Allied Corp Announces LOI to Purchase Nevada USA Cannabis License and Land Lease to Install the Allied US Facility – GlobeNewswire

KELOWNA, British Columbia, Feb. 17, 2021 (GLOBE NEWSWIRE) — Allied Corp. (“Allied”) (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 that it has signed a letter of intent (LOI) with Fiore Cannabis Ltd. (CSE: FIORE) (“Fiore”) to acquire a US registered cultivation license located within in the State of Nevada, USA. In addition to this, the LOI contemplates a land lease agreement for the land foot print upon which the ready built Allied 9000 square foot building will be installed.
Allied has completed the construction of a $3.5 million, 9000 square foot, GMP-complaint facility that is ready to be deployed from the Las Vegas construction factory. The building has ample space for cannabis cultivation and research, as well as, large scale product packaging and fulfillment. In addition to this, Allied has reserved a space within this building to conduct Psilocybin research and production as the legislation allows. This building will be deployed to the location within the Las Vegas city limits and is ready for production. Fiore will be assisting with marketing and sale of the products through Fiore’s already established medical and retail partnerships.About the Allied US-based Research and Product Fulfillment Center (the “Nevada Hub”):Allied has spent that last 18 months designing, constructing and fine tuning the Allied building for deployment to the production location. This building is currently in Las Vegas and so is the land and licenses that Allied has signed intent to purchase and lease. The building has a purposeful design to cultivate specific genetics in the cultivation area of the building, as well, there is reserved space for psilocybin production and research as the Nevada State US legislation evolves. The remainder of the building is dedicated to storing imported

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