Allied Corp. (OTCMKTS:ALID) Initiates Three Major Commercial Exports of Cannabis Flower from Colombia to International Markets

Allied Corp. (OTCMKTS:ALID) has announced on April 21, 2022, about initiating three major commercial exports of Colombian-produced dried cannabis flower. One export is headed for Australia, while the others are for the United States. The starting export volumes are for 1000, 1000 and 500 kilograms respectively.

Market Stats     

On Thursday, ALID stock moved up 1.05% to $0.91 with more than 23K shares, compared to its average volume of 18k shares. The stock moved within a range of $0.9005 – 0.9200 after opening trading at $0.90.

Allied Corp. Announces Initiation of Its First Three Major Commercial Exports of Cannabis Flower From Colombia to International Markets

Allied only exports cannabis flower to countries where it is legal to do so. It had previously signed a monthly supply agreement with a US-based multi-state operator for a supply of 1000 kilograms of Colombian flower (under 0.3% THC). On April 01 2022, Colombia approved regulations for the export of dried flower, so the export has been initiated accordingly by the company.

Back in September 2021, Allied submitted its first import permit application to the Australian Department of Health for the import of 1000 kilograms of dried cannabis flower from Colombia. This dried flower import permit application took four months to get the go-ahead and is the first of its kind for Allied. Thanks to this green light, the company has initiated the export of the first shipment as per the 1000 kgs. supply agreement destined for Australia.

Calum Hughes, CEO and Chairman of Allied Corp. is excited about this development. He states that 1000 kilograms of vacuum sealed packaged cannabis flower, is quite a sight! It is the result of years of hard work, relationship building, international negotiations and precise production knowledge. He credits Allied’s disease and pest management program, anti-microbial, heavy metal and anti-mold and yeast program, to the success.

Key Quote

“1000 kilograms of vacuum sealed packaged cannabis flower is quite the sight to see. We couldn’t be more proud of this monumental achievement. It has taken years of relationship building, international negotiations and precise production knowledge to pull this off. Scaling production to these volumes is not easy with the stringent quality assurance limits for international standards needing to be met. Allied’s disease and pest management program, anti-microbial, heavy metal and anti-mold and yeast program have all led us to this success. As we continue to service the contracts that we have in hand we only expect our monthly volumes to continue to grow,” said Mr. Calum Hughes, CEO and Chairman of Allied Corp.

Traders Corner

ALID stock is trading below the 20-Day and 50-Day Moving averages of $1.04 and $1.36 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.59.