- Shipped to existing Customer with operations in the U.K. and the E.U.
- THC-free broad-spectrum distillate from a single cultivar is a superior core formulation for nutraceutical and cosmetic formulations.
- PharmaCielo is among the few global producers that deliver broad-spectrum formulations produced from specially selected, developed and standardized cultivars to B2B customers at consistently high quality and commercial scale.
TORONTO, Canada and RIONEGRO, Colombia (February 18, 2021) – PharmaCielo Ltd. (“PharmaCielo” or the “Company”) (TSXV: PCLO, OTCQX: PCLOF), the Canadian parent of Colombia’s premier cultivator and producer of medicinal-grade cannabis extracts, PharmaCielo Colombia Holdings S.A.S., is pleased to announce that it has exported its first commercial shipment of THC-free broad-spectrum distillate to an existing customer with operations in the U.K. and the E.U. (the “Customer”). This higher-grade, higher-value extract delivery succeeds earlier shipments of 1,000Kg of CBD isolate PharmaCielo exported to this Customer in Q4-2020. This shipment of the broad-spectrum distillate marks PharmaCielo’s inaugural delivery of a new product out of its extended product portfolio (announced in late 2020) and complements earlier exports of the Company’s CBD isolate to the U.K., the U.S., Switzerland and other E.U. markets.
Henning von Koss, CEO of PharmaCielo, commented, “At PharmaCielo we believe that the industry will continue evolving towards the use of superior Active Pharmaceutical Ingredients such as full- and broad-spectrum extracts in favour of isolates. We have invested significant research behind our various cultivars, and each has been chosen and developed for different uses in the industry as it evolves. In today’s market it is common for producers to artificially compose the final product by combining CBD and other cannabinoid isolates until they reach the desired proportion and concentration. However, by extracting and processing THC-free broad-spectrum distillate from a single cultivar, we are enabling inclusion of the full and consistent expression power of the plant, commonly referred to as the entourage effect, in a superior input product that is more suitable for the nutraceutical and cosmetic industries. By doing so, PharmaCielo is pushing the boundaries in setting a new standard for the global industry.”
The primary origin of the CBD isolate which is widely used as the base product for various manufacturers’ formulations is non-standardized hemp. PharmaCielo THC-free broad-spectrum distillate, together with its other full- and broad-spectrum formulations, offers the full attributes and benefits of a single cannabis cultivar specially chosen and developed for that purpose. Coupled with consistency across batches and longer shelf-life (ingredient stability), this single-cultivar formulation makes the Company’s products the preferred input ingredient to be used in applications and products such as capsules, topicals, food and beverages as well as tinctures in the health/wellness and cosmetics sectors.
Distribution of THC-free broad-spectrum products by the Company under its interim sales agreement with the Customer is subject to the approval of the TSX Venture Exchange (the “TSXV”).
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., headquartered at its cultivation and processing centre 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 continued evolution of the cannabis industry toward the use of superior active pharmaceutical ingredients, the setting of a new standard by the Company for the cannabis industry and the evolution of the Company’s products for sale and export. 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, market demand for the Company’s products, that the Company will be able to achieve its desired objectives with respect to developing its products and the Company’s ability to obtain all necessary domestic and foreign regulatory approvals for production, export and sale of its products. 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 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, 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 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.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.