PharmaCielo Files Application for Licenses to Cultivate and Process Medicinal-grade Cannabis Extracts in Colombia

Feb 03, 2016, 04:00 ET from PharmaCielo

TORONTO, Feb. 3, 2016 /PRNewswire/ - PharmaCielo Ltd. today announced that its wholly-owned subsidiary, Rionegro, Colombia based PharmaCielo Colombia Holdings S.A.S. has submitted its formal application to the Ministry of Health and the National Drugs Council to become a licensed grower and processor of medicinal-grade cannabis oil extracts, with plans to file an additional license application for export in the near future.

This announcement comes after President Juan Manuel Santos signed regulatory Decree 2467, on December the 22nd, 2015, establishing a licensing framework for the cultivation, processing, research and development and exportation of cannabis derivatives for scientific and medical purposes. 

"It is our goal to become the world's leading supplier of naturally grown high-quality medicinal-grade cannabis oil extracts and there is no better location to do so than Colombia," said Jon Ruiz, Director and CEO of PharmaCielo Ltd. "The country's equatorial location, and its plethora of ideal microclimates leave little doubt that Colombia will play a massive role in this rapidly developing international industry."

Colombia is arguably the most economically advantageous country in the world when it comes to the production of large volumes of high-quality, low-cost cannabis based in large part on its expertise in the flower industry, knowledgeable and skilled labor force, environmental conditions and supportive government.    

"The actions of the Government of Colombia demonstrate not only their bold commitment to the development of the Colombian economy, but also to the safety and well-being of the people of Colombia," Mr. Ruiz stated.  "We would very much like to be a part of this new economic sector and believe that with our business plan we will be a responsible partner for the government."

The Ministry of Health and the National Drugs Council will be reviewing the applications for growing and processing licenses. PharmaCielo Ltd. looks forward to the next steps, and anticipates having more announcements in the coming months.

About PharmaCielo:

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, finished goods producers, research organizations and pharmaceutical companies.

The board of directors and executive team of PharmaCielo Ltd. are comprised of a diversely talented group of international business executives and specialists with expertise in security, quality and plant growth 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 is a wholly-owned subsidiary of PharmaCielo Ltd. based in Rionegro, Colombia.

SOURCE PharmaCielo