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PharmaCielo Announces Financial Results for the Fourth Quarter and Fiscal Year Ended December 31, 2023, and the First Quarter Ended March 31, 2024
All figures in Canadian dollars ($) unless otherwise specified Toronto, Ontario and Rionegro, C...
About this update from Pharmacielo Ltd.
[{"type":"text","content":"\nPharmaCielo Announces Financial Results for the Fourth Quarter and Fiscal Year Ended December 31, 2023, and the First Quarter Ended March 31, 2024All figures in Canadian dollars ($) unless otherwise specifiedToronto, Ontario and Rionegro, Colombia--(Newsfile Corp. - July 4, 2024) - PharmaCielo Ltd. (TSXV: PCLO) (OTC Pink: PCLOF) (\"PharmaCielo\" or the \"Company\"), the Canadian parent of Colombia's premier cultivator and producer of dried flower and medicinal-grade cannabis extracts, PharmaCielo Colombia Holdings S.A.S., today announced financial results for the fourth quarter and year ended December 31, 2023, as well as for the first quarter ended March 31, 2024.The Company also announced that effective July 3, 2024, its principal regulator, the Ontario Securities Commission (\"OSC\"), has revoked its failure to file cease trade order (the \"FFCTO\") that was issued on May 7, 2024. The FFCTO was issued as a result of the Company's delay in filing its audited annual consolidated financial statements for the year ended December 31, 2023, the related management's discussion and analysis of financial condition and results of operations and CEO and CFO certificates relating to the audited annual financial statements as required by National Instrument 52-109 - Certification of Disclosure in Issuers' Annual and Interim Filings (collectively, the \"Required Documents\") beyond the April 29, 2024 filing deadline.The Company has filed the required documents on SEDAR and trading will resume on the TSX Venture Exchange following the dissemination of this news release.Management Commentary Marc Lustig, Chairman and CEO of PharmaCielo commented, \"Our team has been unwavering in their efforts to drastically reduce costs and optimize operations while expanding our sales reach. The global landscape for cannabinoid-based drugs and therapeutics is expanding, and we are strategically positioned to seize opportunities in regions such as Latin America, Australia, and Europe. We've obtained the necessary export quotas for both psychoactive and non-psychoactive products and we expect to yield positive results going forward. As a major investor in the Company, I am confident that our approach will generate shareholder value.\"Summary Financials - First Quarter Ended March 31, 2024Three months ended(000's)March 31, 2024March 31, 2023Revenue $ 2...