MEDELLÍN, Colombia (January 27, 2017) — In a historic initiative intended to support the transition of the regional Colombian economy following the peace agreement, PharmaCielo Colombia Holdings S.A.S. CEO Federico Cock-Correa and the legal representative of the Cooperative for the Unity of North Cauca (Cooperativa Caucannabis), Hector Sanchez, have signed an exclusive agreement to jointly cultivate medicinal cannabis in the department of Cauca, Colombia.
Formed in mid-2016, Cooperativa Caucannabis is a cooperative comprised of 53 regional farmers from five communities in the northeastern region of the Cauca department: Corinto, Toribío, Miranda, Caloto and Jambaló. The mayors of these five communities, led by the mayor of Corinto and with the support of the national government, encouraged the creation of this innovative alliance to unite the region’s cultivators in an association that could apply for a legal cultivation licence under the terms of recently announced Colombian legislation.
“Regional partnership with Cooperativa Caucannabis is a reflection of our commitment to leading Colombia’s newly formed cannabis industry in a way that should benefit the sectors that need it the most, such as Cauca’s communities,” said Federico Cock-Correa. “As fellow Colombians, we at PharmaCielo believe that it is essential to support indigenous and campesino communities and to jointly promote their development.”
In addition, Hector Sanchez said, "The implementation and formalization of this important and historic agreement will significantly benefit our community, and its hundreds of indigenous and campesino families whose activity, now within the law, will be the engine of social inclusion and development.”
Under the terms of the agreement, PharmaCielo and Cooperativa Caucannabis will jointly apply for a cannabis cultivation licence from the Government of Colombia, with the objective of uniting efforts and working together in the cultivation and harvesting of cannabis to be used for producing standardized medicinal-grade cannabis oil extracts and related products.
[Revised January 30, 2017.]
About PharmaCielo Ltd.
PharmaCielo Ltd. is a global company privately held and headquartered in Canada, with a focus on processing and supplying 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 Nursery and Propagation Centre located in Rionegro, Colombia.
The boards of directors and executive teams of both PharmaCielo and PharmaCielo Colombia Holdings 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 will play in building a sustainable business in the medical cannabis industry, and the company, together with its directors and executives, has built a compelling business plan focused on supplying the international marketplace.
This press release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or “recurring” or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors, such as demand for the Company’s products, currency exchange changes and risks, internal funding and the financial condition of the Company, product roll-out, competition, technological changes, and other commercial matters involving the Company, its products, and the markets in which the Company operates, as well as general economic conditions, which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Except as required by law, we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. However, any further disclosures made on related subjects in subsequent reports should be consulted.