- Commercial shipment delivers CBD isolate to Switzerland-based Creso Pharma
- Company executed overseas commercial delivery weeks after securing the first commercial exporting permit from Colombian government announced July 25
- Delivery demonstrates potential synergies between the two companies
TORONTO and CHAM, Switzerland, Aug. 19, 2019 /CNW/ - PharmaCielo Ltd. ("PharmaCielo" or the "Company") (TSXV:PCLO, OTC:PHCEF), the Canadian parent of Colombia's premier cultivator and producer of medicinal-grade cannabis oil, PharmaCielo Colombia Holdings S.A.S., confirmed today it successfully completed the first commercial export of CBD isolate to Europe.
The inaugural shipment of the high quality CBD isolate, a key ingredient in various cannabis derived therapeutic, nutraceutical, topicals and lifestyle products, was delivered to the Swiss headquarters of Creso Pharma, a global pharmaceutical with expertise in cannabis- and hemp-derived products for human and veterinarian use. This comes on the heels of the Colombian government granting the first commercial CBD isolate exporting permit to PharmaCielo, as announced on July 25, 2019.
"This inaugural shipment is symbolic on many levels. PharmaCielo is the first medicinal cannabis company to commercially export cannabis derived isolates from Colombia to Switzerland - the global capital of the pharma industry. Particularly pleasing is the fact that the first batch we ever exported went to Creso Pharma, our trusted partner soon to be part of our Company," said David Attard, CEO at PharmaCielo Ltd. "PharmaCielo's ability to successfully navigate the complex exporting process gives us a tremendous advantage in the market, as required for continuing exports from Colombia of cannabis derived extracts and crystals. It also demonstrates the synergies between the Company and Creso Pharma that will be realized and augmented once the acquisition closes."
The collaboration between PharmaCielo and Creso Pharma spans beyond the current and future supply of cannabis isolate and oil extracts. PharmaCielo recently announced a multi-country sales agreement with Uruguay-based Laboratorios Adler in which the Company will supply both PharmaCielo produced CBD isolate and Creso Pharma's veterinarian CBD complementary feed range of products to Adler for distribution in Uruguay, Paraguay, Bolivia and Southern Brazil.
"PharmaCielo's CBD isolate meets the highest purity standards in the industry, a critical element that aligns with our commitment to develop and produce the highest quality cannabis-based therapeutic and nutraceutical products for humans and animals," said Dr. Miri Halperin Wernli, Co-Founder and Chief Executive Officer with Creso Pharma. "PharmaCielo's unparalleled cultivation of proprietary varieties, when combined with recently expanded production capabilities, produces high quality isolate and oil extracts in an unmatched, and winning, offering."
PharmaCielo Ltd. (TSXV:PCLO, OTC:PHCEF ) 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 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, is executing on a business plan focused on supplying the international marketplace.
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.
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 include statements with respect to an increase in the global medicinal demand for CBD cannabis, the ability of PharmaCielo to fulfill global demand for pure CBD medicinal cannabis oil extracts, the distribution of PharmaCielo's CBD products into Uruguay and other countries, the acquisition of Creso Pharma by PharmaCielo, an anticipated demand for PharmaCielo's CBD products in Uruguay, Paraguay, Bolivia and Southern Brazil and PharmaCielo obtaining TSXV approval for its contemplated activities. Forward-looking statements are based on assumptions, including with respect to the ability to obtain all necessary governmental regulatory and TSXV approval related to the exportation of PharmaCielo CBD products from Colombia into Uruguay, Paraguay, Bolivia and Southern Brazil, the ability of PharmaCielo and Creso Pharma to satisfy or waive the conditions precedent to the acquisition of Creso Pharma, and the ability to execute its business plan that management believes are reasonable in the circumstances, but 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. Forward-looking statements can be affected by known and unknown risks, uncertainties and other factors, including, but not limited to, the equity markets generally, risks associated with early stage companies, risks associated with the regulation of cannabis and cannabinoid derivatives, failure to obtain necessary TSXV approval, the acquisition of Creso Pharma may not be able to be completed, or that anticipated synergies for the combined entity will not be as anticipated, competition for PharmaCielo's planned products, risks associated with operating in Colombia, and currency exchange risk. 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.
SOURCE PharmaCielo Ltd.
For further information: David Gordon, Chief Corporate Officer, +1.416.864.6116, www.PharmaCielo.com; Media Relations: International: Gal Wilder, Cohn & Wolfe, +1.647.259.3261, [email protected]; Colombia: María Paula Peña Fdz., SPR GROUP S.A., PBX: 57-1 2877234, [email protected]; Investor Inquiries: [email protected]