KELOWNA, British Columbia, March 31, 2021 (GLOBE NEWSWIRE) — Allied Corp. (“Allied” or the “Company”) (OTCQB: ALID) is an international medical company focused on creating and providing health solutions to address today’s medical mental health issues. This press releases comes as a follow up to the February 17th 2021 press release announcing the letter of intent (LOI) to sign a land lease and purchase of a US-registered cultivation license.
Allied’s wholly owned subsidiary Tactical Relief, LLC has signed a 25-year land lease in the Las Vegas area. This land has ample space to install Allied’s building and further space for future expansion. Allied has completed the construction of an approximate $3.5 million, 9,000 square foot, GMP-complaint facility that is ready to be deployed from the Las Vegas construction factory to this land location. The building has ample space for cannabis cultivation and research as we ll as large scale product packaging and fulfillment (the “US-Based Research and Product Fulfillment Center” discussed below). This building will be deployed to the location in the Las Vegas area and is ready for production.
In addition to this, Allied’s wholly owned subsidiary, Allied US Products LLC, a Nevada limited liability company has entered into an asset purchase agreement for the purchase of a Nevada State US-based cannabis license. As Nevada is not issuing any new licenses this asset is a key piece of Allied’s business plan and International Vertically Integrated Supply Chain (discussed below).
Lastly, Allied US Products LLC, has signed a master services agreement with a Nevada registered company that has the required licenses to operate the facility and will manage all activities that involve touching the plant. This includes all activities and actions needed to operate and manage the facility and equipment, as well as, perform all cannabis cultivation, production, sales and