PharmaCielo Financial Results for the Fourth Quarter - During 2022, PharmaCielo made shipments to 23 clients in 9 countries, with continued growth expected for 2023.
- The Company's measured investments in revenue-generating sales channels resulted in revenues of $5.3 million in 2022, almost three-times more than the $1.9 million reported in 2021.
- Consistent progress on streamlining the business, to move toward profitability - 2022 SG&A expenses represent a 40% reduction vs. 2021, and were 65% lower compared to 2020.
- PharmaCielo's previously announced non-brokered private placement of debenture units will generate $6 million in additional capital through the end of Q3 2023.
All figures in Canadian dollars ($) unless otherwise specified
Toronto, Ontario and Rionegro, Colombia--(Newsfile Corp. - May 1, 2023) - PharmaCielo Ltd. (TSXV: PCLO) (OTCQX: PCLOF) ("PharmaCielo" or the "Company"), the Canadian parent of Colombia's premier cultivator and producer of dried flower and medicinal-grade cannabis extracts, PharmaCielo Colombia Holdings S.A.S., today announced financial results for the fourth quarter and year ended December 31, 2022.
PharmaCielo Announces Financial Results for the Fourth Quarter and Fiscal Year Ended December 31, 2022 (newsfilecorp.com)