PharmaCielo Signs Sales Agreement and Makes Initial Commercial Sale to Pharmaceutical Player in Brazil
- 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.
- The 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 and a large Pharmaceutical company in the market.
TORONTO, Canada and RIONEGRO, Colombia (August 4, 2021) – 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 had 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 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 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.”
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 center 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 Colombia’s ideal location and climate play in building a sustainable business in the medical cannabis industry. Together with its directors and executives, the company is executing a business plan focused on supplying the international marketplace.
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