- Colombia's only CBD-dominant
strain meeting WHO purity standards among strains approved
- Establishes unique competitive advantage as sole licensed
producer in Colombia of
non-psychoactive strain
- WHO clarification regarding CBD expected to increase global
medicinal demand
- PharmaCielo has additional 20 strain applications in process
awaiting approval
TORONTO and RIONEGRO,
Colombia, Feb. 6, 2019 /CNW/ - PharmaCielo
Ltd. ("PharmaCielo" or the "Company")
(TSXV:PCLO), the Canadian parent of Colombia's premier cultivator and producer of
medicinal-grade cannabis oil, PharmaCielo Colombia Holdings S.A.S.,
announced today that its Colombian subsidiary has received approval
for the listing of 10 proprietary and unique tetrahydrocannabinol
(THC) and cannabidiol (CBD) strains with the national cultivar
registry. The Company can now proceed to commercial registration,
production and sale of these strains within Colombia as well as for export to global
markets.
"Approval of these strains strengthens and confirms
PharmaCielo's position as the leading producer in Colombia," said Federico Cock-Correa, President and CEO of
PharmaCielo Colombia Holdings S.A.S. "Among those approved is an
historic and unique CBD-dominant strain approved for commercial
registration and sourced from the Colombian landrace strains held
within our fuente semillera,1 the first and only
one of its kind registered in Colombia."
Dr. Delon Human, Global Head,
Health and Innovation, added that "the commercial value of this
20:1 CBD primary strain is of particular significance with the
recent clarification by the World Health Organization (WHO) that
medicinal CBD is not regulated under international
convention.2 The intensity of the CBD strain
profile allows us to efficiently fulfill strong global demand for
pure CBD medicinal cannabis oil extracts, which we expect to
dramatically increase over the next several years for this strain,
as it meets both market and import requirements."
The process of registering strains in Colombia is lengthy and extensive. Up to five
months of regulated field trials are required, including rigorous
data collection and analysis, prior to approval for registration
for commercial cultivation. The process from beginning to
completion can last several years. PharmaCielo has completed the
regulatory process and received strain approval from the technical
directorate of the ICA (Colombian Institute of Agriculture),
representing a diverse range of chemotypes, with various ratios of
CBD to THC. Upon approval, strains may be registered for
commercial production and quota issuance based on demonstrated
market demand.
"The registration of these ten strains of varying THC to CBD
ratios, including the CBD-dominant strain, is a singular moment, as
it is the first and only strain registered by the Colombian
government for the legal production of CBD oils under a
non-psychoactive licence," Mr. Cock-Correa added. "As the owner of
the leading seed bank held by any LP in Colombia, with an additional 20 commercial
strains in the final stages of the registration process, these
approvals evidence the value of our bank and the ability to meet
current and future domestic and international market needs without
challenge."
About PharmaCielo
PharmaCielo Ltd. (TSXV:PCLO) 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.
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 to an
increase in the global medicinal demand for CBD cannabis, the
timing of approval or the receipt at all of approval of the
additional 20 strain applications awaiting approval, the ability of
PharmaCielo to fulfill global demand for pure CBD medicinal
cannabis oil extracts, and the timing of the registration of the 10
strains with the national cultivar registry. 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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PharmaCielo's
fuente semillera is a licensed seed or germplasm bank
authorized by the Colombian Government. The ability to
establish a bank closed on December 31, 2018. Licensed Producers
(LPs) without a registered bank are required to buy commercially
registered varieties from licensed breeders or from other LPs and
thus are at significant competitive disadvantage. PharmaCielo has
186 Colombian landrace strains registered in its bank, from which
all future commercial cultivation strains will be
sourced.
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2
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https://www.who.int/medicines/access/controlled-substances/UNSG_letter_ECDD41_recommendations_cannabis_24Jan19.pdf
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SOURCE PharmaCielo