PharmaCielo Announces Shipment of Pharmaceutical Grade Cannabis Extract to Customer in Uruguay
October 12, 2022
- This is PharmaCielo’s second pharmaceutical grade product shipment to a well-established Latin American pharmaceutical company with operations in Uruguay.
TORONTO, Canada and RIONEGRO, Colombia (October 12, 2022) – PharmaCielo Ltd. (“PharmaCielo” orthe “Company”) (TSXV: PCLO, OTCQX: PCLOF), the Canadian parent of Colombia’s premier cultivator and producer of dried cannabis flower and medicinal-grade cannabis extracts, PharmaCielo Colombia Holdings S.A.S. (“Holdings”), today announced that it has completed its second shipment of CBD Isolate to the Uruguayan subsidiary of a well-established Latin American pharmaceutical company, for additional pre-commercial testing.
Bill Petron, CEO of PharmaCielo, commented, “Our global business development team continues to make progress getting PharmaCielo’s products into the hands of potential customers in new markets, and turning those early relationships into commercial deals. We continue to expect the next twelve months to be a period of significant growth and value creation for our shareholders as the team executes on the Company’s growing sales pipeline.”
PharmaCielo Ltd. (TSXV: PCLO, OTCQX: PCLOF) is a global company, headquartered in Canada, with afocus on ethical and sustainable cultivating, processing and supply of all natural, pharmaceutical-grademedical dried cannabis flower and cannabis products to large channel distributors. PharmaCielo’s principal (and wholly owned) subsidiary is PharmaCielo Colombia Holdings S.A.S., headquartered at its cultivation and processing center 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 themedical cannabis industry, and the Company, together with its directors and executives, is executing on abusiness plan focused on supplying the international marketplace.
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Ian Atacan, Chief Financial Officer
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This news 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 such words and phrases or state that certain actions, events or results “may” or “will” be taken, occur or be completed orachieved.
Forward-looking statements can be affected by known and unknown risks, uncertainties and other factors, including changes to PharmaCielo’s development plans, the failure to obtain and maintain all necessaryregulatory approvals relating to the export of cannabinoid products and the import of these products into other countries, TSX Venture Exchange approval, 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, fluctuation of the market price for the Company’s products, risks associated with global economic instability relating to COVID-19 or other developments, risks related to retention of key Company personnel, currency exchange risk, competition in PharmaCielo’s market and other risks discussed or referred to under the heading “Risk Factors” in PharmaCielo’s Annual Information Form for the financial yearended December 31, 2019, which is available at www.sedar.com. Accordingly, readers should not placeundue reliance on forward-looking statements. Except as required by law, PharmaCielo undertakes noobligation to publicly update any forward-looking statements, whether as a result of new information, futureevents 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 pressrelease.