TORONTO and RIONEGRO, Colombia, September 15, 2022 /CNW/ – PharmaCielo Ltd. (“PharmaCielo” or the “Company”) (TSXV: PCLO) (OTCQX: PCLOF), the Canadian parent company of Colombia leading cultivator and producer of dried cannabis flower and medicinal grade cannabis extracts, PharmaCielo Colombia Holdings SAS (“Holdings”), today announced that he made his first shipment of THC-dominant dried cannabis flower to a customer in Czech Republic, in the EU market. The client is a cannabinoid-focused pharmaceutical distributor and clinical research organization established in the country. The customer is currently importing cannabinoids from The Netherlands and Canada.
Bill Petron, PharmaCielo CEOcommented, “PharmaCielo’s global business development team continues to make substantial progress in expanding the company’s sales pipeline and paving the way for accelerated growth from 2023. EU is the biggest opportunity for global cannabinoid exporters, and PharmaCielo is well positioned to gain market share against current suppliers, with a combination of proprietary Colombian strains, high quality products and low production costs. Our team has recently made substantial progress in several markets, including Germany, Israel, Brazil, Mexico, Polandand now the Czech Republic. We anticipate that the combination of these recent developments and sustained commercial efforts will make the next eighteen months a pivotal time for the Company.”
PharmaCielo Ltd. (TSXV: PCLO, OTCQX: PCLOF) is a global company, headquartered in Canada, focused on the ethical and sustainable cultivation, processing and sourcing of all pharmaceutical grade medical dried cannabis flowers and large-scale cannabis products. distributors. PharmaCielo’s principal (and wholly owned) subsidiary 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.
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 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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