Business
Allied Corp. Ships its First Hemp-Infused Skin Care Products to Asia
Allied Corp. Ships its First Hemp-Infused Skin Care Products to Asia.
About this update from Allied Corp.
[{"type":"text","content":"\n 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 ...