PHARMACIELO Ltd. (“PharmaCielo” or the “Company”) (TSXV: PCLO) (OTCQX: PCLOF), the Canadian parent of Colombia’s premier cultivator and producer of dried flower and medicinal-grade cannabis extracts, PharmaCielo Colombia Holdings S.A.S. (“Holdings”), today announced that it has signed an investment agreement (the “Agreement”) with Soteria Holdings Limited (“Soteria”), a UK based portfolio company of Artemis Growth Partners, an established ESG and impact investor focused on the global cannabis industry.
Under the terms of the Agreement, Soteria’s Polish operating subsidiary will apply for a number of licenses to import and wholesale the Company’s medical cannabis flower and extracts in the Polish market. In addition, Soteria’s Polish subsidiary will support a group of the country’s leading medical cannabis professionals to provide education and training programs to doctors in Poland looking to prescribe medical cannabis to their patients.
Management Commentary
Bill Petron, CEO of PharmaCielo, commented, “We are pleased to partner with Soteria to bring high quality PharmaCielo dried flower and extracts to patients in Poland and build a pathway to the rest of Europe. With the opening of high THC dried flower exports from Colombia, Europe is a core focus.
“The EU is becoming one of the most important markets in global cannabis, and Poland currently has one of the largest, fastest growing patient populations in the region. PharmaCielo’s upstream and downstream scale and quality uniquely position the Company to be a formidable competitor with current higher cost psychoactive flower imports into Europe, and as a result we expect this to be an important growth driver for the business.”
