Canada NewsWire
TORONTO, Jan. 18, 2019
TORONTO, Jan. 18, 2019 /CNW/ - PharmaCielo Ltd. ("PharmaCielo" or the "Company"), the Canadian parent of Colombia's premier cultivator and producer of medicinal-grade cannabis oil (PharmaCielo Colombia Holdings S.A.S.), will be opening the TSX Venture Exchange ("TSXV") today, on the Company's first day of trading under the symbol "PCLO" as announced January 9, 2019.
David Attard, CEO of PharmaCielo commented, "2019 will be an exciting year for PharmaCielo shareholders. We have constructed a platform with the sophistication and scale to rapidly become a value-added provider of cannabinoid inputs to some of the world's largest organizations. Global, consumer-facing companies are accustomed to supply chain partners that can provide inputs of consistently high quality, in large volume. As the most sophisticated and scalable cannabis producer in South America, PharmaCielo is ready to meet these requirements and to create significant value for shareholders and partners, in the process."
Attard continued, "We are on strong footing as we launch scale production and sales in 2019. The Company is already producing medicinal-grade cannabis oil, is well capitalized and has near-term revenue opportunities both in Colombia and target international jurisdictions."
During fiscal 2019, PharmaCielo will focus on:
About PharmaCielo
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.
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.
Forward-Looking Statements
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 the Listing, completion of construction of the Research and Technology Centre oil processing and product innovation facility, timing of revenue generated from the sale of cannabis, expansion of cultivation capabilities, completion of the Transaction with UBIQUO, opening additional UBIQUO clinics, and developing business relationships domestically and internationally. Forward-looking statements are based on assumptions, including with respect to PharmaCielo's planned products, 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, 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.
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1 | December 31 2018 |
2 | GMP (Good Manufacturing Practices) as defined by the World Health Organization (WHO) Expert Committee on Specifications for Pharmaceutical Preparations |
SOURCE PharmaCielo
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