied has been scaling its flower production and adding to its inventory.
“This signifies a monumental milestone for the company," Calum Hughes, CEO and chairman of Allied Corp said. "There are a '100 links to the chain' that went into closing this transaction. If there are any gaps in production quality, regulatory compliance or logistics management, these transactions get blocked.“
Allied has over 5000kgs in inventory and 30,000 plants in production that is increased weekly from its perpetual harvests.
Allied’s partner has been in the pharmaceutical, medical device and medical supply for three decades, including being a prime vendor to the Australian Defense Forces for 10 of those years. This has included supplying small medical devices, consumable and pharmaceutical needs (on and off continent).
Over the past four years, Allied’s Australian partner has become expert in, and has supported the Australian government in, growing innovative new markets including: unregistered specialty medicines, devices for reduction of nicotine addiction, psilocybin products, medicinal cannabis with secure storage and nationwide distribution as well as export and import.
Photo: Courtesy of Avery Meeker on Unsplash
