KELOWNA, British Columbia, Feb. 12, 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 that it has made its first shipment of commercial "Cannabis Sativa Leaf Extract" skincare products to the Asian market.
The product line, called MaXXa™, is an Allied brand focused on bringing high-quality skin care products that promote vitality and youthfulness to the Asian market. Using a special formula including infused-hemp, MaXXa™ is looking to make a large impact in the Asian market as the first company to deliver a Canadian-formulated and designed skincare line.
The first products initially rolled out will be a cosmetic facial cream and an “anti-aging” serum, with additional products currently in development for future release.
“There is an increasing demand for hemp-derived skin care products, and we look forward to continuing to strengthen our product portfolio,” said Calum Hughes, the CEO and Founder of Allied. “We’ve worked hard to formulate and design first-in-class skincare products for consumers. Following our agreement with Hong Kong’s CBD Asia Limited, this shipment marks our official entrance into the dynamic, explosive Asian CBD skincare market, and we’re excited to possibly be the first Canadian based public companies to do so.”
The first shipment to China took place on January 28th, 2020. This shipment included a total of 120 total units encompassing 20 units for every six unique product SKUs (stock-keeping units).
This shipment follows Allied reaching a definitive agreement with Hong Kong-based CBD Group Asia Limited (“CBD Asia”). This agreement leverages CBD Group Asia's capabilities to distribute Allied's CBD-based cosmetics and natural health products into China, Hong Kong and throughout Asia in a 50:50 joint venture. “We have worked tirelessly in tandem with the Allied team to create natural products that Asian consumers are going to love and we’re very confident in the subsequent success of this brand and the future of our joint venture company,” stated James Foster, CEO and founder of CBD Asia.
CBD Asia specializes in the importation and customization of premium Canadian consumer packaged goods (“CPGs”) for the Chinese marketplace. The company’s vast network will be utilized to distribute premium Canadian CPGs into China’s largest retail chains and stores, including RT-Mart International Ltd and Carrefour SA. Noting that Carrefour SA sells into 210 hypermarkets and 24 convenience stores in 51 cities. RT-Mart operates 484 retail locations covering 233 cities and 29 provinces in China, with $20 billion in sales in 2018. Additionally, CBD Asia will be marketing and selling Allied CBD products through e-commerce and we-chat sales channels.
For more information on Allied Corp., visit www.allied.health
About Allied Corp.
Allied Corp. is an international medical cannabis production 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 CBD Asia Group
CBD Group Asia (“CGA”) is opening up avenues of growth in embryonic cannabidiol (CBD) markets emerging in Asia. CGA is positioning itself as a conduit in this region through investment in Asian CBD hyper growth stories and distribution of growth orientated North American-based CBD brands. CGA is utilizing its management team’s decades-long investment, sales and marketing experience in consumer products in Asia in order to grow and expand within the Asian CBD sector.
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 that suggest future outcomes or the negative thereof or similar variations. Such forward-looking statements include, but are not limited to, that the Company’s proposed products will be accepted by the market place in Asia, that the Company will be able to produce and sell its products during calendar 2020 and that the joint venture will be able to handle the distribution logistics of the products. We are also subject to various additional risks as described in our SEC filings at www.SEC.gov.
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