- Customer to use PharmaCielo's CBD Isolate for expanded
research and development of an innovative sublingual product
platform.
TORONTO and RIONEGRO,
Colombia, June 15, 2021 /CNW/ - 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., today announced
that it has made an initial shipment of CBD Isolate (the "Product")
to a Canadian life sciences company that specializes in developing
and commercializing proprietary drug-delivery technologies (the
"Customer"). The Customer intends to use PharmaCielo's Active
Pharmaceutical Ingredients (APIs) for expanded research and
development of their innovative, proprietary sublingual product
platform.
"We are very pleased to have partnered with this
well-established Canadian life sciences player to take an active
role in the development of its next generation innovative drug
delivery system," said Henning von
Koss, CEO of PharmaCielo. "A key part of our global B2B
strategy is to partner with the right product developers in key
markets and get into the supply chain early, based on our
high-quality formulations and ability to provide consistency at
scale. While it can take time for a new product to make it to
market, by partnering at the development stage, we are following a
well-established playbook from more advanced industries such as the
pharma, flavour and fragrance markets. We believe that early
involvement positions PharmaCielo's products as an integral part of
the value chain, with the potential for long-term margins
commensurate with that position."
Mr. von Koss continued, "We are actively building
out our sales organization and our current Canadian-based business
development professional is in ongoing discussions with several
potential customers in both the U.S. and Canada. As more traditional players such as
pharmaceutical and CPG companies continue to come to market, we
expect to see a growing demand for high quality product and
formulation expertise in the B2B channel, which will benefit
PharmaCielo."
About PharmaCielo
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 and climate play 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.
Forward-Looking Statements
This news release contains certain "forward-looking
information" and "forward-looking statements" (collectively
referred to as "forward-looking statements"). These forward-looking
statements relate to future events or the Company's future
performance. All statements other than statements of historical
fact are forward-looking statements. Particularly, information
regarding our expectations of future results, targets, performance
achievements, prospects or opportunities is forward-looking
information. Forward-looking statements in this news release
include, but may not be limited to, statements about: planned
shipments of the Company's products to Canada; the Customer's intended use of the
Company's product to develop specific product platforms or types of
products; the potential that early involvement of the Company's
products in the development of a customer's products will position
the Company as integral to that customer's value chain, or that
such positioning may create long-term margins for the Company; and
expectations that there will be growing demand for high-quality
product and formulation expertise in the B2B market or that this
will benefit the Company.
Forward-looking statements are based on management's
assumptions at the date the forward-looking statements are
provided, including assumptions regarding: the Company's ability to
execute its business plan, including the growth of its global sales
team, as currently contemplated; the Company's ability to obtain
necessary governmental, regulatory, and TSXV approvals for the
export of its products from Colombia and import of its products into other
countries; there being sufficient demand for the Company's
products; that the Company's development plans will not change as a
result of unforeseen events; that the Company's business generally
and shipping logistics are not disrupted by COVID 19 or other
factors; that the Company will be able to maintain its customer
contracts in good standing; that the Company will be able to obtain
GMP and EU-GMP certification for the Company's Processing and
Extraction Center ("PEC"); that potential customers will be
satisfied with the results of audit processes; that any changes to
Colombian cannabis legislation will not negatively impact the
Company's business; that the Company will be able to locate and
retain necessary personnel to achieve its business goals; the
Company's ability to maintain its distribution contracts in good
standing; and the accuracy of the Company's projections regarding
the market for cannabinoid products; currency exchange rates; and
competition in the Company's markets.
Though management believes that its assumptions are
reasonable in the circumstances, forward-looking statements involve
known and unknown risks, uncertainties and other factors that may
cause the Company's actual results, performance or achievements to
differ materially from all or any of the future results,
performance or achievements expressed or implied by forward-looking
statements. Factors that could cause the Company's actual results,
performance, or achievements to differ from the forward-looking
statements in this news release include, but may not be
limited to the risk that: any of the assumptions referred
to above proves not to be valid or reliable, and
additional risks described in the Company's Annual Information Form
for the year ended December 31, 2019
filed with the Canadian securities regulatory authorities under the
Company's SEDAR profile
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.
SOURCE PharmaCielo Ltd.