KELOWNA, British Columbia, Feb. 07, 2020 (GLOBE NEWSWIRE) -- Allied Corp. ("Allied") (OTCQB: ALID) – an international medical cannabis company focused on creating and providing targeted cannabinoid health solutions to address today’s medical issues – is pleased to announce the signing of a non-binding letter of intent between Hollister Biosciences Inc. (“Hollister”) and Allied Corp. affiliate Tactical Relief, LLC (“Tactical Relief”) with respect to the joint development and introduction of TACTICAL RELIEF™ branded products to the California market. The parties anticipate signing a binding definitive agreement within 30 days.
In this strategic alliance, the parties will focus on the licensing, development, design and marketing of TACTICAL RELIEF™ branded products, under sub-license from Tactical Relief. Allied Corp. has licensed the intellectual property to Tactical Relief, LLC and retains full ownership of the brand TACTICAL RELIEF™. All products in the line provide veterans and first responders with natural alternatives that are intended to ease symptoms related to health issues symptomatic of post-traumatic stress.
Under the terms of the letter of intent, Tactical Relief will contribute artwork, logos, package design and marketing for a series of cannabis tinctures and cannabis related products. On an ongoing basis, Tactical Relief will be financially responsible for the products' initial design and ongoing marketing throughout the sales areas. Hollister will be responsible for all aspects of production and procurement of underlying materials. All production of cannabis products will take place under Hollister’s supervision and licenses, and Hollister will be responsible for all costs associated with production and shipping. Tactical Relief and Hollister will further explore the development and marketing of additional cannabis-based tinctures, as well as expanding into out-of-state markets.
Tactical Relief’s new tincture(s) will be distributed exclusively by Hollister Cannabis Co.’s distribution partner, Indus Holdings Inc., and are anticipated to be in dispensaries throughout California starting April 01, 2020. An estimated 5% net profits of all sales will be donated to charity specific to the parties' interests. Net revenue generated on the tincture product line will be shared 60:40 between Hollister and Tactical Relief.
Tactical Relief and Hollister Biosciences Inc. intend to design and produce an everyday premium TACTICAL RELIEF™ branded CBD/THC product line. The first stock keeping unit (SKU) will be a 20:1 CBD/THC 30ml tincture with a total of 1,000 mg of cannabinoids.
“Tactical Relief is a patriotic brand with a powerful message,” said Adam Smith, a Green Beret, veteran, and US representative at Allied. “We launched this product to change the ways in which veterans and first-responders suffering from PTSD can choose to treat themselves, and with the Hollister Biosciences strategic alliance, we will be able to provide even more alternative treatments to those suffering. Part of the Tactical Relief mission is to use as many holistic treatment methods that have been shown to assist with post-traumatic stress disorder (PTSD) and traumatic brain injury (TBI). This partnership with Hollister Biosciences will help move this mission forward.”
“It’s always been our vision to share the wellness benefits of the cannabis plant with as many people as we possibly can,” said Carl Saling, Founder, CEO and Director of Hollister Biosciences Inc. “We take great pride in providing only the highest quality products and innovation, and we are excited to be teaming up with TACTICAL RELIEF™ to reach new audiences and help out those who have sacrificed so much for us all.”
Additional information on Tactical Relief can be found at https://tacticalrelief.com/.
On behalf of the Board,
Chief Executive Officer
About Allied Corp.
Allied Corp. is an international medical cannabis company with a mission to address today’s medical issues by researching, creating and producing targeted cannabinoid health solutions. Allied Corp. uses an evidence-informed scientific approach to make this mission possible, through cutting-edge pharmaceutical research and development, innovative plant-based production and unique development of therapeutic products.
About Tactical Relief, LLC
Tactical Relief, LLC is a company that focuses on the licensing, development, and marketing of products around its life-style message for those suffering from symptoms of post-traumatic stress and traumatic brain injury. The Company’s goal is to provide veterans and first responders with alternatives to existing methods and products.
About Hollister Biosciences Inc.
Hollister Biosciences Inc. (CSE: HOLL) is a California based vertically integrated cannabis company with a vision to be the sought-after premium brand portfolio of innovative, high-quality California-grown cannabis and hemp products. Hollister uses a vertically integrated, high margin model, controlling the whole process from manufacture to sales to distribution or seed to shelf. Products from Hollister Cannabis Co. include HashBone, the brand’s premier artisanal hash-infused pre-roll, along with solvent-free bubble hash, pre-packaged flower, pre-rolls, tinctures, vape products, and full-spectrum high CBD pet tinctures. Hollister Cannabis Co. additionally offers white-labeling manufacturing of cannabis products. Our wholly owned California subsidiary Hollister Cannabis Co is the 1st state and locally licensed cannabis company in the city of Hollister, CA birthplace of the “American Biker.”
This news release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements relate to future events or future performance. Statements which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, outlook, expectations or intentions regarding the future including words or phrases such as "anticipate", "become", "objective", "may", "will", "might", "should", "could", "can", "intend", "expect", "believe", "estimate", "predict", "potential", "plan", "is designed to", "project", "continue", or similar expressions suggest future outcomes or the negative thereof or similar variations. Such forward-looking statements include, but are not limited to, that the company will be able to launch its proposed hemp and cannabis-derived retail product line, TACTICAL RELIEF™, that such product will relieve symptoms caused by trauma, and that such products will be accepted by service members and first responders.
Forward-looking statements are based on management’s current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. We are subject to various additional risks as described in our SEC filings at www.SEC.gov.
We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.