Benzinga | Jul 30, 2021 12:05PM EDT

Allied Corp. Completes CBD Shipment From Colombia To Australia, Ramps Up Its International Footprint

Allied Corp. (OTCQB:ALID) announced Thursday it has completed its commercial shipments of cannabidiol isolate from Colombia to Australia, just weeks following the completion of its shipment of cannabidiol (containing less than 0.3% THC) from Colombia into the United States.

The news came on the heels of receiving import approval certificates for both Australia and Peru. In addition, Allied initiated the shipment of CBD from Colombia to Peru and Europe last week.

Produced from the seed in Colombia at Allied's production site, the shipment to Australia was approved for export by the Colombian Ministries of Justice, Health and Agriculture and then transported to Australia.

"We perceive Australia as a very big market that we are excited to serve," Calum Hughes, the company's CEO, said. "With each shipment, we believe key business relationships are developed within each respective market. With the recent announcement of Colombia allowing the export of flower, we are excited to continue to add to the markets that we have successfully shipped to and continue to expand our product offering."

Simultaneously, Allied, based in Kelowna, British Columbia, inked an ongoing management agreement with Cannada Management Group Global Inc. to bolster the company's contracts into several international markets.

Last week, Colombian President Ivan Duque lifted the prohibition on exporting dried cannabis flower.

"This means Colombia can enter to play a big role in the international market," Duque said after signing the decree. "Latin American cannabis exports could be worth $6 billion."

Photo: Courtesy of weed photos on Unsplash