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PharmaCielo Signs Sales Agreement and Makes Initial Commercial Sale to Pharmaceutical Player in Brazil

V.PCLO

TORONTO and RIONEGRO, Colombia, Aug. 4, 2021 /CNW/ - 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 has 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.

PharmaCielo Ltd. logo (CNW Group/PharmaCielo Ltd.)

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 place 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 to 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."

About PharmaCielo

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 centre 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 that Colombia's ideal location and climate 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.

Forward-Looking Statements

This news release contains certain "forward-looking information" and "forward-looking statements" (collectively referred to as "forward-looking statements"). These forward-looking statements relate to future events or the Company's future performance. All statements other than statements of historical fact are forward-looking statements. Particularly, information regarding our expectations of future results, targets, performance achievements, prospects or opportunities is forward-looking information. Forward-looking statements in this news release include, but may not be limited to, statements about: planned shipments of the Company's products to Canada; the Customer's intended use of the Company's product to develop specific product platforms or types of products; the potential that early involvement of the Company's products in the development of a customer's products will position the Company as integral to that customer's value chain, or that such positioning may create long-term margins for the Company; and expectations that there will be growing demand for high-quality product and formulation expertise in the B2B market or that this will benefit the Company.

Forward-looking statements are based on management's assumptions at the date the forward-looking statements are provided, including assumptions regarding: the Company's ability to execute its business plan, including the growth of its global sales team, as currently contemplated; the Company's ability to obtain necessary governmental, regulatory, and TSXV approvals for the export of its products from Colombia and import of its products into other countries; there being sufficient demand for the Company's products; that the Company's development plans will not change as a result of unforeseen events; that the Company's business generally and shipping logistics are not disrupted by COVID 19 or other factors; that the Company will be able to maintain its customer contracts in good standing; that the Company will be able to obtain GMP and EU-GMP certification for the Company's Processing and Extraction Center ("PEC"); that potential customers will be satisfied with the results of audit processes; that any changes to Colombian cannabis legislation will not negatively impact the Company's business; that the Company will be able to locate and retain necessary personnel to achieve its business goals; the Company's ability to maintain its distribution contracts in good standing; and the accuracy of the Company's projections regarding the market for cannabinoid products; currency exchange rates; and competition in the Company's markets.

Though management believes that its assumptions are reasonable in the circumstances, forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements to differ materially from all or any of the future results, performance or achievements expressed or implied by forward-looking statements. Factors that could cause the Company's actual results, performance, or achievements to differ from the forward-looking statements in this news release include, but may not be limited to the risk that: any of the assumptions referred to above proves not to be valid or reliable, and additional risks described in the Company's Annual Information Form for the year ended December 31, 2019 filed with the Canadian securities regulatory authorities under the Company's SEDAR profile at www.sedar.com. 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.

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.

SOURCE PharmaCielo Ltd.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/August2021/04/c7480.html