Business
PharmaCielo Announces its Financial Results for the Fourth Quarter and Fiscal Year 2018
PharmaCielo Announces its Financial Results for the Fourth Quarter and Fiscal Year 2018 ...
About this update from Pharmacielo Ltd.
[{"type":"text","content":"\n\n\n\nPharmaCielo Announces its Financial Results for the Fourth Quarter and Fiscal Year 2018\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO and RIONEGRO, Colombia, April 18, 2019\n\n\n\nPharmaCielo expects to begin commercial sales in 2019. Oil processing facility is on track for commercial operation and GMP certification during Q3-2019, enabling large-scale production and sale of refined cannabis oil. Currently, 10 hectares are under active cultivation, expanding to 20 hectares (~2.15 million square feet) by year-end 2019, backed by 20 proprietary registered strains and 186 strains in the Company's germplasm bank. PharmaCielo's common shares began trading on the TSX Venture Exchange (\"TSXV\" or \"TSX Venture\") under the ticker PCLO on January 18, 2019. Well capitalized with a cash balance of US$33.5 million as of December 31, 2018.All figures are in U.S. dollars unless otherwise specified\n TORONTO and RIONEGRO, Colombia, April 18, 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., announces its financial results for the fourth quarter and full year ended December 31, 2018.\n\n \n \n\n \nPharmaCielo Ltd. CEO David Attard commented on the company's continuing progress. \"2018 was a year of incredible growth, culminating in the public listing of our common shares in January 2019. We are expanding our cultivation and processing operations to begin commercial sales of refined cannabis oil in 2019, having already received more inbound requests for product than we are able to fulfill in the near term. We are ready to sell, with sales licensing and ISO 9001 certification in place and an initial 20 proprietary strains registered for commercial production. We anticipate the completion of our first major processing expansion in Q2 and our GMP certification in Q3.\"\n\"PharmaCielo has been structured with a singular strategic objective in mind – to be a dominant global supplier ...