RIONEGRO, Colombia/TORONTO, Canada (July 4, 2016) – Following receipt from the Colombian government of the first-ever licence to process cannabis plants for medical and scientific purposes on June 28th, PharmaCielo has announced its wholly owned subsidiary, Rionegro, Colombia-based PharmaCielo Colombia Holdings S.A.S., has submitted a licence application to cultivate cannabis plants at its 27-hectare nursery and propagation centre in Rionegro, Colombia.
“Receiving the cultivation licence is the next essential step for the company to achieve our goal to become Colombia’s first fully integrated licensed grower and manufacturer of cannabis oil extracts,” explained President and CEO Dr. Patricio Stocker, who also explained the licensing process. “Decree 2467 signed by President Santos in December 2015 established a multi-stage licensing framework, with receipt of the manufacturing licence a mandatory requirement prior to application for the cultivation licence.”
On receipt of its licence to process cannabis plants for medical and scientific purposes, the company has continued its process of addressing a number of licence requirements at its nursery and propagation centre, including security and operational infrastructure enhancements, in anticipation of receipt of the cultivation licence. These include the following:
“The experienced flower growers at our nursery are looking forward to the new challenge of cultivating feeder stock cannabis flower to support our planned oil processing activities,” said Federico Cock-Correa, CEO of PharmaCielo Colombia Holdings S.A.S. “Their experience in strain selection and cultivation will enable us to maximize both cultivation and processing yields.”
The application is under review by the Colombian government, prior to issuance of a cultivation licence. PharmaCielo Ltd. looks forward to the next steps, and anticipates having more announcements in the near future.
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 of standardized medical cannabis products.
The boards of directors and executive teams of PharmaCielo Ltd. and PharmaCielo Colombia are comprised of a diversely talented group of international business executives and specialists with the relevant expertise to ensure long-term success. The team recognized the significant role Colombia’s ideal location would play in building a sustainable business in the medical cannabis industry and has built a strong business plan focused on supplying the international medical marketplace.
PharmaCielo Colombia Holdings S.A.S., a wholly owned subsidiary of PharmaCielo Ltd., is headquartered at the company’s Nursery and Propagation Centre in Rionegro, Colombia.
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