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.
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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.”
Source: Biospace
