Colombian Government Passes Regulation to Enable Dried Flower Export and Expand Industrial Applications for CBD-Based Products

• PharmaCielo expects to start exporting dried flower within the first half of 2022, with volumes rising by the rest of the yr.

• The Firm’s upstream and downstream scale and high quality uniquely place it to be a formidable competitor with psychoactive flower at present being imported into the EU and different markets from Canada and different producing nations.

• The brand new regulation additionally creates better authorized readability, supplies quotas for a brand new low-THC extract class and affords producers new enterprise alternatives.

TORONTO, Canada and RIONEGRO, Colombia, Feb. 20, 2022 /CNW/ – PharmaCielo Ltd. (“PharmaCielo” or the “Firm”) (TSXV: PCLO) (OTCQX: PCLOF), the Canadian guardian of Colombia’s premier cultivator and producer of dried flower and medicinal-grade hashish extracts, PharmaCielo Colombia Holdings S.A.S. (“Holdings”), right this moment welcomed the Colombian Authorities’s passing of Regulation 227 (the “Regulation”), which goals to make the nation’s hashish trade extra aggressive on a worldwide scale. In July 2021, the Colombian authorities signed Decree 811 into regulation. The federal government’s announcement right this moment introduces a set of sensible rules implementing the authorized provisions of Decree 811 that, amongst different essential advances, will allow PharmaCielo and different producers to start exporting dried flower and entry further alternatives for CBD-based merchandise. Within the coming weeks, the Colombian authorities is predicted to launch additional technical industrial pointers.

With the GACP¹ designation already in place, and the flexibility to re-allocate a part of its present 50 tonne quota towards dried flower, PharmaCielo expects that it’s well-positioned to start exporting dried flower through the first half of 2022, with volumes rising by the rest of the yr.

Administration Commentary

Invoice Petron, CEO of PharmaCielo, commented, “The passing of the Regulation 227 is a historic improvement for the Colombian hashish trade, opening the big and rising international dried flower market in addition to a number of CBD-based alternatives, to Colombian producers. The Colombian authorities has constantly demonstrated its want to construct this trade into a worldwide chief, and in our opinion the announcement right this moment makes Colombia probably the most export-friendly and aggressive jurisdiction on the planet. Dried flower accounts for as much as 50% market share in most mature hashish markets globally, and represents an enormous alternative each for the Colombian trade, and PharmaCielo. With scalable cultivation and processing capability in place, a structural price benefit, and the sophistication to make sure constantly high-quality merchandise, PharmaCielo is positioned to seize market share towards present worldwide exports from markets like Canada.”

Story continues

Mr. Petron continued, “The federal government’s revised strategy to the quota system will each guarantee pace to market, in addition to better effectivity all through the gross sales course of. We anticipate 2022 to be a really thrilling yr of development for PharmaCielo, as we launch and broaden dried flower exports, bringing international sufferers entry to top quality, reasonably priced medical hashish merchandise.”

About PharmaCielo

PharmaCielo Ltd. (TSXV: PCLO, OTCQX: PCLOF) is a worldwide firm, headquartered in Canada, with a give attention to moral and sustainable processing and supplying of all pure, pharmaceutical-grade medical hashish merchandise to massive channel distributors. PharmaCielo’s principal (and wholly owned) subsidiary is PharmaCielo Colombia Holdings S.A.S., headquartered at its cultivation and processing middle situated in Rionegro, Colombia.

The board of administrators and government workforce of PharmaCielo are comprised of a diversely proficient group of worldwide enterprise executives and specialists with related and diversified experience. PharmaCielo acknowledged the numerous position that Colombia’s perfect location performs in constructing a sustainable enterprise within the medical hashish trade, and the Firm, along with its administrators and executives, is executing on a marketing strategy targeted on supplying the worldwide market.

For additional info:

Ian Atacan, Chief Monetary Officer
+1 416-562-3220
[email protected]

Media and Investor Inquires:
[email protected]

Ahead-Wanting Statements

This information launch comprises forward-looking statements. Ahead-looking statements could be recognized by way of phrases comparable to “expects”, “is predicted”, “intends”, “anticipates”, “believes”, or variations of such phrases and phrases or state that sure actions, occasions or outcomes “might” or “will” be taken, happen or be accomplished or achieved. Ahead-looking statements on this information launch embrace, with out limitation, statements relating to the issuance of the Models, together with the phrases thereof and the deadline therefor.

The forward-looking statements on this information launch are essentially based mostly on assumptions, together with assumptions with respect to PharmaCielo’s capacity to acquire mandatory approvals for the issuance of the Models.

Ahead-looking statements could be affected by recognized and unknown dangers, uncertainties and different components, together with modifications to PharmaCielo’s improvement plans, the failure to acquire and preserve all mandatory regulatory approvals regarding the export of cannabinoid merchandise and the import of those merchandise into different nations, TSX Enterprise Trade approval, the lack to export or distribute industrial merchandise by gross sales channels as anticipated as a consequence of financial or operational circumstances, dangers related to working in Colombia, fluctuation of the market value for the Firm’s merchandise, dangers related to international financial instability regarding COVID-19 or different developments, dangers associated to retention of key Firm personnel, forex trade threat, competitors in PharmaCielo’s market and different dangers mentioned or referred to beneath the heading “Danger Components” in PharmaCielo’s Annual Info Type for the monetary yr ended December 31, 2019, which is offered at www.sedar.com. Accordingly, readers mustn’t place undue reliance on forward-looking statements. Besides as required by regulation, PharmaCielo undertakes no obligation to publicly replace any forward-looking statements, whether or not on account of new info, future occasions or in any other case.

Neither the TSX Enterprise Trade nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Trade) accepts duty for the adequacy or accuracy of this press launch.

SOURCE PharmaCielo Ltd.

View unique content material: http://www.newswire.ca/en/releases/archive/February2022/20/c9913.html