Kelowna, British Columbia--(Newsfile Corp. - August 13, 2019)--PRESS RELEAE--Allied Corp., an international medical cannabis company focused on creating and providing targeted cannabinoid health solutions, has 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:
- 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.