- PharmaCielo to begin trading on the TSX Venture Exchange
("TSXV" or "TSX Venture") under the Ticker PCLO at market open
today, January 18, 2019.
- In the process of scaling its area under current cultivation
from 5.3 hectares of open-air greenhouse (~570,487 ft2)
to approximately 20 hectares (~2.15 million ft2) by the
end of 2019.
- Approximately 139 hectares (~15 million feet2) of
total cultivation capacity, currently.
- Currently producing medicinal grade CBD- and THC-dominant
cannabis oil extracts in a temporary facility.
- Expects to complete construction of its 2,300 m2 (24,757 ft2)
GMP2 certified Research and Technology Centre oil
processing and product innovation facility during Q2-2019.
- Positioned to begin scale distribution and sales during
2019.
- Well-capitalized to execute 2019 objectives, with
$31.4 million USD in
cash.1
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:
- Scaling the Company's area under current cultivation from
5.3 hectares of open-air greenhouse (~570,487 ft2)
to approximately 20 hectares (~2.15 million ft2);
- Completion of its 2,300
m2 (24,757 ft2) GMP2
certified Research and Technology Centre oil processing and product
innovation facility;
- Receipt of registration from the Colombian Ministry of
Agriculture for multiple cannabis strains – confirming unrestricted
ownership of unique plant genetics for mass cultivation and oil
extraction;
- Commencement of cannabis oil product sales in key markets for
revenue generation;
- Confirming agreements with Colombian distributors and
end-product manufacturers, to bring consumer products to
market;
- Finalizing relationships with distributors and end-product
manufacturers in select international jurisdictions, to bring
products to market;
- Receipt of ISO 9001 certification for quality management
systems (QMS), confirming operational veracity without review for
customers;
- Opening of the Company's first bannered Clínica
co-located with Centro Oncológico de Antioquia (COA), part of an
oncology practitioner network with complementary objectives focused
on treatment of 5 million patients.
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
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December 31
2018
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2
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GMP (Good
Manufacturing Practices) as defined by the World Health
Organization (WHO) Expert Committee on Specifications for
Pharmaceutical Preparations
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SOURCE PharmaCielo