- CBD extracts and oils to be used in Adler's portfolio of
veterinary products for pain and cancer treatment in large and
domestic animals
- Agreement also includes supply of Creso Pharma's
anibidiol® products
- This is PharmaCielo's first foray into the growing veterinary
CBD market
- Agreement covers sales and distribution in Uruguay, Paraguay, Bolivia and Southern
Brazil
TORONTO and MONTEVIDEO, Uruguay, Aug. 13, 2019 /CNW/ - PharmaCielo
Ltd. ("PharmaCielo" or the "Company")
(TSXV:PCLO, OTC:PHCEF), the Canadian parent of Colombia's premier cultivator and producer of
medicinal-grade cannabis oil, PharmaCielo Colombia Holdings S.A.S.,
announced it has signed a sales agreement with Uruguay-based Laboratorios Adler ("Adler").
According to the agreement, PharmaCielo will provide Adler with
bulk CBD extracts, bulk and bottled CBD oils and veterinary
products that will be sold by Adler in Uruguay, Paraguay, Bolivia and Southern
Brazil.
The four-and-a-half-year agreement with option for renewal
signals PharmaCielo's foray into the high-growth veterinary CBD
treatment and wellness market. This is also the first collaboration
between PharmaCielo and Creso Pharma that includes sub-contracting
to Creso the responsibility for manufacture and supply of
Creso's veterinary feed products, anibidiol® 2.5
and anibidiol® 8, with export approval received from the
Swiss Cantonal regulator.
"This exciting entry into the animal health marketplace through
the agreement with Adler is an example of PharmaCielo executing on
its strategic objectives to supply both bulk oil and proprietary
products to customers using established large chain distributors,"
said David Attard, CEO with
PharmaCielo Ltd. "Including Creso Pharma's animal health
products also demonstrates both the mutual strategic value of our
Creso acquisition proposal, which will be fully realized upon
completion of the transaction, and the value of branded, fully
manufactured product to provide enhanced margin opportunity. We are
thrilled about the potential this agreement brings to all parties,
and we look forward to working with our Latin American and European
partners."
A manufacturer and importer of products for animal treatment,
Laboratorios Adler services a wide range of customers from pet
shops to veterinary clinics and wholesale distributors of
veterinary products. The CBD-based products that Adler will
distribute in its area are designed for trauma pain and
cancer-related pain treatment for domestic and large animals.
"We are seeing increased demand for CBD-based veterinary
products across all our markets as customers look for natural
solutions to address pain, stress and a variety of other ailments
in both domestic and large animals," said Adriana Adler, Chief Financial Officer with
Laboratories Adler S.A. "Partnering with PharmaCielo gives us
an incredible advantage in this rapidly developing category. Creso
Pharma's anibidiol® line of products, targeting
stress, behavioral problems and chronic pain, along with
PharmaCielo's CBD isolate, among the purest and highest quality
we've seen, make a great addition to our product portfolio."
Development of the sales and distribution agreement was
initiated in collaboration with Medara S.A., a Uruguay-based company that acts as
PharmaCielo's representative in several Latin American countries
and is responsible for cultivating and maintaining strong channel
relationships with local manufacturers, distributors and
wholesalers as well as supporting market growth in the region.
PharmaCielo initiatives for distribution of its CBD products in
expanded markets as identified in the agreement with Adler have
been shared with TSXV for review as agreed.
About PharmaCielo
PharmaCielo Ltd. (TSXV:PCLO, OTC:PHCEF) 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.
For further information:
www.PharmaCielo.com
About Laboratorios Adler S.A.
Laboratorios Adler is a Montevideo,
Uruguay-based laboratory leader in anti-parasitic treatments
with solid distribution networks within the market of domestic and
large animals in Uruguay,
Paraguay, Bolivia and Southern
Brazil. Its co-owners, Adriana
Adler (PhD in Animal Nutrition), Rodrigo Mora (PhD in Drug Manufacturing
Processes) and Andrés Adler (Veterinary), have a deep knowledge of
the needs of the veterinary market and are actively expanding
Adler's product portfolio in the area.
About Medara S.A.
Medara is a Montevideo,
Uruguay-based sales representative agency that conducts
market analysis and focused business development on behalf of the
pharmaceutical industry. The company is led by Jorge Giribone (MD
Biology, University of Buenos Aires), former president of
the Argentinean Chamber of Importers of Medical Equipment
(CADIEM) and owner of several companies in Argentina, Chile and Uruguay acquired by Terumo BCT (formerly
GambroBCT), on whose behalf he worked as Latin America General
Manager.
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 relating to the
distribution of PharmaCielo's CBD products into Uruguay and other countries, the acquisition
of Creso by PharmaCielo, increasing margins through branded
products, an anticipated demand for PharmaCielo's CBD products in
Uruguay, Medara continuing to
provide suitable partners for PharmaCielo in Latin America, and PharmaCielo obtaining TSXV
approval for its contemplated activities. Forward-looking
statements are based on assumptions, including with respect to the
ability to obtain all necessary governmental regulatory and TSXV
approval related to the exportation of PharmaCielo CBD products
from Colombia into Uruguay, Paraguay, Bolivia and Southern Brazil, the ability
of PharmaCielo and Creso to satisfy or waive the conditions
precedent to the acquisition of Creso, the enhanced margin value of
manufactured and branded products, the expectation that demand for
PharmaCielo's products will continue and or increase, Medara's
ability to locate business partners for PharmaCielo that are viable
business opportunities and the ability of PharmaCielo to consummate
a business relationship with these parties, and the ability to
execute its business plan in general 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, failure to obtain necessary governmental regulatory
approvals in each jurisdiction, that there will not be demand for
PharmaCielo's products or that there will be heightened competition
to satisfy demand, that the acquisition of Creso may not be able to
be completed, or that anticipated synergies between the combined
entity will not be as anticipated, risks associated with early
stage companies and failure to obtain necessary TSXV approval.
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.