Allied Corp., a Medical Cannabis Company, Announces Listing On OTC Markets Under Ticker ALID
Allied Corp., US0191141078
Kelowna, British Columbia (Newsfile Corp. - August 13, 2019) - Allied Corp. (OTC Pink: ALID) ("Allied") - an international medical cannabis company focused on creating and providing targeted cannabinoid health solutions - today announced that it has completed its initial listing on public securities markets through a reverse acquisition transaction with Cosmo Ventures, Inc., a fully reporting SEC company. The name change and symbol change were completed through a corporate action processed through FINRA. The Company is now listed and trading on the OTC Markets pink exchange under the trading symbol "ALID". The Company intends to apply to trade on the OTC Markets: OTCQB Market. The OTC Markets are described in general below.
Allied's initial share capitalization will be approximately 82,500,014 common shares. This share capitalization number includes the successful closing of two non-brokered private placement financings: The first was oversubscribed and raised approximately USD$1,325,000 at $0.50 cents per share and the second raised approximately USD$3,000,000 at $0.75 per share.
The public listing was accomplished through a reverse acquisition stock exchange of Allied with Canadian based Advanced Micro Biosciences, Inc., and its wholly-owned subsidiaries. All of these subsidiaries are now wholly owned by Allied Corp., some of which include:Medi Colombias SAS has all approved national licenses for the production and extraction of large-scale, low-cost cannabis within its production center in Bucaramanga, Colombia.Falcon Ridge Naturals, a Canadian Licensed Producer (LP) applicant with confirmation of readiness from Health Canada, with a catalogue of approximately 50 natural health products, three of which have Natural Health Product registration numbers approved for sale from Health Canada. Buds Pure Naturals, Inc., a natural health company with a catalogue of nine cannabis-based lotions as well as products targeting anti-aging, anti-pain, anti-inflammation and skin care. Some of these products have cosmetic registration numbers with Health Canada.Allied Charitable Foundation, a registered Canadian non-profit foundation that develops online supportive materials and operates healing retreats and ongoing healing activities for people living with Post-Traumatic Stress Disorder (PTSD).
Allied has also entered into a licensing agreement with Tactical Relief, LLC, a United States affiliate corporation that develops, markets and distributes products under the Tactical Relief? intellectual property (IP) of Allied Corp. Tactical Relief LLC further sub-licenses its IP and proprietary formulas to Savage Consulting for the manufacture and sale of hemp-derived CBD products in the United States.
"With our public listing, we have reached a critical milestone that will further enable us to advance the important work we're doing while continuing to grow our company," said Calum Hughes, Founder and CEO of Allied Corp. "Through a combination of science and technology, and fueled by our passion to help veterans and first responders cope with PTSD, we have made it our mission to offer natural, effective health alternatives. Through research, production and in-person healing retreats, we aim to change the statistics on PTSD suicides while providing people with life-altering solutions."
Allied Corp. is structured into four different vertical markets:Nutraceutical Pharmaceutical Production The Allied Charitable Foundation
The Company's nutraceutical vertical has an extensive catalogue of products under its Tactical Relief? brand. Several products will be distributed into the Canadian and International markets.
The pharmaceutical vertical includes working partnerships in Europe, Israel, Colombia and Canada and is developing unique medical technologies, with its primary target being the large and growing number of people suffering from post-traumatic stress disorder. Allied Corp. differentiates itself within the market through its unique ability to genetically refine premium targeted cannabis strains in Canada, as well as, through the use of nano-based technology to provide a much more standardized delivery of cannabinoids into the body.
Allied's production vertical is primarily focused in Colombia where it holds production licenses. The Company leverages very fertile and logistically convenient cannabis production land in South America to bring low-cost, high-margin medical cannabis to the global market. Colombia's climate and growing conditions are ideal. Projected production costs are significantly lower when compared to peer average Canadian-based operations.
The Allied Charitable Foundation's mission is to promote healing for as many veterans and first responders as possible. The Foundation offers: in-person healing retreats; support for ongoing care planning with a team of integrated professionals; peer support through the anonymous Allied online community with learning resources for veterans, first-responders and their families; and, physician-led medical therapy. Allied Corp. is dedicated to promoting a holistic approach to healing that reinforces a specialized model of care in the hope of preventing future suicides among veterans and first responders that have PTSD or other disorders.
Additional information about Allied Corp. can be found at www.allied.health.
On behalf of the Board,
Calum HughesChief Executive Officer
About Allied Corp.
Allied Corp. is an international cannabis company with a mission to help people suffering from Post-Traumatic Stress Disorder (PTSD) 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.
A General Description of the OTC Markets
OTC Markets Group Inc. operates the OTCQX Market, the OTCQB Market and the Pink Open Market for approximately 10,000 U.S. and global securities. Through OTC Link ATS and OTC Link ECN, OTC Markets connects a diverse network of broker-dealers that provide liquidity and execution services. The system is designed to enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors.
Investor Relations:Anthony Zelenir@allied.health+1-778-388-5258
Forward-Looking Statements:This news release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements relate to future events or future performance. Statements which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, outlook, expectations or intentions regarding the future including words or phrases such as "anticipate", "become", "objective", "may", "will", "might", "should", "could", "can", "intend", "expect", "believe", "estimate", "predict", "potential", "plan", "is designed to", "project", "continue", or similar expressions suggest future outcomes or the negative thereof or similar variations. Forward-looking statements may also include, among other things, any statements relating to helping veterans and first responders cope with PTSD, research and development, production and sale of cannabis and hemp products, acquisition of nano technology, projected costs of production, expectations regarding expenses, sales and operations, our growth strategy and product development, and any other statements that are not historical facts.
Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for our products; anticipated costs and ability to achieve goals; the Company's ability to complete any contemplated transactions; historical prices of cannabis and hemp; that there will be no regulation or law that will prevent the Company from operating its businesses; the state of the economy in general and capital markets in particular; present and future business strategies; the environment in which the Company will operate in the future; the estimated size of the cannabis market; and, other factors, many of which are beyond the control of the Company. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Although the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. Given these risks, uncertainties and assumptions, the reader should not place undue reliance on these forward-looking statements.
Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated include but are not limited to: risks related to our growth strategy; risks relating to the results of research and development activities; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; our dependence on third-party suppliers and partners; our ability to attract, integrate, and retain key personnel; our need for substantial additional funds; government regulation; intellectual property matters; competition; as well as other risks described in our SEC filings.
Important factors that could cause actual results to differ materially from the Company's expectations include, consumer sentiment towards the Company's products and cannabis generally; risks related to the Company's ability to maintain its licenses issued by governments in good standing; risks related to the costs required to meet the obligations related to regulatory compliance; risks related to the extensive control and regulations inherent in the industry in which the Company operates; risks related to governmental regulations, including those relating to taxes and other levies; risks related to an early stage business and a business involving an agricultural product and a regulated consumer product; risks related to building brand awareness in a new industry and market; risks relating to restrictions on sales and marketing activities imposed by governments; risks inherent in the agricultural business; risks relating to energy costs; risks relating to product liability claims, regulatory action and litigation; risks relating to recall or return of products; risks relating to insurance coverage; global economic climate; equipment and building failures; increase in operating costs; decrease in the price of cannabis; security threats; government regulations; loss of key employees and consultants; additional funding requirements; volatility in the securities of the Company; changes in laws; technology failures; failure to obtain permits and licenses; anticipated and unanticipated costs; competition; risks associated with the substantial obligations of being a public company; and, failure of counterparties to perform their contractual obligations. This list is not exhaustive of the factors that may affect the forward-looking statements. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking statements.
We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.
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13.08.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: Allied Corp.
Canada ISIN: US0191141078 EQS News ID: 856781 End of News DGAP News Service