Term Sheet for Contract Manufacturing Services dated October 27, 2023 between Blossom Genetics Unipessoal Lda, Allied Corp. and and Allied Colombia S.A.S
EXHIBIT 10.1
Strictly Private & Confidential |
TERM SHEET
FOR CONTRACT MANUFACTURING SERVICES BETWEEN
BLOSSOM AND ALLIED CORP
27 October 2023
1. | Parties | Allied Corp Headquarters: 1405 St. Paul Street, #201, Kelowna, BC V1Y 2E4 Canada Contacts: Michael Moses michael@allied.health
Or
Allied Colombia S.A.S Headquarters: Carrera 49 # 54 73 Barrio Pan de Azucar, Bucaramanga, Colombia Contacts: Benjamin Rocha benjamin@allied.health
(Both individually or jointly known as “Allied”) and
Blossom Genetics Unipessoal Lda (“BLOSSOM”) Head Office Address: Av. Infante Dom Henrique 26, 1149-096 Lisboa VAT No: 515982555
Contacts: Oskar Fletcher - CEO Phone: +447702086515 Email: ***@***
Naeem Dungarwalla - CFO Phone: +447906492333 E-mail: ***@*** Web page: www.blossomgenetics.com
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2. | Services | Blossom shall provide end to end service for processing GACP cannabis flower to EU-GMP complaint final product medical cannabis, according to the current regulations in “Eudralex: Volume |
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| 4 Medicinal Products for Human and Veterinary Use: Good Manufacturing Practice and the Annex 7: Manufacture of Herbal Medicinal Product”.
Blossom, EU-GMP certified and license manufacturer of medical cannabis, will provide the following services:
• Processing: Transforming GACP cannabis into EU-GMP medical cannabis flower
· Testing: Regulatory testing required for valid batch release under EU-GMP I & II
· Packaging & Branding: White label services for EU-GMP final product release
· Warehousing: Product Storage under EU-GMP standards to ensure shelf life
· Batch Release: Batch release sign-off by qualified person in line with EU-GMP regulations
· Logistics & Distribution: Providing global delivery services including all import & export filings
Details in the Annex A.
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3. | Commercial | BLOSSOM shall use commercially reasonable efforts to perform the services and supply the product in quantities requested by ALLIED on the date requested.
ALLIED shall be solely responsible for its costs relating to distribution and promotion of the product.
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4. | Supply Price & Services fee | Please refer to Annex B
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5. | Forecasts | Please refer to Annex C.
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6. | Payment Terms | Deposit - ALLIED shall pay for the order cost, 10% (ten per cent) of total order in advance after order placement and respective written confirmation by BLOSSOM and after sending the corresponding proforma invoice.
Processing & Packaging - ALLIED shall pay for the order cost, 40% (fourty per cent) once the COA results are back and Allied gives Blossom the green light to begin manufacturing. Thea final 50% (fifty per cent) will be payable upon final COA received and Final Product manufacture.
Logistics - ALLIED shall pay for the order cost, 100% (one hundred per cent) upon confirmation of the order placement. |
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7. | Intellectual Property | ALLIED shall be solely responsible for ensuring that Product and artworks or text in packaging materials not infringe any third party’s Intellectual Property Rights in the territory of destination. In case of any claims arise, ALLIED shall be fully responsible and indemnify BLOSSOM.
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8. | Termination | Each party shall have the right to terminate upon material breach by, or bankruptcy of, the other party.
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9. | Diligence | Both parties shall undertake their respective responsibilities under the agreement in a business-like way and according to recognised standards.
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10. | Confidentiality | Standard Clauses. Care required in controlling public notification of deal in order to safeguard commercial path of the project. Neither party shall be permitted to issue any press releases or other public announcements without the prior consent of the other party, unless required by applicable law.
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11. | Insurance | Each party shall carry general and Product liability insurance or as appropriate such as care, custody and control insurance coverage.
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12. | Dispute Resolution | Resolve through dialogue, then referral to CEOs (or their designee). If not resolved, parties shall agree be settled in accordance with the Rules of the ICC International Court of Arbitration by one or more arbitrators appointed in accordance with such Rules.
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13. | Governing Law and Jurisdiction | Lisbon, Portugal
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IN WITNESS WHEREOF, the Parties have caused this Term Sheet to be executed by their respective duly authorized representatives.
BLOSSOM | ALLIED |
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| /s/ Benjamin Rocha 10/31/2023 |
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Signature: | Signature: |
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/s/ Oskar Fletcher | /s/ Calum Hughes |
Oskar Fletcher, CEO | 2023-10-26 |
Date: | Date: |
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