PharmaCielo Partner Cooperativa Caucannabis Announces Receipt of Cannabis Cultivation Licence

RIONEGRO, Colombia and TORONTO, Canada (December 11, 2017) – PharmaCielo Colombia Holdings S.A.S. today announced that its Cauca department-based partner, Cooperativa Caucannabis, a collaborative of small growers, has received its licence for the cultivation of psychoactive cannabis from the Ministry of Justice. This announcement comes just six weeks after PharmaCielo Colombia was granted the first comprehensive cultivation licence in the country.

Under the licence, Cauca-based Cooperativa Caucannabis, comprised of 63 individual campesinos and indigenous growers, will immediately be able to begin cultivation of cannabis flowers for processing into oil extracts.

“We are very proud to stand together with the communities of Cauca and express our sincere gratitude to the Colombian government for its commitment to the people working to rebuild their lives and transition into profitable entrepreneurs in this post-conflict region,” said Federico Cock-Correa, CEO of PharmaCielo Colombia Holdings. “The inclusive approach of the government is equally significant, ensuring that Colombia’s indigenous communities, who have many decades and even centuries of experience cultivating ancient Colombian strains of cannabis for spiritual and medicinal use, have their rightful seat at the cannabis-industry table.”

Under the licence, Caucannabis will participate in Colombia’s legal cannabis oil extract industry by cultivating cannabis flowers in the Cauca department at the 3.6-hectare (387,684-square-foot) facility jointly established with PharmaCielo. Following harvest, these flowers will be processed into oil at PharmaCielo’s Rionegro facility.

Caucannabis representative Hector Sanchez stated: “On behalf of the campesinos and indigenous members of Cooperativa Caucannabis, I cannot express strongly enough how important this initiative will be to our region and to those who have struggled for many years to provide opportunities for their families under extremely challenging conditions. On behalf of all members, I thank PharmaCielo and the Colombian government for working with us on this important opportunity.”

About PharmaCielo Ltd.

PharmaCielo Ltd. is a global company privately held and headquartered in Canada, with a focus on processing and supplying 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 nursery and propagation centre located in Rionegro, Colombia.

The boards of directors and executive teams of both PharmaCielo and PharmaCielo Colombia Holdings 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 will play in building a sustainable business in the medical cannabis industry, and the company, together with its directors and executives, has built a compelling business plan focused on supplying the international marketplace.

This press release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or “recurring” or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors, such as demand for the Company’s products, currency exchange changes and risks, internal funding and the financial condition of the Company, product roll-out, competition, technological changes, and other commercial matters involving the Company, its products, and the markets in which the Company operates, as well as general economic conditions, which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. 

Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Except as required by law, we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. However, any further disclosures made on related subjects in subsequent reports should be consulted.