- Designation brings PharmaCielo a step closer to EU-GMP compliance; supports continued expansion of medicinal-grade extract exports
- GACP certification is based on WHO guidelines for quality assurance and control of herbal medicines
TORONTO, Canada and RIONEGRO, Colombia (November 25, 2020) – PharmaCielo Ltd. (“PharmaCielo” or the “Company”) (TSXV: PCLO, OTCQX: PCLOF), the Canadian-headquartered medicinal cannabis company with cultivation and extraction operations in Colombia, announced that its subsidiary, PharmaCielo Colombia Holdings S.A.S., has received the Good Agricultural and Collection Practices (“GACP”) designation for the production of medicinal cannabis. The certification was awarded to the Company by SGS (“SGS”), one of the world’s leading inspection, verification, testing and certification companies, following a rigorous auditing process that started last year.
The GACP designation awarded to PharmaCielo is based on the guidelines of the World Health Organization (the “WHO”) related to quality assurance and control of medicinal plants. These guidelines provide technical guidance on obtaining medicinal plant materials of good quality for the sustainable production of herbal products classified as medicines.1
“Obtaining the GACP designation, along with the ISO 9001:2015 and the recent recognition of the Company as a Project of National Strategic Interest are important accomplishments that will help us streamline exporting opportunities and open additional international markets for our high-quality medicinal-grade extracts,” said Henning von Koss, President of PharmaCielo Ltd.
The GACP designation is a step above the GAP (Good Agricultural Practices) certification that PharmaCielo already secured earlier this year and brings the Company a step closer to EU Good Manufacturing Practices (“EU-GMP”) compliance, which will open additional opportunities for export of its medicinal-grade cannabis extracts.
The GACP certification was issued by SGS, one of the world’s leading inspection, verification, testing and certification companies. Good Agricultural and Collection Practices are guidelines that have been developed in recent years by the WHO. These guidelines concern the cultivation and collection of medicinal plants and include certain post-harvest operations.
1 WHO guidelines on good agricultural and collection practices (GACP) for medicinal plants
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PharmaCielo Ltd. (TSXV: PCLO, OTCQX: PCLOF) is a global company, headquartered in Canada, with a focus on ethical and sustainable processing and supplying of all natural, medicinal-grade cannabis oil extracts and related products to large channel distributors. PharmaCielo’s principal (and wholly owned) subsidiary is PharmaCielo Colombia Holdings S.A.S., based at its cultivation and processing complex located in Rionegro, Colombia.
The board of directors and executive team of PharmaCielo are comprised of a diversely talented group of international business executives and specialists with relevant and varied expertise. PharmaCielo recognized the significant role that Colombia’s ideal location plays in building a sustainable business in the medical cannabis industry, and the Company, together with its directors and executives, is executing on a business plan focused on supplying the international marketplace.
This press release contains forward-looking statements. Forward-looking statements can be identified by the use of words such as, “expects”, “is expected”, “intends”, “believes”, or variations of such words and phrases or state that certain actions, events or results “may” or “will” be taken, occur or be achieved. Forward-looking statements in this news release include, without limitation, statements with respect to: the effect that obtaining the GACP designation, ISO 9001:2015 and the designation of PharmaCielo as a Project of National Strategic Interest will have on PharmaCielo’s business; PharmaCielo’s ability to obtain EU-GMP compliance and the effect that obtaining EU-GMP compliance will have on PharmaCielo’s business; and PharmaCielo’s ability to export its products to international markets. The forward-looking statements in this news release are necessarily based on assumptions, including, without limitation, assumptions with respect to: PharmaCielo’s ability to execute its business plan as currently contemplated; PharmaCielo’s ability to maintain its distribution contracts in good standing; and PharmaCielo’s ability to obtain and maintain all licenses and approvals required to export its products from Colombia into international markets. Though management believes that its assumptions are reasonable in the circumstances, the actual results, performance or achievements of PharmaCielo’s business may be materially different from any future results, performance or achievements expressed or implied by any forward-looking statements herein. Forward-looking statements can be affected by known and unknown risks, uncertainties and other factors, including, but not limited to: changes to PharmaCielo’s development plans; the failure to obtain and maintain all necessary regulatory approvals relating to the export of cannabinoid products, including approval of the TSX Venture Exchange (the “TSXV”); the inability to export or distribute commercial products through sales channels as anticipated due to economic or operational circumstances; risks associated with operating in Colombia; risks associated with global economic instability relating to COVID-19; and other risks discussed or referred to under the heading “Risk Factors” in PharmaCielo’s Annual Information Form for the financial year ended December 31, 2019, which is available at 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.