KELOWNA, British Columbia, Aug. 19, 2021 (GLOBE NEWSWIRE) — Allied Corp. (“Allied” or the “Company”) (OTCQB: ALID) is pleased to announce that it has secured two agreements with one of the Australian medicinal cannabis companies that has received Major Project Status from the Australian Department of Industry, Science and Technology. Allied has signed two binding agreements with this company to supply initially 5 kilograms of CBD isolate, as well as a second agreement to supply 5 kilograms of cannabis flower, both of which we believe are moving towards monthly contracts with increased volumes. This agreement to supply cannabis flower is the first of its kind that Allied has signed following the announcement by the Colombian Government regarding the approval to export Colombian produced cannabis flower.
As evidenced by Allied’s several successful exports from Colombia, it has demonstrated the advantages that its Colombian operations provide to the international export community. Allied now has an average 97% success rate on its plant propagation system. This involves cloning and phenotyping of its genetics through several rounds of selecting the strongest plants and euthanizing the rest. Allied has demonstrated a consistent 900 gram per plant average yield with each hectare being harvested 6-7 times per year given the supplemental lighting system and proprietary nutrient delivery system. This provides Allied’s cultivation fields a continuous replenishment of flowering plants that are already 4 weeks into their 12-week growth cycle. A steady supply of vegetative plants which replenish the flowering plants for harvest leads to a consistent weekly supply of flower that can be offered to international markets.
“We applaud President Duque for signing the decree lifting the prohibition on exporting dried cannabis flower from Colombia. We have not spared any time in locking in our early supply agreements for the provision of Cannabis flower to the international marketplace