TORONTO, May 29, 2019 /CNW/ – PharmaCielo Ltd. (“PharmaCielo” or the “Company“) (TSXV:PCLO), the Canadian parent of Colombia’s premier cultivator and producer of medicinal-grade cannabis oil, PharmaCielo Colombia Holdings S.A.S., announced today that it has enlisted former U.S. congressman and long-time medical cannabis advocate Dana Rohrabacher as a special advisor to the Company.
“Our team has received accelerated interest from players in several legal U.S. states in recent weeks as the legal structure of medicinal cannabis continues to evolve across the country,” said David Attard, Chief Executive Officer of PharmaCielo. “We believe the U.S. is a significant prospective market for PharmaCielo, particularly on the CBD side in the near term, and we are delighted that Rep. Rohrabacher has agreed to join our team as a special advisor. Rep. Rohrabacher has been one of the most passionate advocates and influential forces in support of legalized medical cannabis in the U.S., and we expect his unparalleled knowledge and experience with understanding the legislative environment to be invaluable to the company for U.S. sales execution.”
Dana Rohrabacher started his political career as President Ronald Reagan’s special assistant and speechwriter. He was elected as a U.S. representative from the state of California District 42 in 1988 and served in Congress for nearly three decades. Rep. Rohrabacher is a well-known advocate for the legalization of medical cannabis and protection of medical cannabis patients’ rights. He was one of the driving forces behind the Rohrabacher-Farr Amendment, pivotal legislation that became a milestone in the legalization of medical cannabis at the crossroads between state and federal levels. Rep. Rohrabacher was also one of the two Republican cofounders of the Congressional Cannabis Caucus.
“As we look at the medicinal benefits of cannabis, with a particular emphasis on its oil extracts, the United States needs to be able to guarantee our citizens have access to the finest products available from the global and domestic communities alike,” said Rep. Rohrabacher. “Having visited the PharmaCielo facilities and seen firsthand the standards to which they produce and process oil extracts, I am very engaged in helping them to understand U.S. federal and state policy and patient medicinal needs, and helping to address those needs in the future while continuing to set high quality standards for the global marketplace overall.”
With the appointment of Dana Rohrabacher as special advisor, PharmaCielo continues to bolster its roster of international advisors to support its expansion into global markets, which has included a number of notable experts including financial expert Jim Rogers, co-founder of the Quantum Fund and Soros Fund Management. Earlier this month, PharmaCielo also announced the establishment of an enhanced Medical and Scientific Advisory Board, a renowned team of international physicians, scientists and researchers led by Dr. Delon Human.
PharmaCielo Ltd. (TSXV:PCLO) is a global company, headquartered in Canada, with a focus on ethical and sustainable processing and supplying of 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.
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 statements that certain actions, events or results “may” or “will” be taken, occur or be achieved. Forward looking statements include those relating to the
U.S. market as a prospective market for CBD products in the near-term. 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 is 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.
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