Canada NewsWire
RIONEGRO, Colombia, Aug. 2, 2019
RIONEGRO, Colombia, Aug. 2, 2019 /CNW/ - The executive management team of PharmaCielo Ltd. (TSXV:PCLO, OTC:PHCEF) is pleased to announce the appointment of a new Board of Directors for its wholly owned subsidiary, PharmaCielo Colombia Holdings S.A.S., ("PharmaCielo Colombia" or the "Company") the premier cultivator and producer of medicinal-grade cannabis oils and extracts in Colombia. The new Board consists of a diversified group of experts with domestic and international business, trade, agriculture and healthcare expertise. The Board's mandate is focused on PharmaCielo Colombia operations, domestic growth and regulatory relationships in support of the continued international expansion of the parent company. The appointment of the new Board members is subject to TSX Venture Exchange approval.
"I am thrilled to start working alongside this great and eclectic group of experts to help navigate PharmaCielo Colombia's operations and growth in this evolving and ever-changing regulatory sector," said Carlos Manuel Uribe, Chair of the Board. "The Board also acknowledges the role PharmaCielo Colombia plays in enabling the international expansion of the parent company. As such, we are fully aligned with the global management team and will work in synergy toward our common business objective – becoming the global leader and provider of medicinal cannabis oils and derived products."
Of special note is that nearly half of the newly appointed Board members of PharmaCielo Colombia are businesswomen, further cementing the Company's longstanding and ongoing commitment to promote diversity and inclusivity within its ranks.
"The original Board of Directors made a significant contribution to the establishment of the subsidiary company in its early days, for which they must be recognized and thanked," said David Attard, PharmaCielo Ltd. CEO. "We appreciate their contributions as well as the fact that those individuals remain strongly supportive of the company, even as the business continues to develop and grow, with ever-evolving needs for support."
Members of the PharmaCielo Colombia Board of Directors
The new Board members are:
The following Board members will continue as members of the Board:
About PharmaCielo
PharmaCielo Ltd. (TSXV:PCLO, OTC:PHCEF) is a global company, headquartered in Canada, with a focus on ethically and sustainably 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, is executing on a business plan focused on supplying the international marketplace.
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.
Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements can be identified by the use of words such as, "expects", "is expected", "intends", "believes", or variations of such words and phrases or state that certain actions, events or results "may" or "will" be taken, occur or be achieved. Forward-looking statements include statements with respect to the approval of the new Board members by the TSXV and the international expansion of the operations of PharmaCielo Ltd. Forward-looking statements are based on assumptions, including with respect to PharmaCielo's planned products, and the ability to execute its business plan that management believes are reasonable in the circumstances, but the actual results, performance or achievements of PharmaCielo's business may be materially different from any future results, performance or achievements expressed or implied by any forward-looking statements. Forward-looking statements can be affected by known and unknown risks, uncertainties and other factors, including, but not limited to, the equity markets generally, risks associated with early stage companies, risks associated with the regulation of cannabis and cannabinoid derivatives, failure to obtain necessary TSXV approval, competition for PharmaCielo's planned products, risks associated with operating in Colombia, and currency exchange risk. 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.
SOURCE PharmaCielo Ltd.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/August2019/02/c4700.html