Hollister Biosciences (HOLL.C) together with Allied (ALID.OTC) bring Tactical Relief, a hemp-based CBD oil intended to help veterans and first responders, according to a press release.
Tactical Relief distribution will be handled by Indus Holdings (INDS.C), Hollister’s distribution partner, and is expected to retail throughout California Q3, 2020. The company will be donating 5% of profits to charity, and Hollister and Allied will divide the remaining revenue 60:40.
“This partnership is one that unites two powerful companies in the cannabis space with one common mission: to help veterans and first responders change the way they manage PTSD and TBI. This is a huge shift that has to happen nationwide. This partnership is the start of that shift,” said Adam Smith, VP of natural health at Allied Corp.
Allied is an international medical cannabis company focused on helping veterans and first responders deal with medical issues which may arise in the course of performing their duties, with a specific focus on post traumatic stress disorder. Allied’s specific research and development, and production focuses on providing cannabinoid medicine to those who need it.
Allied will provide the Tactical Relief support for the brand, including trademarks, artwork, logos and package design. Hollister will also take care of anything related to supervision and licenses, package design, and for all costs pertaining to distribution and sales. Both companies will look for ways to develop and market additional products, and look for ways to expand their product reach into various regions of the United States in the future.
“We are thrilled to be working with Allied Corp. to bring much needed relief to our amazing veterans and 1st responders with PTSD and other ailments. This is a very important mission for Hollister to be able to have a huge impact on our veteran’s lives,” said Carl Saling, Hollister’s CEO.
Hollister had a one penny, or 10% bump on the news, and Allied remained flat.