TORONTO and RIONEGRO, Colombia , August 4, 2022 /CNW/ – PharmaCielo Ltd. (“PharmaCielo” or the “Company”) (TSXV: PCLO) (OTCQX: PCLOF), the Canadian parent company of Colombia Leading cultivator and producer of dried flower extracts and medicinal-grade cannabis, PharmaCielo Colombia Holdings SAS (“Holdings”), today announced its first shipment of cannabinoid products to its Mexican joint venture PharmaCielo SA de CV ( “PharmaCielo Mexico”). The Company’s co-partner in PharmaCielo Mexico is MINO Labs SA de CV (“MINO Labs”), which is a specialty pharmaceutical company and medical supplies distributor based in Mexico. PharmaCielo Mexico organized this initial shipment to support the product development efforts of a potential customer, who is in the process of developing cannabinoid-based herbal products for the Mexican market.
Bill PetronPharmaCielo CEOsaid, “The Mexican market represents a great short and medium term opportunity for PharmaCielo, and we are proud to export cannabinoids to support the development of products for the medical market. PharmaCielo Mexico is positioned to be a preferred supplier in the country, backed by PharmaCielo’s proven ability to deliver floral extracts and products at scale, with consistent quality and value, and MINO Labs’ track record of success in the Mexican market. PharmaCielo’s global sales pipeline continues to expand and we expect 2022 and 2023 to be pivotal years for growth and shareholder value creation as we continue to execute on our strategy.”
Manuel Cosme Odabachian, CEO of Mino Laboratories, added, “MINO Labs has been a leader in the Mexican specialty pharmaceutical distribution industry for over 20 years. As the country continues to move towards legalization for medical purposes, we are seeing significant interest from our existing customer base to take products for pharmaceuticals. development. Mexico is a large potential market, and we fully expect the combination of Mino’ Laboratories PharmaCielo’s long history of selling in the specialty pharma sector in the country and its ability to consistently produce pharmaceutical grade products will be a winning combination as demand continues to grow. »
PharmaCielo Ltd. (TSXV: PCLO, OTCQX: PCLOF) is a global company, headquartered in Canada, with a focus on the ethical and sustainable cultivation, processing and supply of all pharmaceutical grade medical dried cannabis flower and cannabis products to major distributors. The principal (and wholly owned) subsidiary of PharmaCielo is PharmaCielo Colombia Holdings SAS, headquartered in its Cultivation and Processing Center located in Rionegro, Colombia.
PharmaCielo’s Board of Directors and management team are comprised of a diverse group of international business executives and specialists with relevant and varied expertise. PharmaCielo recognized the important role that Colombia the ideal location plays into building a sustainable business in the medical cannabis industry, and the company, together with its directors and officers, is executing a business plan focused on supplying the international market.
About MINO Laboratories
Mino Labs SA de CV is a specialty pharmaceutical company and medical supplies distributor based in Mexico with over 20 years of experience. The company has distribution, warehousing and marketing facilities throughout Mexico that supply strategic chains, independent and retail pharmacies and government sector institutions with pharmaceutical, biological and over-the-counter products. MINO has a fully operational license and a state-of-the-art 64,500ft warehouse in accordance with proper infrastructure requirements and licensing for pharmaceutical products.
This press release contains forward-looking statements. Forward-looking statements can be identified by the use of words such as “expects”, “is expected”, “intends”, “anticipates”, “believes”, or variations of these words and expressions. or state that certain actions, events, or results “may” or “will” be taken, will occur, or will be completed or achieved. Forward-looking statements in this press release include, but are not limited to, statements regarding the issuance of Units, including the terms thereof and the corresponding closing date.
The forward-looking statements contained in this press release are necessarily based on assumptions, including assumptions regarding PharmaCielo’s ability to obtain the necessary approvals for the issuance of Units.
Forward-looking statements may be affected by known and unknown risks, uncertainties and other factors, including changes in PharmaCielo’s development plans, the inability to obtain and maintain all necessary regulatory approvals relating to the export of cannabinoid products and import of such products into other countries, TSX Venture Exchange approval, inability to export or distribute commercial products through sales channels as intended in Due to economic or operational circumstances, the risks associated with operating in Colombiafluctuations in the market price of the Company’s products, risks associated with global economic instability related to COVID-19 or other developments, risks associated with the retention of key Company personnel, currency risk , competition in PharmaCielo’s market and other risks discussed or referred to under “Risk Factors” in PharmaCielo’s Annual Information Form for the year ended December 31, 2019available on www.sedar.com. Accordingly, readers should not place undue reliance on forward-looking statements. Except as required by law, PharmaCielo undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
SOURCE PharmaCielo Ltd.
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