PharmaCielo (TSXV:PCLO) Granted Export Permit; Supplied First CBD Shipment to Switzerland
Toronto-listed PharmaCielo Ltd. (TSXV: PCLO), a leading supplier of naturally grown and processed medicinal-grade cannabis oil and related products, has completed Colombia’s first-ever commercial export of CBD isolate to Switzerland, announcing recently that the shipment arrived safely.
In July, the Colombian government granted its first CBD isolate export permit to PharmaCielo, and as a result, the firm quickly made a move to ship its first batch to Switzerland-based Creso Pharma, an Australian pharmaceutical company it is in the process of acquiring. Once it’s finalized, the acquisition of Creso Pharma will help PharmaCielo expand into higher-margin, branded product sales faster.
Creso Pharma Ltd. is a global medicinal cannabis company that focuses on developing, registering, and commercializing innovative cannabis and hemp-derived products, with its main operations in Switzerland. The firm has listings in 13 countries for its range of products.
PharmaCielo executive David Attard spoke to the symbolism of the inaugural shipment.
“PharmaCielo is the first medicinal cannabis company to commercially export cannabis derived isolates from Colombia to Switzerland, the global capital of the pharma industry,” he said. “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.”
In a recent interview with Business of Canada, David Gordon, Chief Corporate Officer of PharmaCielo, described the regulatory process and how long it took to get the green light from Columbian officials.
“In this instance, it took us about 4+ months of working on a daily basis with the government, because no one’s asked them before, so they’re trying to figure out what’s the answer. The permission to export– we received the original permission when we were granted our license, but to finalize that you’ve got to do it, got to fulfill certain obligations…”
PharmaCielo has positioned itself as Colombia’s premier cultivator and producer of medicinal-grade cannabis oil. It recently announced further sales outreach of its products, which will cover Uruguay, Paraguay, Bolivia, and southern Brazil with distributor Laboratorios Adler, and Europe as well.
When the acquisition of Creso Pharma is complete, PharmaCielo leaders say they envision creating a company that will be a powerhouse on the global medicinal cannabis market.
Dr. Miri Halperin Wernli, the co-founder and CEO of Creso Pharma, who will join the board, also weighed in on the benefits of the acquisition deal.
“The quality and scale of PharmaCielo’s cultivation and oil extraction operations in Colombia complements our focus on meeting global demand for the highest quality CBD- and THC-based therapeutic, nutraceutical and animal health products through increased access to the necessary quality and volume of oil production. This arrangement with PharmaCielo is an incredible opportunity for Creso Pharma shareholders to benefit from being part of a best-in-class and well-capitalized global medicinal cannabis company.”