- The Customer is focused on medicine development, manufacture
and distribution, and is one of the first pharmaceutical players to
be fully licensed by the Brazilian Health Regulatory Agency
(ANVISA) to produce cannabis products in the country.
- Agreement covers two CBD-dominant formulations and two
THC-dominant formulations.
- Represents continued traction in the Brazilian market
following the Company's April
26th announcement that it had made initial
shipments to one of Brazil's
largest Phyto-Therapeutics companies as well as to a large
Pharmaceutical company in the market.
TORONTO and RIONEGRO,
Colombia, Aug. 4, 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 signed a sales agreement (the "Agreement") with a
cannabis-focused pharmaceutical player in the Brazilian market (the
"Customer"), following an on-site visit by the Customer during
July 2021. The Customer is present in
many countries in South America,
Europe and Asia, and is in the process of registering and
seeking to distribute its cannabis products in these markets in the
near-term.
The Agreement covers a selection of PharmaCielo products,
including CBD Isolate, CBD Full Spectrum, THC Full Spectrum and THC
Distillate. In conjunction with the Agreement, PharmaCielo made an
initial commercial sale of CBD Isolate to the Customer. The Company
expects to begin shipping additional CBD and THC formulations
during Q4 2021 once final product registrations and import permits,
are in place in Brazil.
Henning von Koss, CEO of
PharmaCielo commented, "Over the past several months, our
global business development team has made substantial progress
towards establishing long-term sales and product development
relationships in key markets, including Brazil. A key component of our global B2B
strategy is to partner with the right product developers and
suppliers in growth markets and to embed PharmaCielo APIs into the
supply chain early, based on our high-quality formulations and
ability to provide consistency at scale. The Customer is a key
player in the growing Brazilian medical market, and a perfect
example of the type of sophisticated product developer that we are
building solid partnerships with."
The CEO of the Customer added, "Our mission is to offer
high-quality cannabinoid products, manufactured with pharmaceutical
standards, at an affordable cost to patients. Having explored
partnerships with several other global cannabinoid suppliers,
PharmaCielo stands out in its ability to immediately bring a
robust, high quality product shelf to the company, as well as
value-added formulation expertise, and all at an impressive scale.
We very much look forward to deepening our relationship as we
continue to grow our global operations."
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.